It has been more than a month now that INDIA has been in lockdown due to the COVID-19 and the world is envisaging the devastation of this pandemic. Plot sounds similar????? Do you see this related to various movies made earlier, books written, fortune teller’s folklore? The world has been trying to rely onanything and everything that might have a positive endingand are trying to find GOD to revive us of this misery.
I have also been a prey to this massive social followingcalled ‘THE MONEY HEIST’ (series) on Netflix and boy oh boy it is something! It is spectacular and while watching it yesterday; the thought hit me:
“Are we, THE SME/MSME; 30-35% contributors to the GDP of India,not pulling the biggest heistagainst CORONA!”
The SME/MSME employs more than 114 million people and the state of Maharashtra has the highest number of MSMEs in India and unfortunately the highest in the Corona count as well. We have been hit at several levels.
1. The service Industry has seen an all-time low
2. The Tourism, Hospitality, Logistics industries have been considerably impacted
3. All dependent on imports of raw material have faced crunching bottlenecks
4. The Cash flow problem is going to make Organisations think about man-power and its reduction
5. And the biggest – EMOTIONS! It’s a massive storm of uncertainty versus hope, pessimism against optimism.
With the GDP at an absolute all time low; MSME has a task in hand to survive and succeed.
So, if we need to pull out the greatest HEIST known to mankind; strategy and planning become of utmost importance. We are trying to trick a phenomenon so powerful, mental stability and patience will become super-powers of every super hero fighting it out today!
With recent reports and facts that have been put out by industry veterans like McKinsey, KPMG and others, I offer the SUCCESS QUADRANT. This quadrant aims at ensuring that we come out of this Economic Crisis with a plan and create implementation and sustenance methodologies.
Everyone should know we are going to be riding on extremely high or lowEMOTIONAL tides after all this ends and only a well-organized/planned activity will keep the ball rolling. The strategies need not be monetary in nature; they will be linked to Organizational Cultures, Behaviours, Success Data and Loyalty. Money alone cannot execute success; PEOPLE and their INTELLIGENCE do. The above quadrant aims at channelizing the most powerful weapon- the Human brain.
I will be covering the 4 quadrants individually in my write ups and I hope they help you plan and succeed.
To start with – RESOLVE.
RESOLVE – Definitions of this word are very powerful and the one I prefer is- ‘Decide Firmly on Taking an Action’
The MSME has always been prey to taking very late or influenced decisions which are not in favour of the organization of its employees. For example: how many of you have allowedyour people to work from home before this? We always follow a certain trend and never allow ourselves to verify its authenticity of applications. Resolution of the problem at hand or deciding on what actions are to be taken will rely on the factors mentioned below:
While we understand that very small setups do not have the liberty and luxury to execute remotely, they can think about how structural strategies or people development will help them sail through. What we do not want to be in is the rut of what others are doing and how we need to follow them. The decisions to be taken have to be very individualistic in nature (not influenced by a group) and should help you answer all the objections that people or your own thoughts throw at you.
You might face the following mind-boggling questions on the emotional front in this scenario, and the 2nd Quadrant ofRe-Engage will answer that for you in my next article in the series, coming up soon…
> I will have to write a completely new business strategy, will the market have space for me or I will have to shut shop?
> My new business strategy will include reduction in costs which also means less man-power. How do I let go of my loyal and legacy employees?
> Is my current system and process capable withstanding an absolute collapse?
> Will my people stay and if they do; will they have unreasonable expectations when things come back to normal?
> The funds are going to limited and I need to sustain for a good 3 to 4 months, how do I strategically plan so that everyone in my organization continues comfortably?
COVID-19 has shown us the true power of a dictator. The only thing the pandemic does not know is that we are designed to adapt and strategise plans. Our priorities are not always futuristic, but they are beautifully crafted, implemented and sustained,situationallyas well.
Quadrant 2 will help you answer your questions on sustenance….
Founder & Director
Skalent Consultancy Services Pvt Ltd.
SatchitJamgaonkar is one of India’s leading Outbound Specialist decorated with the award from Silicon India, acknowledged for being amongst India’s top 10 most promising Learning & Development Consultants for 2019.
Coming with a diversified experience in various industries and cultures and being in the training industry for more than 20 years, he has a proven track record in the field of learning and development. His innovative training methodologiesalways create a stimulating, healthy and beneficial learning environment with complete focus on quality and value addition. As an outbound activities specialist; he routinely consults, mentors and guidesprestigious corporate industry professionals, leaders and Managers with diverse roles and hierarchies, as well as individuals on their path of proficient and personal growth.
He is lives in Pune and is engaged in outbound sessions all over the country.