Taylan Demirkaya, Lecturer from IUE Faculty of Business has been the first guest of the series of webinars titled, “Transformation in Tough Times”, co-organized by Izmir Chamber of Commerce (IZTO) and Faculty of Business, Izmir University of Economics (IUE) to support companies in the difficult period caused by the coronavirus. Demirkaya, who delivered a seminar titled, “Agile Innovation Strategies in Pandemic Period”, stated that crises created entrepreneurs in different sectors, and that it would be beneficial for companies to gradually invest in all operations that could be digital transformation.
In the seminar, which is available at IUE’s
https://www.youtube.com/watch?v=nwbIHtTmhbY link, Demirkaya noted that with the pandemic, private life and work life were intertwined, e-commerce, logistics and e-health applications would increase. Demirkaya made the following recommendations:
“Make at least 18-month plans. Invest in innovation and R&D to the extent your industry allows. Invest gradually before it is late in all operations that may be digital transformation. If the pandemic lasts 6 months, there would be a V-shaped growth. Many sectors, including tourism, would recover. U-shaped growth will occur if it lasts 18 months. Tourism and similar sectors would move to a new area. If the pandemic lasts 3 years, there would be L-shaped growth. Risky sectors exit the market. Tourism, travel, food and beverage, sports, and entertainment sectors are among the groups with high risk. Sectors facing a medium risk would be fuel oil, music, alcoholic and non-alcoholic drinks, commercial automotive and retail sectors. The lowest risk group includes the pharmaceuticals, special automotive and software sectors. There will be a transition to a low-touch economy.”