German managers focus on reducing cost and improving process efficiency to serve customers better. This focus can help you rebuild and strengthen loyalty. And put you in a better position to deal with factors beyond your control, like the pandemic.
In the days ahead, business will need to find its feet all over again and learn to deal with altogether new challenges. Maybe this is a good time to follow the example of my German friends.
Over the years, across industries, I have noticed German managers focus on two key aspects—reducing cost, improving process efficiency. Not just to increase profits but to serve customers better.
Whenever a German manager visits an Indian facility, conversations boil down to two questions. How do you measure and maintain costs and process efficiency at optimum levels? How do you pass on the benefit to the customer?
Chances are you may have had to venture into a new territory and discover an altogether new set of customers. Or you may have had to radically change your offering to your old customers.
Market conditions are not in your control but at the mercy of political, economic and regulatory factors. But what happens within your plant is. By focusing on improving efficiency and trimming costs, and by sharing the benefits, you can rebuild and strengthen loyalty.
Once this focus is ingrained in every aspect of how you do business, you are in a better position to deal with factors beyond your control, like the pandemic.