The LCB’s Big Question of the month is “What is the impact of the economy on you and your organization? What are you doing as a result? Here is my response –
Impact on me:
I personally seek opportunity in adversity so I am very optimistic about this phase. Since I am one of the key shareholders in an eLearning business, impact on me in short term (12-18 months) will be the reflection of impact on my organisation as a whole.
What am I doing:
So my worry is not of survival but how to create value during this phase and focus will remain that throughout this period. At personal level I intend to devote sometime to a universal which I had conceptualised and planned a year ago-GymForSoul.
Impact on my organisation:
So far our organisation has not been impacted in revenue terms. However adverse impact is visible on two counts – significant hardening in penetrating new customers and increase in credit period. As a result we have more working capital invested in business now and we see this to increase further.
What my organisation is doing:
Caution bug has hit us so hard that we are proactively trying to optimise the cost – we are focusing on reducing our non performing assets (everyone carries some flab so did we) at the same time we are hiring the quality talent. We are offering cost effective and flexible solutions to our customers.
Our focus at this point is to offer best value to customers and develop some innovative solutions for long term.