Sanjeev Pendharkar, Director, VICCO, recently participated in three webinars, during which he discussed about the survival strategies needed ‘to keep the businesses afloat’ during the coronavirus-induced challenging phase. The topic of discussion in all these webinars mainly revolved around ‘post-crisis scenarios in the business landscape and the game-plan for the same.’
Distinguished business heads and industry leaders along with Pendharkar exchanged their views viewpoint on ‘how they need to react to all the shifts and changes that the corona upheaval has triggered and how can all the damage be contained.’
All the discussions that Pendharkar engaged in were highly solution-centric and were geared towards providing meaningful and pragmatic tips to safely navigate the post corona business ecosystem once the pandemic is contained.
Out of the three virtual panel engagements, one was organized by a platform called CorpGini, which is a renowned platform for corporates aimed at consistently discovering and embracing disruptive tech solutions and the other two were also planned by very well-known and distinguished organisations.
Each webinar witnessed massive audience participation with over 15000 unique viewers from all across the world and lasted for roughly 2.5 hours.
Talking about the corona impact, Pendharkar said, “The ripple effect of the lockdown can already be clearly witnessed as businesses all across the world are severely hit and are struggling to tread the difficult waters. In view of the same, companies need to rethink their business model. Businesses, both small and big, need to revisit their operating model and reposition themselves. As the demand patterns of customers for products and services have been dramatically transformed due to the pandemic, all entrepreneurs proactively need to embrace a new set of rules and relook their business plan to survive this slump”.
Embracing the digital is the mantra is how Pendharkar put forth his views. He further expressed, “The world post-COVID-19 would be a very different world and going digital is the only way to go for businesses if they want to survive and thrive in it”.
“Already a significant number of organizations and employees have adopted the work-from-home concept as a substitute for the regular office culture. Remote working has more or less become a norm and applications like Zoom, Skype for business, doodle and Google Meet continue to witness a huge surge in demand. Be it the video conferencing or sharing files, these collaboration apps are geared towards making remote working as effortless as possible and thus their usage has already shot through the roof”.
Another significant aspect that Pendharkar spoke about was related to angel investing. He said, “The start-ups and businesses that are looking to raise funds should do the same through the equity method as contrary to taking a loan. Doing business on loan is the laziest way to do it”.
He further expressed his opinion on how angel investors are looking for businesses and start-ups to empower them during the pandemic. “These angel investors are more interested than ever in meeting with agile entrepreneurs and supporting them. On the grounds of this, businesses and start-ups should utilize the opportunity well and go for the equity route”, he said.
To make the subject clearer, he quoted an example of the Jio-Facebook deal where Facebook’s $5.7 billion investment in Reliance Jio has virtually catapulted Facebook to the big leagues of technology investors in India.
Pendharkar also touched upon the other facets of the implications on the economy with the lockdown and said, “ While they are some industries like aviation and malls that are vulnerable and are enduring the brutal effects of corona outbreak, other sectors like e-commerce have (in a way) received a new lease of life.
Companies like Flipkart, Amazon, Grofers and BigBasket, have witnessed a very clear uptick in terms of orders and continue to see a big spike. Few other sectors that remain unscathed from this hit include ed-tech and digital health.
Stressing upon Inventory Management he said, “As things stand now, it is quite essential to keep liquidating the old inventory. Surplus stock occupying your shelf space should be a complete no-go for any business. Keeping track of the inventory data and finding out strategic ways and means to clear excess stock if any is paramount”.
All the discussions were concluded by him on a positive note, where he persuaded every attendee to hang on and stay positive. While strongly focusing upon viewing this existential crisis as an opportunity, he said, “Despite all the disruption, it’s still not all doom and gloom. As hard as it is to remain positive and calm amidst this pandemic impact, one can still find the silver lining and capitalise on this market shift by devising a proper survival strategy”.
All in all, the sessions were a true amalgamation of some of the most ingenious and resourceful industry minds banding together and exchanging dialogues about the subject. The audience was also seen eagerly bringing forward their questions pertaining to the topic.
The three sessions made for some real power-packed and intriguing events, to say the least.