Thought leaders deliberate on unlocking business in “Digitally Yours” show by Ram Jalan
Ram Jalan, an entrepreneur and a marketing thought leader hosted the first episode of his show “Digitally Yours” on Ten News Digital Studio last Sunday.
The first episode of the show aimed at seeking answers from the expert panel on reframing business strategy and unlocking the business in the lockdown period.
The expert panel included Vikram Karunakaran, managing director at Delta Pure and Manish Baid, co-founder at Lib Gem Solutions.
The show embarked with Ram Jalan presenting a brief overview of the massive challenge that businesses are facing today amid the outbreak of deadly Coronavirus and subsequent lockdown.
He also encouraged people to defy using the business acronym “VUCA” which stands for volatility, uncertainty, complexity and ambiguity and is being used to define the current situation in a negative way. He proposed that the businesses must define their vision, understanding and clarity as an alternative while reframing their business strategy.
Vikram Karunakaran, when asked about the winning strategy for businesses, said that the winning strategy for every business, pre and post Covid, is to become more customer centric. “In the times of Covid, the businesses must get closer to their customers and assist those who are severely affected.”
He urged for innovation in products and products schemes so as to lower the burden on the customer and to incentivize them to be connected with you. Quoting an example from his own company, he said that due to the transmission of covid from surfaces, the company innovated its water dispenser product and made it operate by foot, so that the customers can avoid touching it.
The other expert panelist, Manish Baid, said that there is a need to relook at business processes and think of how the same things can be done differently. “Even in traditional shops one can change how they service their customers.”
On the apparent shift to digital technologies amid Corona, Manish said that the digital transformation was inevitable, shift to digital would have arrived in 5-7 years anyway.
“What Covid has done is that it has expedited the entire thing, it has pushed people into digital at high pace.”
“The plans to organize exhibitions on online platforms is an example of digital transformation,” Manish said.
To brainstorm what changes are required in the business process amid Covid, Vikram said that his company created a 7-member response team which included people from all the departments.
VIkram’s company has now engaged all the employees in Business Development as bringing in new business and becoming customer-centric is the need of the hour.
In Ram Jalan’s words, customer centricity is the responsibility of all the employees and not just the top level management.
In his closing remarks, Vikram said that one should keep investing and should keep on looking for new business opportunities which are available or will be available in ample in coming times.
In his closing remarks, Manish said that people should not be scared of Covid. The winners will be those who will adjust, adapt and change. A key element of change would be how people transform their businesses into some level of digital engagement with their customers and suppliers.
“Digital would also dramatically reduce the cost of doing business.”
