Business operators and entrepreneurs are encouraged to remain cognisant of the need to adapt or modify their business model in response to changing market conditions and the needs of customers.
Speaking at a recently held âJamaica Business Development Corporation (JBDC) Virtual Biz Zoneâ, Country Manager at Inova Solutions Jamaica, Jermaine McDonald, said evolution is crucial in enabling businesses to remain competitive.
âOver time, your company, your employees and customers are all changing. What we find is that a lot of times, companies focus on their current state that they believe leads them to get revenue, not realising that as everything evolves, if the company stays static, then that leads to inefficiency and it leads to not being as effective,â he pointed out.
Mr. McDonald, who spoke under the theme âThe Changing Nature of Workspace and Workplaceâ, advised business operators not to wait on ânormalâ to return but to, instead, use the pandemic as an opening to completely redefine what is viewed as normal for their customers.
He is encouraging businesses to identify processes within their operations that can be changed through the use of technology to provide even more value to their employees and customers.
âCOVID has brought us to this place where we are trying to balance our safety with the need to provide the same products and services we are used to providing from a physical location. The opportunity that you have is that you can say âwe have always done it this wayâ but now have an opportunity to do something better. It is a chance to use technology in the right way,â he said.
The JBDC is the Governmentâs business development agency that assists in the sustainable creation and development of micro, small and medium-sized enterprises (MSMEs) in Jamaica.
Source: JIS