Lisaveta Ramotar is a strategic development consultant with years of experience in her field and has been paying attention to the current trends during Covid-19. What she sees has her a little concerned. Not many businesses are doing what they should to change their strategies, she says, and they are going to suffer unless they are willing to be adaptable and ready to go digital.
Trends to Watch, According to Lisaveta Ramotar
When considering strategic development at any time, Lisaveta Ramotar suggests paying attention to emerging trends and how to adapt to them. She says that you shouldn’t “chase” trends, per se, because all you’ll end up doing is falling down a wormhole of constantly changing concepts. Instead, Lisaveta Ramotar suggests that you understand the structure of the market and gather what the trends are pointing to as it relates to strategy or the markets in general.
For example, the stock market during Covid-19 is, as she says, entirely unhinged. This market has been some days is rising and falling by thousands of points per day due to changes in virus death forecasts and vaccine news, creating a strange and unpredictable reaction. That type of unexpectedness is something that a company may not be able to plan for, Lisaveta Ramotar says, but it may point to the needs of reviewing the company’s strategy to avoiding problems.
For example, Lisaveta Ramotar has been investigating digital development in more depth lately because of the rampant shutdowns across many countries of the world. Even though many businesses are re-opening and becoming adaptable to the COVID-19 world, Lisaveta Ramotar says that the digital realm is still an important one because it can push a company’s strategy in many different directions.
Ways You Can Change Your Strategy | Lisaveta Ramotar
However, changing a developmental strategy is not always instantaneous, Lisaveta Ramotar says. Companies are often pointed in one direction and require a lot of movement to change course. In this way, Lisaveta Ramotar compares many businesses to an aircraft carrier because those ships rely on hundreds of people, all working together to make even slight changes.
Therefore, she suggests holding regular meetings with all of the essential employees to discuss ways of responding to fine turning the company’s business strategy. Digital meetings are useful, Lisaveta Ramotar says because they bring everybody together and allow a more straightforward sharing method than phone meetings or trying to coordinate many different ideas via email or letters.
Lastly, Lisaveta Ramotar states that it is a good idea to pull back and see how the company’s strategy was working before Covid-19. Was it successful, or did it already need some changes? The impact of Covid-19 is vast, she says, but it shouldn’t stop a business from being successful if the company is adaptable. And that’s the biggest tip that Lisaveta Ramotar can give – changing a development strategy if it is struggling and if a company needs to enhance its portfolio with new ideas and concepts.