Answer to Question #224468 in Management for yummie

Question

Define and explain FIVE (5) important adaption success elements that must be considered when firms move from conventional to online interaction for long-term sustainability during the Pandemic COVID-19 problem, using suitable examples.

Answer 1

1) Reorienting community- based staff on communication methods- the firm develops high efficient methods to deliver information to reach out to their customers through internet. E .g use of trained IT personnel's.

2) Leverage the existing tech-based information channels- many companies use the social media services to reach out to their customers e.g use of social media accounts such as Twitter.

3) Adjustment of payments and pricing methods which include the use of financial technology (Fintech) to facilitate money transfers and payments from the customers.

4) Adopting products and services by processing products for longer shelf life, transportation of essential goods only and customer door delivery.

5) Expansion of micro- distributors and retailers benefits by expanding their networks of distribution of goods and services through distributors and retailers to ensure timely payments hence cash flow