November 10, 2024, 4:05 AM
November 10, 2024, 4:05 AM
2024 is already ending and the business world is looking back to make a balance that allows us to project 2025.
In the country, the present administration, as well indicated, Cecilia Mass, specialist in Planning and Finance, business activity faces a very challenging economic environment that is difficult to pin down.
“We meet with GDP growth lower than expected and with greater difficulties in accessing foreign currency, necessary to import inputs and products essential for production and market supply. Inflation, higher than in previous years, impacts pricing processes, and we also face greater difficulties in accessing financing,” Mass explained.
In time to highlight that, unlike other years, Companies must simultaneously manage a greater number of variables, which represents a great challenge for senior management. and the different corporate governance bodies in charge of making strategic decisions.
In this regard, Claudia Pacheco, president of the College of Economists of Santa Cruz, indicated that the factors that entrepreneurs must overcome today is the lack of favorable conditions to invest in the countryYosa travands of legal securityYosays “as well asandn instability due to lack of deitherlares for the payment of inputs and a high financial cost that translates into products with less competitive prices”, to which it would be necessary to add the current irregular supply of fuel that directly affects the productive and labor programming of companies.
Faced with this scenario of uncertainties and challenges, what can the entrepreneur do? Mass and Pacheco agreed that the Bolivian businessmen previously, and in a minimal percentage, did not plan, today that has changed, they carry out planning for their companies and has even become aware that it must be certified internationally to offer its products or services abroad.
“This is part of the success that is demonstrated in their companies,” Pacheco noted.
What to take into account when planning?
Mass is convinced that There are some factors that can be controlled for internal strengthening “such as adaptability, resilience and collaboration, because they increase our ability to navigate changing environments and emerge stronger from crises.”
The specialist considers that there are four factors that help operational capacity and allows us to respond to situations of business and economic crisis, these are:
Develop an information systemin which you can manage what you see in the company.
“It is up to us to review the current state of our information systems and see if they provide us with the information necessary to monitor Commercial, Operational, Financial, Accounting, Regulatory (compliance) and other performance.
Have a cash flow, Because in challenging environments we are all owners of a cash flow.
Mass points out that, in times of economic challenges, many strategic decisions will be proposed from the financial areas, therefore:
Good management of Projected Cash Flow, as a financial planning tool It will help us “materialize” the plans and specify the expected results.
Cash flow management must be adjusted in terms of periodicity, going from monthly reviews to daily and weekly reviews, monitoring the net cash movement (income minus expenses) and precisely analyzing which accounts increase or decrease the flow.
Another aspect is to bet on a simplified planning process, Because improvisation is more expensive, Mass warns.
In this sense, the third relevant aspect for a challenging 2025 is Planning which, from a practical point of view, It must be oriented towards an alignment of resources and strategic priorities. A company with good planning can better align physical, financial and human resources in a more efficient way, for this it is recommended:
“Define strategic priorities, clarify expected results in terms of deliverables and evaluate progress periodically (weekly, monthly, quarterly) to adjust and take tactical actions with agility.
Finally, Mass does focus on coordination, since working on islands is a waste of money, Therefore, coordination between areas is vital, since response times are short and resources must be used efficiently.
“Although we all recognize the importance of coordination in difficult times, many times we do not give it the value or the appropriate time.. Each company is a unique ecosystem with its own culture, but applying coordination tools adapted to each case is crucial. Validating that teams understand priorities and deliverables is a time investment with a high return. By making coordination a habit, we close the gap between what we plan to execute and what is actually achieved,” explained Mass.
In this regard, Pacheco stated that it is essential that Entrepreneurs are aware of macroeconomic indicators and the trend of the indicators that involve your sector, second, having professionals on your team who manage finances efficiently and third, having collaborators with an innovative spirit.
What do businessmen say?
In response to this situation, Christian Parada, president of Juventud Empresa, said thatThe focus was on two strategic pillars: operational efficiency and portfolio optimization.
“First, we have optimized resources by digitizing key processes, which not only reduces operating costs, but it also allows us to be more productive with fewer resources. Secondly, we have worked to strengthen strategic alliances that allow us to share risks and explore new business opportunities. Finally, financial administration has been very important, projecting various complex scenarios and efficient treasury management,” said Parada.
He added that, in the current context of Bolivia, Advance planning remains essential for any business seeking stability and sustainable growth, in time to point out that reality shows that having an exclusively rigorous approach is not always enough. Economic volatility and unforeseen changes in policy require a margin of flexibility that allows rapid adaptation when the situation demands it.
Carlos Cleans, general manager of Empacar, explained that to face this challenging environment they implemented a set of strategies to face the economic situation. Among them, They eliminated their dollar debt to mitigate risks related to devaluation. They also increased their stocks of raw materials and supplies, and made investments in new machinery. that improve efficiency and productive capacity, reduced dependence on imported raw materials and increased the use of recycled materials in their production.
“Finally, We make price adjustments to avoid decapitalization and ensure the sustainability of the business. We invest a lot in innovation and we encourage it. A couple of years ago we created our innovation and development unit with the sole purpose of creating new products and solutions for our clients. Thanks to this, today we have a new business line called the green line that manufactures furniture, shelves, even sustainable stands for exhibitions. products with which we have already been lucky enough to export them for a fair in the United States,” CLINAS added.
Federico Stelzergeneral manager of Hpermaxi, said that due to the extensive development of consumer online purchasing, They have developed their “ecommerce” that has been operating since October and has been well received by customers.
“We have optimized the supply chain with a central warehouse that allows us to maintain a stock of security in certain products of the basic basket. Also, we implement very attractive promotions and offers for the client with the commercial team. These measures allowed Bolivian supermarkets to face the economic challenges of 2024, adapting to new consumer trends and strengthening our position in the market,” said Stelzer.
Which considers that in an unstable situation “It is important to make advance and coordinated planning with our strategic partners who are the suppliers. It is important to control costs, maintain operational efficiency in logistics, in inventory management; to be able to offer the lowest possible price,” he stressed.
In time to add that, Planning should not be static or rigid; That gives rise to “improvisation”. The best example was having arrived, during the blockade, with products to La Paz or Cochabamba, for which alternative routes were sought, Stelzer noted.
In turn, Cleans considers that Advance planning, with the provision of multiple scenarios, is always the best option. However, he warns that, in a highly volatile and complicated environment, flexibility is key.
“An agile, cohesive and aligned team in decisions can respond effectively to unexpected changes and adapt to circumstances,” Liminas said.
