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SME's set to reboot
Strategy and execution differ by size and sector
Scenario planning is the difference between SMEs struggling to survive versus being ready to run.
Since April, many SMEs had a knee jerk reaction to a sudden loss in business, cash flow or the ability to deliver their good/services. SMEs that are doing well are those that have used scenario planning or a similar framework, taking a leaf out of Enterprises/ large businesses. Our interactions with over 50 SMEs in the last couple of months has shed a light on this.
Whether managing cash flow or the working capital, human capital/resources, or customer experience, or the delivery of product/services – scenario planning has played a very vital role. This is best expressed by a business owner in commodities and food trading business “With scenario planning we have a plan A, B or even plan C ready to execute, and we are not completely navigating in the dark”.
Revisiting the status of key business metrics every week or fifteen days ensures SMEs are well prepared, irrespective of whether they are executing stringent measures or whether they are resuming full operations again.
Do comment if your business has adopted scenario planning or any other framework, or if you have a question in your mind.
Scenario planning is the difference between SMEs struggling to survive versus being ready to run.
Since April, many SMEs had a knee jerk reaction to a sudden loss in business, cash flow or the ability to deliver their good/services. SMEs that are doing well are those that have used scenario planning or a similar framework, taking a leaf out of Enterprises/ large businesses. Our interactions with over 50 SMEs in the last couple of months has shed a light on this.
