What an exciting summer of cricket it has been. We got to witness the best of what test cricket has to offer. Congratulations to the Indian Cricket team for putting up the most spirited and gutsy performance to overwhelm the Australian team. There were many winners, but more importantly, many lessons to be learnt…and not just for cricket.
When we think about India, three C’s come to mind – commonwealth, curry, and cricket. But for business, especially in the current context of the ‘new normal’, three other C’s have emerged. These are:
Covid19 has changed the rules of the game. Not only the organisers, but also all of the participating players, officials, and spectators, had to undergo strict risk management protocols in order to successfully compete.
The key lesson for businesses that are looking to engage with international markets is to make sure they clearly understand the risks associated with this global pandemic, and to have measures in place that can mitigate any potential risk in this ‘new normal’.
It was great to see the Indian cricket team bouncing back from a huge loss in the first test. All of the players in the team, no matter how experienced or new, adapted well to the conditions, showed full commitment and perseverance to follow through the team management objectives to secure a well-deserved series win.
The key lesson for businesses is to ensure they adapt their strategy and commit to their objective for international engagement, without an unreasonable expectation of a quick win. Often, the wins will follow what might seem like mistakes and setbacks initially. Committing with the right resources for the longer term and setting the right expectations are necessary for success.
It would be fair to say that the person on the ground has the best understanding of the conditions that can influence the game…and help adapt to the bounce and swing to get ‘Bat on Ball’, to successfully implement winning strategies.
The key lesson for business is to take advantage of local expertise and networks to support their objectives for international engagement. Especially in this ‘new normal’, when international travel and meeting business prospects face-to-face is not an option, the role of Business consultants is particularly important. The right consultants will not only bring their expertise but also their networks and contacts, and their ability to manage stakeholders on either side of the border, providing the best support for businesses to succeed in their objectives.
The importance of these 3 C’s cannot be underestimated…more so in the ‘new normal’.
The changing times requires any good business strategy to incorporate a clear understanding of the risks posed by the global pandemic to their business model, customer behaviours, supply chains etc.
Businesses must commit to the right resources and stay the course in executing that strategy.
Great Leaders must identify and leverage the best connections as an extension of themselves to gain access to relevant stakeholders in international markets to achieve success.
If you are a business impacted by the global pandemic, and looking at best ways to adapt to succeed in bi-lateral trade and investment opportunities between Australia, India and ASEAN, contact Raju Narayanan at email@example.com
Raju is a Director at EastWest Advisers. He is a former senior adviser to the Government of South Australia on India engagement, with considerable experience both in India and Australia, across multiple sectors.
Reach out to Raju for assistance with your strategy for adapting to succeed in this new normal.