Case studies
| #17 Company Reference |
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| Alcoi, Spain, 2019-Present Retail businesses; 48 Establishments & 106 People involved |
| Abstract |
| Situation In 2019, the "Alcoi Prestigi" project begins with the impulse of the City Council and the aim of helping to improve the competitive capacity of Alcoi city's retail trade. The initial situation is not significantly different from that in other regions where syncplexity developed similar projects. In the first place, decision-making is poorly based on data and statistics. Secondly, emotional management is a totally foreign phenomenon for business as well as the use of the listening process in order to know the actual wishes of customers. None of the establishments participating in the project had considered developing a unique concept or specific added value of their business. Pricing criteria are not based on thorough and continuous cost control and benchmarking. To complete the picture, the need for a professional online sales culture is, at best, highly distorted. Mainly, work is not being done in the areas that online commerce demands in the current decade of the 21st century. Strategic Approach The initial approach of the project is to generate a deep awareness that business improvement requires a profound personal change. Without a new vision, the business can't evolve. In turn, the individual vision that limits the scope of our decisions can only change if our habits change. Thus, participants in the prestige-based competitiveness project are fully immersed in a serious culture of emotional management, which includes a thorough understanding of the listening process and the necessary personal change required both for its proper management and for superior insight in decision making. Positive thinking becomes the keystone of individual behavior. In parallel to personal development, processes and tools for analyzing financial balance, customer buying trends, and purchasing management are initiated. Product management has started to become more professional, generating a clear awareness of how much this facet affects the prosperity of the business. These new responsibilities exert considerable pressure on individual agendas, which specific work on time management addresses. Second Phase The second phase of the “Alcoi Prestigi” project starts again in 2020 with the support of the City Council and, additionally, in collaboration with the Chamber of Commerce. In this stage, particular emphasis is placed on consolidating the transformation initiated in the previous step. In addition to this necessary consolidation process, the work plan includes a specific focus on the next level of value-added generation, which in turn constitutes the primary axis of the new commercial promotion culture event-driven. The Prestige Behavioral Matrix continues to develop, facilitating the necessary individual change process ularly in innovation-related facets such as creativity. However, at the beginning of 2020, the COVID-19 pandemic broke out and hit most of the retail trade very hard; of course, this also affected the participants in the "Alcoi Prestigi" project. In these circumstances of confinements and restrictions of all kinds, the syncplexity model is tested to the limit. The necessary ingredients for the online business structure are not ready yet. On the other hand, consumer habits change drastically in a matter of a few days, which creates extraordinary emotional pressure on business owners. It is precisely in this context that the model is reinforced as a confidence generator for the businesses that are implementing it. One of the COVID pandemic consequences is that the work process has been altered substantially, which means that the second phase of the "Alcoi Prestigi" project could not be completed by the end of 2021. Key Results - After 24 months The results that demonstrate an evident ability to deal with critical situations can be appreciated by considering the following summary: |
