Role of Product Development in Driving Competitive Advantage in the Post Covid-19 World
Covid 19 caused unprecedented and lingering disruptions in the production and distribution systems of many enterprises. The challenges and new changes include, in part, disruptions in supply chains, falling and changing demand patterns and consumer preferences, cash-flow constraints and a surge in e-commerce and utilization of online facilities for normal operations. Enterprises surviving the effects of the pandemic have been forced to quickly review their strategies in order to align themselves to the new emerging conditions, including competition. Those companies, particularly SMEs, that could not adapt quickly enough, for one reason or the other, declared most of their workers redundant, while some face imminent closure as temporary fiscal measures (economic stimuli), that had been put in place by many Governments elapsed.
Product development has emerged as one of the key strategies helping companies to adjust and cope with production and delivery disruptions, including competition. Developing new products is an attractive way of targeting new markets, increasing market share in times of stiff competition and slackened demand. It is helping companies to increase sales and register sustained revenue streams. Some firms are also realizing product development through redesigning existing products in away that results in lower cost of production. These are the reasons you should not miss our February 25th 2021 Webinar by Madam Beatrice Mwasi, an innovation and management specialist with over 20 years of hands-on and professional experience.
Beatrice Mwasi holds a Master’s Degree in Design Management (Middlesex University – UK); Diploma in Management (Swedish Institute of Management); and B.A. (Hons) in Industrial Design, from The University of Nairobi).
She will discuss:
Effects of Covid-19 on business
A paradigm shift among consumers
3 Pathways to THRIVE during disruption
Need for a holistic approach in providing for the emerging value system
Delivering and capturing value amidst Covid-19