Business in malta in the new reality | Audit and Advisory Services Malta | Griffiths + Associates

Business in the new reality

The consequences of COVID-19 and quarantine are global and will stay for a long time. Business needs to change strategy and planning, and become more flexible to adopt to the new reality. Online processes cannot be stopped.

How online diversion has affected business

The diversion of business to online platforms has just started and would seem to be lasting quite long. Following experts’ opinions, this process is expected to take to mid next year. The majority of businesses expand online opportunities that help them to solve certain problems as they arise.

To be successful in the new reality and make business stronger we would need to master new skills and experience. Working online is the most difficult for those, who sell services and complex goods.

Online opportunities

Internet resources come to help businesses solve such problems.

One speaks of a fourth industrial revolution that offers the opportunities to divert all the business operations to the digital realm. Organizers of the different events, which were happening in real time before, use the virtual online platforms for this reason and to help people connect.

Businesses hence take advantage of the technologies to expand their offering in B2B and B2C online meetings, interactive content sessions and open panels.

New skills

Working online requires from people the development of new skills, as well to make them more self – organized and creative. Another requirement, which arose, is to be able to express one’s thoughts quickly and clearly.

It is much easier to say than to write; everything seems logical when a person talks.  However, when the same thought is put on paper and then read, it happens quite often that the narration is not the best example how the idea is.

Therefore, putting thoughts correctly in writing is also a great skill to be learnt. This is the proper time now for those who possess strong writing skills; the compositions and literature lessons at school with hindsight do have their fair share of utility at this juncture.

Matter and format

Every business bases on matter and format. Matter defines the integrity that what the business is.

The format of every business changes nowadays. New technologies, expertise and experience are vital nowadays. The digital era is moving with giant leaps. However, matter is still the same here.

Smart, talented and intelligent people are always an asset for an organization.

Technology will never replace humans, at least for now. Those, who try to solve human problem by installing software only will struggle in the long run. While the software calculates in a linear manner, the human mind is quick – witted and finds an alternate route.

The importance of live communication

Live communication is very important. Trading implies there is a feedback, like two – sided traffic, and the emotional component is very important to get a good result.

Every product is wrapped into the emotion; that is what a customer comes to buy in the first place. How much the customer is ready to pay to obtain an emotion? Even more than he can afford. Humans and emotions have a value which is hard to quantify at times.

Experience

Knowledge, practice, professionalism, communication, information are all aspects an experience bases on.

Knowledge is the most valuable product. The innovative world, new features and fast growing technologies open new opportunities for the business. Business steps up with the time, getting new experience.

Evolution is not possible without the human mind; all the innovations are produced by human flair. Mind remembers the prototypes, which are taken as a basis of any innovations.

Finally, at times it happens that things were discovered long ago but re-introduced just nowadays. This proves the knowledge is primary and superior to experience and the new is what has been forgotten.

Action

Despite how things happen it is necessary to constantly improve – to learn, to develop, to create, be optimistic and go ahead.

It is impossible to get over new challenges, having only past knowledge and experience.  Therefore, we have to be fully prepared.

Result

The current market is required from both vendors and customers to follow high standards of technologies.

Being a member on the market of services we accept the rules and move with the times.


 For the past three months Griffiths + Associates took part in the following online events:

  • Virtual MariMatch 2020 – International Maritime Event that took place on 2 – 4 September 2020
  • eMariMatch 2020 – International Partnering Event of the Posidonia Web Forum Week that took place on 29 and 30 October 2020.
  • Virtual Boat Show 2020 that took place on 7 – 8 November 2020 in European time and 21 – 22 November 2020 in AEST time.
  • BE@Smart Manufacturing Matchmaking 2020 – Virtual Edition that took place on 18 – 20 November 2020

The Maritime Events  – Virtual MariMatch 2020 and eMariMatch 2020  were targeting companies, clusters, international decision – makers, research & innovation stakeholders from the maritime sector looking to cooperate in the following areas:

  • Shipbuilding, repairs and refits / Shipyard industry
  • Maritime transport: logistics /ports
  • Green shipping / Green ports
  • Electronics, communication & navigation
  • Mechanical and Auxiliary systems
  • Nautical sports, Leisure vessels & Tourism
  • Maritime services
  • Maritime Safety & Security
  • Marine Research, Development & Innovation
  • Marine bio-economy

Participants from all over the world were given the unique opportunity to meet with potential business partners, establish new cross – border contacts and share their knowledge and expertise using the facilities of the online platforms.

We are happy to announce that during the Virtual MariMatch and eMariMatch 2020 Events our company set up the connections with the following participants:

  • Smart Design 2006 LLC
  • Adaptive Engineering Solutions Ltd
  • Astilleros de Santander SAU
  • Euxin Marine Design
  • Leading Edge Marine Engineering
  • VarShyp Design
  • Marino Consulting Ltd
  • Micad SRL
  • IA2 srls
  • Hefring Marine
  • ION
  • iSAILING PROJECTS
  • Synkronex
  • METRICA S.A.

All of the above mentioned companies are highly qualified in their industries of expertise, and they consider to widen the opportunities for their business establishing new contacts through global networking and the use of online facilities.

To improve our “digital experience” on the market we moved forward and took part as an exhibitors in the Virtual Boat Show 2020 – a multi – session online event.

That was a precious experience for both organisers and participants to target the maritime market using the online facilities.

The virtual show took two online sessions on 7 – 8 November 2020 targeted the European market and 21 – 22 November for Oceania zone. The platform will remain active to visit and download the materials until the end of December 2020.

Being updated on the latest matching advanced technologies, innovation demand from institutions and companies, Griffiths + Associates took part in BE@Smart Manufacturing Matchmaking 2020 – Virtual Edition.

The BE@SMM 2020 has covered the topics, which concernd the Industry 4.0 the current trend of automation and data exchange in manufacturing technologies and includes cyber – physical systems.

We have joined the multi – disciplinary community of company managers, researchers, scientists, public bodies working in the area of Smart Manufacturing and Industry 4.0 captured the start – up companies, micro –, small –, medium – and large – sized enterprises looking for the growing world – wide.

 Taking part in the Virtual Events gave an opportunity to improve the experience, knowledge and expertise – the important elements, which describe the quality of services we provide on maritime market.

In conclusion, the new contacts we made following the Virtual Events may help to obtain a stronger position for each side in respective markets, proceed further in elaborating matters, conclud cooperative agreements accordingly.

Author: Liudmyla Skryvanek

Liudmyla Skryvanek - Maritime Connections Worldwide