TAKING A DYNAMIC PATH TO RECOVERY
The Covid-19 pandemic has unleashed an unprecedented range of challenges for Lancashire’s SMEs. It has caused a dramatic reduction in business for many and created cash flow and liquidity issues and operational and staffing problems.
Professor Simon Bolton and the Productivity and Innovation Centre team at Edge Hill University have harnessed all their expertise at developing highly-effective ‘growth frameworks’ to support Lancashire SMEs as they react to those challenges and look to recover from the current crisis.
The result is a free-to-use SME ‘Dynamic Recovery Framework’ created to help businesses find their path to recovery through practical tools and support.
It is already helping businesses in the county, supporting them as they react to immediate situations that need to be addressed and assisting them as they put in place a series of short and medium-term recovery plans.
SMEs are using the framework to help them to focus on retaining existing customers, maximise their current lockdown time in order to be ready for the recovery phase and support staff through this extended period of working from home.
Phil McNair, sales director at Skelmersdale- based computer support and services business Virtue Technologies, says: “It has helped us to revise our business plan in order to help us maintain our current position.
We recognised that because of the speed of the pandemic we needed to act fast
“And we are using the lockdown time to actively engage our staff in targeted process improvements to maximise the use of our CRM system, so that we are ready for restart”.
Tony Garner, managing director Viva PR, adds: “The framework has helped us to reassess our product and service portfolio, prioritise key market sectors and target key customer profiles. We are now starting to win new business.”
Prof Bolton says: “The speed of the impact of Covid-19 has meant that SMEs are having to deal will multiple priorities, often interconnected and taking place simultaneously, in an undefinable time period.”
He and his team have ‘harvested’ key features from their established ‘Innovation
Sprint’ programme, which is designed to help businesses develop strategies for profitable growth.
The result is “a robust yet user-friendly solution” that involves innovation, defined phases, the ability to visualise issues and the use of defined tools.
Anthony Smith CEO, Lantei
@Anthony_Smithuk
THE WAY OF THE SAMURAI
The Japanese Katana sword is one of the most beautifully crafted, perfectly balanced creations in the world which is presented to the brave and honoured Samurai. A living breathing embodiment of a warrior’s soul.
Created only by the masters of this craft in Japan and unable to be replicated anywhere else in the world, these masters take their metal and fold it three hundred times, each time moving ever closer to a creation of perfection.
Simon Bolton
Prof Bolton says: “We recognised that because of the speed of the pandemic we needed to act fast, so we adopted a lean design approach that enabled us to work closely with local SMEs to build, test and retest ideas quickly.
“This enabled us to learn rapidly from results being achieved and take onboard the feedback from different sized SMEs. This has led to crisis-driven innovation.”
The Dynamic Recovery Framework helps SMEs determine adjustments needed, pinpoint specific priorities and activities, provide a clear understanding of the steps to achieve change and the tools to carry out the required activities.
The framework encourages more pro-active internal engagement and communication with staff, customers and suppliers through a four-stage process:
• React: determine the critical business challenges and required corrective actions
• Plan: establish a fit for purpose strategy that redefines costs and core services
• Stabilise: understand your customers new requirements and implement a short to medium term plan to maintain value
• Refocus: understand your customers new requirements/needs and revise business models
To see a webinar on the framework visit
www.youtube.com/elancschamber.
The Dynamic Recovery Framework template and Productivity tool kit is available free by contacting the Productivity and Innovation Centre at Edge Hill University on
edgehill.ac.uk/pic
LANCASHIREBUSINESSVIEW.CO.UK
The process involves heating the metal until it glows white in a raging furness before violently and repeatedly striking and folding the white hot metal with a hammer on an anvil. Then, the metal is thrust into freezing cold water before bringing it back up for air, only to start this torturous process over and over again. Three hundred times in all.
From this process, or period of trauma and change, emerges a perfectly balanced beautiful creation. Very much like this brave new world in which we currently live and work, making us feel as if we are being folded like a piece of metal in the raging fires of business and life. The exit from the EU... the Covid pandemic… The up and coming recession… it never seems to end. For many, there is fear and uncertainty and rightly so. However, from this, as a business community, we will emerge from the swordsmith’s workshop, beautifully balanced; the embodiment of perfection.
It is hard to visualise as people don’t fear change, they fear being changed, but we cannot avoid or run from it. Change is here but it’s what comes next which brings excitement. The metal of our soul is being folded every day, and I look forward to celebrating with you warriors once this is over.
Please stay safe, stay strong and may god bless and protect you all.
For more information please contact:
helpdesk@lantei.co.uk
or visit:
www.lanteilearning.co.uk
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