Product development during the crisis – investment for the time after
- Posted by Gerhard Pramhas
- On 26. September 2020
A lot has been written about the Covid-19 crisis so far. We probably acknowledge every day that the crisis is not over yet. You are going to read what will be important for enterprises in the time after the crisis and how product development and process adjustment will be influenced.
What does the crisis mean for companies whose business model is dependent on product development and product progression? If you have reserves, the answer is pretty easy. In order to be successful or to become successful, you invest in research and development or in a nutshell: in new products! One or another will not be able to withstand the crisis, as it often happened in the past. That is unfortunate, but it is the case. Nevertheless, there will be a time after the crisis, in which your innovative products could be on number one of your costumers.
Challenges during or after the crisis
It is unsure from the current point of view when the time after the crisis will begin. You already need to brace yourself for that moment with new or improved products and processes – thus with an enhanced product development. Distribution will be a formidable challenge regarding this topic. Is the distribution able to acquire new development contracts on short notice? If this is not the case, it helps to give the development department the opportunity to independently develop products that are critical from a price umbrella point of view, in coordination with the accounting. However, this approach is by all means more effective than dismissing employees from the development. The loss of know-how would be much higher than the short-term effect concerning the wage costs.
Your situation is more difficult? There is a solution even for that!
What is it like for companies with reserves that are not enough in order to invest into the own development? That is more difficult. In that case, I have an offer for you:
I help you to enhance the procedures in the product development. After an analysis I do not tell you what you could do better. I implement the improvements with you together in situ, at the moment for free. You pay me when your orders are up again and/or you are extremely satisfied with my performance. If you are not satisfied or can not afford my performance, then you simply do not pay me. I simply engage in the risk. Let me know, when you are ready for it and contact me via telephone (+43 676 9560164) or via e-mail (firstname.lastname@example.org) or use the contact form.