Scorecard: Ready to restart your business in the Low Touch Economy?

Find out what more you need to do to get your business through Covid-19’s aftershocks with the Low Touch Economy scorecard.

It’s difficult to know whether your response to Covid-19 will be enough. Some businesses have made big changes to their processes and services. Some have struggled to change anything – opting instead to weather the storm.

Who’s to say which move is right? This is a new frontier. Without the benefit of hindsight or concrete results, it’s difficult to determine whether the measures you’ve taken to protect the future of your organization were the right ones.

Difficult – but not impossible.

We propose that you can predict your potential for success. How? By looking at your organization’s response and seeing whether it aligns with the changes we already see in society. Are there any gaps? A shift in behavior in another industry can foretell additional market shifts elsewhere. 

Keep these changes in your peripherals if you want to continue meeting changing consumer needs, fend off challengers, identify white-space opportunities before the competition, and avoid a fate like that of Hertz and JC Penney.

Has your business done enough?

By now, most organizations have made moves – large or small depending on their industry – to respond to at least some of the aforementioned Covid consequences. They’ve pivoted business models, cut costs, made work safer for their employees, and started to do things differently to safeguard consumer trust. 

But how do you know you’ve done enough? Are you falling behind competitors in a key area of low-touch adoption? Are you missing opportunities? 

To help you find out, we’ve created a blueprint in the form of the Low Touch Economy Scorecard. 

It identifies 10 areas to cover in order to see your business outlast the Covid-19 virus. The second-order consequences are only now unfolding, so you’ll notice we’ve put more weight on the first-order consequences. When more info becomes available, we’ll update this tool additional details.

You’ll find the complete scorecard below. From one to five, indicate to what extent these elements are true for your business (one being not true and five being very true).

  • Score 1 or 2 in all sections? 
You should be able to adapt your organization with minor tweaks.

  • Any score of 3 or above indicates an area that could pose a significant hurdle for growth in the Low Touch Economy and should be addressed.

  • A total score above 25? You will need to redesign a large part of your business model and/or operating model if you want any hope of playing a role in the Low Touch Economy. Your organization should prepare for potential aftershocks in the market. Identifying these areas will enable you to innovate solutions.

Like it? Share it!

Share on linkedin
Share on facebook
Share on whatsapp
Share on email
Join 30K+ innovators and receive our latest posts