Every Industry today is going through a huge strategic thinking process about their future.Many individuals, who have apparently built themselves for pre-Covid situation, are finding themselves out of depth. There is a huge adjustment,everyone is going through within themselves.But the fundamental point is, no one knows where it is headed.Businesses,in particular, “retail” or for that matter, most of the services business are not able to figure out the direction for themselves. I keep talking to entrepreneurs and I find they are at a loss primarily at a loss,as both buyers and sellers are confused on their way ahead. A lot of waiting and posturing is going on. “I am fine, I don’t know about you”,is a general theme. Say,for example, these days,we are seeing, a lot of music videos, FB Live,etc.etc.,but no one,including the artists have thought through perhaps,whether or how much they are impacting their own professional fees,if people or channels,as the case maybe,and their audiences,get used to this.What will happen to their skills,which make them earn ? But they also need to be visible in these tough days. You need organisational thinking here.Any individual,however talented they could be, can do very little if they are not backed or supported by Organisational inputs.Like the cricketers and BCCI. So, performing arts,or,individual skills have to rethink themselves. As for Corporates,and their products and services, they HAVE TO,work out distribution models differently, to reach their customers. Sure, web based looks ideal but may not be enough, for all segments, where there is innovation involved, and, where, touch and feel is important before buying the product or services, offered.
Higher Education already has taken a perceptable changed direction.Web meetings,Webinars,Web based classrooms,are already being implemented. I just want to make Education players aware, that the customers are very unaware currently.They don’t know how Education products in the new regime could succeed? How their end customers, both retail and Institutional will behave going forward? So, for the next 1 year at least this will continue. However the customers will hire people who will understand,market,absorb,and be dynamic to this change.So, the recruiters/corporates and the higher education Institutes,must deliberate, sit and discuss, what is it that the end user needs,wants,and how can they deliver that, to be productive, profitable, impactful to their students to deliver in these changed challenging situations. Sure adapting to technology vehicles are key, but understanding the customers changing needs are more critical.
Lets see what time unfolds.Lets watch this space.
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