Reimagining current business model

DIGC invites experts in the areas of Finance, Marketing, HR for a discussion on ‘Reimagining Current Business Model’ in the ‘New Normal’.

Post Unlock 1.0, Reboot-Restart-Resurge has become the prime focus of businesses as they prepare to resume operations. Lockdown has brought to the forefront the hitherto unknown challenge of revival of business affected not due to fiscal or market demands but a scenario where the disruption has happened due to natural force. Even the best of the businesses would not have anticipated such a situation and it has caught almost everyone unaware. The need of the hour is how to adapt to the ‘New Normal’ and keep the business afloat in the coming months as ‘survival’ takes precedent over everything else.

It is now recognized that only by creatively repositioning business will lead to resurgence in the current scenario. The owners/decision makers have to be at the centre of all stress points vis-a-vis Finance –Marketing –HR to navigate the situation. A lot of factors will need to be taken into consideration while reimagining business like what will be the characteristics of the industry now in relation to the rising costs, changing technology, excess capacity, increase in digitization etc. Then there are the external factors to be considered like corporate debt crisis, increase in unemployment, high cost of finance etc. Another moot point to be taken care of is the fallout of Covid 19 resulting in disruption of demand/supply, changed habits of consumers, importance of health & hygiene etc.

With this as the backdrop, DIGC which has tirelessly been in the forefront of knowledge dissemination during lockdown had invited panelists who are experts in the areas of Finance, Marketing, HR for a discussion on ‘Reimagining Current Business Model’ in the

‘New Normal’. The webinar in Q&A format was moderated by CA Uday Dhote, Director – DOT Institute of Graphic Communication. The panelists were Mr.Yogesh Kamath (Director-Fundviser), a Chartered Accountant & Cost Accountant with more than 23 years of experience and an astute Business Analyst proficient in Complex Financial models. With his vast experience in debt restructuring and forex management, he was an apt choice for Finance. Complementing Yogesh was his partner Mr.Sivasubramaniam (Siva) (Co Director-Fundviser), an MBA with more than 27 years of experience specializing in long term finance and trade finance, and an expert in the area of Marketing. The third panelist was Mrs.Radha Ramesh (GM-HR) of Dhote Offset Technokrafts. Having more than 20 years of experience in developing and managing best practices in the entire gamut of HR processes she spoke on the challenges in terms of managing resources in these difficult times. And then, there was Mr.Tushar Dhote (Managing DirectorDhote Offset Technokrafts) who needs no introduction. He shared his insights on the role of technology and the way it will shape business in the near future.

The webinar started with a presentation by Mr.Uday Dhote. Yogesh raised the points like, how to balance finances, what should be the approach to collections, impact of high power and interest affecting exports etc. Siva dwelled on strategies in the face of reduced demand and means to resurge. He also elucidated on which business model - customer centric or product centric is best. They dwelled on the possibilities of mergers, amalgamations, buyouts becoming more prevalent in the near future. Radha touched upon the topic of management

of human resources in the future, hygiene factors playing a crucial role in availability of manpower and thereby impacting costs and customer demands, rising unemployment the economy, importance of training in reskilling and upskilling the work force etc. Tushar Dhote expounded on ways to neutralise excess capacity, need for innovative products, and why businessmen should still attend exhibitions like drupa.

Stalwarts from the industry including Mr.Pranav Parikh, Mr. Ramesh Kejriwal, Mr. Manoj Mehta, Mr.Dayaker Reddy, Mr.Ashutosh Tripathi, Mr.Narendra Kalapi, Mr.Sangam Khanna, Mr.Vinay Kaushal and Mr.Ramakrishnan along with attendees from across India participated in the event. It was also a webinar especially for print industry and with relevance for other industries which were adequately represented by the attendees. All in all the webinar showcased the never say die spirit of Industry.

Participants’ quotes/ comments on the Webinar:

Mr.Pranav Parikh: “The format of the webinar worked very well. The friendly and warm style of communicating and educating by Uday Dhote was excellent.”

Mr.Padmakar Ojale: “Very informative and interesting session. Doing justice to a large and diversified audience is very difficult but you managed to do so.”

Mr.Raveendra Babu: “Extremely good and very useful information. We appreciate DIGC’s initiative and efforts and thank you for giving an opportunity to hear lot of good things.”