The world today is in flux. The era of predictability is well behind us. We now navigate a world filled with uncertainty, complexity, and ambiguity, where we work on ever-changing currents that can never be experienced the same way twiceNo place has embraced this reality more than the business community, regardless of size or sector. It is a challenging time to be a business leader, but it is also a time that reveals those who can endure.
The recent government policies have not yet improved livelihoods in the short or immediate term. The cost of food has skyrocketed, and the significant reduction in consumers’ purchasing power is alarming. In times like these, business leaders should consider taking strategic steps.It is true, “no one can know everything.” Yet, a comprehensive understanding of your business environment is beyond essential. It is indispensable.
It’s also important to consider your focus. You might achieve business growth through price increases, but if your sales volume declines, this could pose risks in the long term. Volume growth is the preferred path for every business.To achieve volume growth, you need to balance the six + Ps: price, place, product, promotions, people, presentation, partners, and passion. Volume growth should be structured to reflect these factors for long-term success.