Strategies to Incorporate Customer Feedback into Business Transformation

In times of economic downturns or changes in market conditions, it is essential to ensure that customer feedback is incorporated into a long-term business transformation effort. To do this, it is important to start with customer-facing initiatives that, while more complex, offer a greater advantage. Automation and predictive analytics can be used to isolate difficulties quickly and effectively. Additionally, standardizing what is learned can help speed up projects by reducing confusion and creating common tools that can be used by large groups of people.

Empirical studies have revealed that disruptions in the building systems sector cause, on average, a 107% drop in profitability (operating income), 7% lower sales growth and 11% in costs (Hendricks and Singhal 200). Blockchains can be considered a disruptive technology for the general management of public limited companies, specifically in the area of contracts with suppliers. However, it is impossible to completely avoid disruption, and it is also necessary to pay attention to recovery policies, regardless of the cause of the disruption. The Stackelberg game (game) is another type of mathematical modeling that focuses on the strategic interaction between rational decision makers and, given the order in which they make decisions, certain scenarios are deployed about their reactions to SC disturbances. Almost half of the transformations have not been monitored during the pandemic period, since the main priority of companies in times of crisis is to remain operational, and the transition cost of transformations is a matter of least concern.

It is also empirically supported that companies with more operating slack, more days of inventory (available inventory), and a lower sales-to-assets ratio (unused capacity), experience a less negative stock market reaction when interruptions occur, since slack provides the resources and flexibility needed to manage interruptions (Hendricks et al.). One explanation could be that company A is a startup that was formed only four years ago, and all the transformations before or during the pandemic period have been extended to the entire company, so for them, the completion time depends more on other factors than on the magnitude of the transformation. The main objective of its transformations is to stay afloat and, at the same time, to maintain the affordability of its services. To foster resilience in these times, it is important to incorporate longer-term partnerships, a government policy that allows for flexibility, an IT approach that promotes business continuity (Wright, 201), and a culture of readiness for contingency actions. Companies that can simultaneously meet and overcome the critical, everyday demands of their crisis response can obtain unique information to inform their response and help ensure that their digital future is stronger after COVID-19 than before.

This is especially true in the case of digital strategy, where M&A can help companies attract talent and develop capabilities while providing access to new products, services and solutions as well as new market segments and customers. We found that during the pandemic a strategy for implementing a roadmap can reduce the time to complete the implementation. Additionally, there is a list of notable large-scale disruptive events and their consequences (Dolgui et al.). Similar to the reason why the redesign of the business model has taken longer to complete after the decision (see the table), when a transformation is considered important and revolutionary it requires approval and willingness to collaborate from all levels of the company in the planning phase; such approval takes time.