Under the new normal of the epidemic, how to find new opportunities in the adversity has become a hot topic. This time, I will analyze it from the perspective of strategic management, hoping to help everyone break new blood in the adversity.
First look at where the “market” comes from. Generally speaking, there is demand and stable supply, which can be called “fixed market.” Increasing demand, lower prices of opponents, and failure to provide sufficient supply can all be called “adversity.” “There are also restrictions on gatherings imposed by the government in response to the epidemic. The public’s demand for food has not decreased, but has been suppressed by external conditions. Companies must now think about how to meet these still existing needs and whether they need to transform.
So where is the opportunity? Opportunities are relative. We often say that “opportunities are reserved for those who are prepared.” For example, at the beginning of the epidemic, the stock price of a video communication software soared. At the same time, different video communication software was available in the market. Immediately responding to the sudden demand in the market will be the key. What strategy can seize the opportunity is to find the direction first.
Companies can look for directions from different angles. Simply put, they can analyze them by “straightening, straightening, and slanting.” The first is “sweeping”, such as acquisitions, mergers, alliances, alliances, and contractions. For example, the acquisition of a number of small tutoring agencies and their merger into a large-scale joint tutoring agency. Transformation is also a horizontal development direction. For example, popcorn machine manufacturers can transform to produce canned popcorn because theaters are not operating due to the epidemic.
“Straightening” refers to the value-added chain going up and down, forward and backward, splitting or outsourcing a certain stage of the business. And “slashing” refers to the mid-line position. For example, under the epidemic, a restaurant becomes a market. The market is nothing new. How can it break through? What companies have to think about is where are the pain points of the industry? Do you have the ability to solve these pain points? The pain points of traditional markets are hygiene and quality of service. The restaurant environment is better than that of markets, and they also know how to choose ingredients, so the quality is guaranteed. There is no need for all restaurants to be converted to markets. They can take three lanes, dine-in, take-out and sell ingredients at the same time.
Under the current new normal, the business model needs to constantly change. In addition to knowing yourself and the enemy, it is also necessary to move forward logically, that is, to think about problems from logical strategies, act unreasonably, and use innovative methods to break new blood. Opportunities in the adversity.
Written by: Dr. Jason Chan, JP