Transformative Leadership in a Rapidly Changing Business Environment

From COVID-19 to unrests and looting that followed the recent protests, nothing could have adequately prepared you and other entrepreneurs for the kind of events that have tested your resilience this year. Entrepreneurs need to build resilience to keep their business ahead of the curve. 

Here are some of the strategies that can work for you.

1. Invest in Customer Experience: 

According to research, 81% of global brands earn trust  during a crisis. As consumer behaviors and attitudes continue to change, it is important to rethink your brand’s approach to customer experience delivery. You can begin by assessing your brand’s Customer Experience maturity stage. Click here.

2. Review Strategy; Go Digital:

As consumer behaviors, opinions, and attitudes evolve, businesses must evolve as well to adapt to the changing realities of the marketplace. 

As the economy begins to open up again, businesses who would thrive in the future must recalibrate, review their strategies to build more resilience. Going digital is one way to begin this.

3. Inspire leadership and Confidence in your Team:

Times are changing and everyone(including your employees) is wary as uncertainty hangs thick in the air. The best thing to do is to align the team on the steps the organization is taking to manage the situation; share the vision and goals. This is the time to decide whether your human resource is an investment for the growth of your business or just another cost line.

4. Take Advantage of Relevant Funds and Loans: 

As the economy gradually reopens and in Nigeria, we encourage you to take advantage of the different funds and loans available at this time to rebuild your business. UBA has newly introduced the UBA Working Capital Loan that gives business owners access to up to NGN50m payable over 12 months at a very discounted interest rate. Women-owned businesses get special interest rates.

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