How can the vision and goals of the newly emerged start-ups can be made made more realistic during uncertain times in the country? Elaborate (200 Words)
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Enrich the answer from other sources, if the question demands.
IAS Parliament 4 years
KEY POINTS
· The crux here is to enable the teams with the right tools, develop daily rhythms to ensure seamless operations, set daily or weekly goals and, most importantly, communicate, communicate and communicate.
· Engaging the employees, often and with empathy, is critical. It’s hard for people to adjust to working from home while they are worried about their family’s health and how to manage life under lockdown. Set up a regular cadence of team video calls and check in often on how team members are doing—both personally and professionally.
· In times like this, decisive leaders are more likely to win. Map out all possible scenarios, come up with a strategy for each one and figure out how you can extend your runway in the most likely scenarios.
· Cash was always king, now more important than ever. The last area that must be considered, reducing staff costs, because these are the people helping you build the dream.
· Most companies are thinking about cost reduction right now. If you can position product or solution as one that can help reduce cost, this should be the focus of messaging.
· SaaS, Software as a service companies that focus on large enterprises in the US found that although these customers stopped taking their calls once covid-19 set in, there was a spike in demand from small businesses. They quickly tweaked their offering and reoriented their sales teams to better capture this new customer base.
· By staying close to the market, we may find new opportunities. Companies with an offline component are accelerating their digital transformation.
Shivangi 4 years
Please review.
IAS Parliament 4 years
Good attempt. Keep Writing.
reign4518 4 years
Newly emerged startups are uncertain about their business in the initial stages because of heavy competition from the existing brands,lack of proper workforce,less customer base etc.Their situation become even worse if something unexpected happens,at present the COVID-19 Crisis.But these tougher situations help the start-ups to make their vision and goals more realistic.
Consider an example,say 'X' is a startup,an essential commodities online delivery platform,when the situation is normal,they did marketing about their platform almost every door to door.But they did not get the orders because of the lack of digital connectivity(especially in India if one needs vegetables they will directly go the market and will purchase them) and presence of already established platforms,here in this case like Big Basket etc.Suddenly due to this pandemic,the people will not be able to go to markets,they need to order online.This is the situation that the startup has to cash in favor of them.As there is a lot of demand,if they properly focus on customer engagement and if they deliver the quality product at right time,then their customer base and branding will rise up.This is one of the illustrations where adverse conditions help the startups to realize their vision and goals.
Proper Strategy,increase in customer interaction etc help startups to turn adverse situations into their favor and make them realize their goals better than before.
IAS Parliament 4 years
Try to provide sub-headings, and include about about the technological, health, environmental aspects. Keep Writing.
