Strategies to tide over the crises

Strategies to tide over the crises

Respondents chose a mix of strategies to overcome the current crisis, and emerge strong going forward.

Cost cutting was the most important strategy, with 29.45% of respondents choosing this, alongwith other measures such as product development and innovation (21.70%), improving efficiency (13.17%), increased emphasis on marketing and sales both in domestic and export markets (13.17%), fund management (9.30%) and cutting production (6.97%).

Around 24.80% of respondents prefer to wait and watch how the scenario emerges before deciding on a strategy.

Surprisingly, skilling workforce is an option chosen by just 1.55% of the respondents.
10% of the respondents believe that e-commerce and other online platforms will be part of their strategy.