Views:0 Author:Site Editor Publish Time: 2020-06-29 Origin:Site
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.