As businesses assess and navigate through a post-pandemic world, strategy becomes central in their journey of resilience and recovery. Organisations need to be significantly stronger against a broader set of shocks and much more adaptable to rapidly changing circumstances. An effective business strategy can reshape an organisation’s future, increase shareholders’ fortunes, and bring sizeable transformation in business performance. A well-developed strategy can also have trickle- down effects that may lead to improved stability, enhanced brand management and identification of SWOT. It is essential for key executives to be involved in strategic management and understand market environment, technology trends, competitive landscape, customer needs and stakeholder expectations.
In the new normal, three key aspects would be important. Firstly, digital transformation which is needed to support business strategy to enable cost efficiency, create value and drive growth in the post pandemic world. Second, an increased focus on collaborations within ecosystems, including partnerships with like-minded businesses to foster both enterprise and industry resilience. Third, a multilevel client relationship to gain better insights on the market thereby delivering invaluable customer experience. Therefore, in seizing the upsides of these trends, companies will need to transform their operations and financials as they reshape their strategy for a post-pandemic recovery.
In the Strategy and Transformation department at UHY James, we take a deep dive into the business and the external market forces, followed by identification of improvement areas across all departments and further creating and implementing several objectives and initiatives to enhance profitability and growth along with putting the right checks and balances in place to mitigate risk. Through our successful transformation efforts at some of the large family group businesses in the UAE, our clients see a lot of value in us as we handhold them right from start to end and thereafter provide continuous ongoing support which has created long lasting positive impact and in setting up strong foundations to sustain and weather any storm coming ahead.
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