Anand Mahindra spots 5 business strategies in the virus crisis times

The spread of the coronavirus does not mean that we sit at home lazily doing nothing. It is a time for innovation and hence we need to understand what can be done to improve the current business lull and increase productivity. Mahindra Group Chairman, Anand Mahindra, a business tycoon who has a charismatic social media presence in  twitter, pointed out the following strategies by which businesses can maximize their profits. He also urged all businesses that the time is apt to build “deeper personal relationship with customers”. According to him the following are some of the exceptional opportunities for businesses at this time virus crisis:-

  1. We’ve acquired a precious resource: time for reflection. Use it to review strategies & portfolios.
  2. Press the RESET button & re calibrate all costs & overheads.
  3. Associates will have more time: solicit their ideas for business improvement.
  4. Use the lull to build deeper personal relationships with customers.
  5. We don’t know how long the containment might drag on, but prepare the business for a U or even V shaped recovery!

The Novel Coronavirus has killed more than 6,000 people globally, including two in India. More than one hundred people in India have already been tested positive for the deadly disease and both State and Central governments are urging people to stay indoors as much possible to avoid the risk of contracting the disease.