Competing in today’s turbulent times not only requires innovation and adaptability, but also courage and strategic thinking. Ing. Stiva Jokeš, Crisis Manager and owner of BM4U, together with his team of top managers, has completed many successful projects around the world. In this interview he shares his perspective on current challenges and strategies that can not only help companies survive but also thrive.
Mr Jokeš, how do you perceive the current market situation and the main challenges that Czech companies are facing today?
Turbulent times bring a number of challenges, from geopolitical risks and currency fluctuations to rising energy prices, from divergent price levels between the US, EU, China and other BRICS countries to pressure on ESG standards. These and other factors destabilise many companies, but they also create opportunities for those who can react and adapt quickly.
You mention that the key to success is adaptation. What specific strategies do you recommend to companies?
There are basic considerations of threats and opportunities that management and owners have right in their job descriptions. Here are our challenges!
Expand: Stable companies can take advantage of weakening competition to grow in new markets, new segments or new products. Survive: If the crisis is too close, focus on efficiency, loss minimisation and crisis management. Harvest: If the market is reaching its peak, maximise profitability and prepare to exit the segment. Consider conserving or even liquidating the business and invest money, time and energy elsewhere. Sell: If you can’t find another solution, consider a strategic exit or the sale of part or all of the company early on. Just because it no longer makes sense for you, doesn’t mean someone else will have the same conclusion.
Then there are technical moves to support the core strategies – transformation and diversification.
How can companies manage such complex processes if they lack their own experts?
This is the key moment when it’s time to turn to the professionals. BM4U has a team of 150 executive managers who specialise in business expansion, supply chain management, new plant construction, strategic transactions and intergenerational exchange. We not only offer know-how and implement strategic projects in Europe, but also in America, Asia and Africa to help companies adapt and succeed.
What is the key to successful cooperation with BM4U?
Understanding the specific needs of each company is important. We design each project in a tailored way, with an emphasis on measurable results. Our managers are not just temporary help, they become a long-term part of the team.