According to PricewaterhouseCoopers (PwC) report, the organisations that want to grow in a post-pandemic world will have to focus on some important issues including agile demand sensing and decentralization to build resilience. In the report titled, ‘Full Potential Revival and Growth – Charting India’s medium-term journey’ said that the pandemic emphasis frictions in the economy, which if overcome, can provide fast revival and substantial growth.
The changing demand scenario will require organisations to work out in a fast manner and agile demand sensing techniques to keep riding with the situation while an expanding decentralised economy will require a focus on semi-urban and rural areas. According to Shashank Tripathi, government strategy and transformation leader of PwC India, If India removes those frictions in order to increase productivity and choose a very methodical way to going beyond repair to rethink, reconfigure for organisations and various sectors, then it was convinced that in the ten years, that is after the 75th anniversary of our independence to 2034, India can increase the average growth rate to 9 per cent.
The report, based on interviews with business, public and private sector, citizen leaders, sectoral analysis, and a country-wide survey, laid down a ten-point value proposition that organisations could access, with some sector-specific modifications to ensure effective growth during the pandemic situation.
The foundation of organizational stability is what provide people with a sense of confidence, efficiency and optimism during uncertain changes in the workplace and adapt effectively as the situation develops. During the crisis, organizations should follow the evidence-based practices that build a stable foundation. The organizations will focus on demand management and decentralization in order to improve efficiency and productivity.
Organisations will also have to maintain the product and service portfolios to allocate available resources towards adequate growth and divest non-core assets. Supply chains should be reallocated at both the global and local levels to build profitability. As per the report, Tripathi said that costs will have to be restructured to a ‘fit-for-future’ structure that would target excess costs but retain capabilities and assets that are important for future growth. This is not about slash and burn but rather to make sure organisations are ready for the coming upswing. Any organization looking at revival should consider these ten, what call as a checklist, road map or framework.
