Scottish International Week

Firms advised to connect, innovate and be focused

Russell Dalgleish talks to Bob Keiller via Zoom

* Bob Keiller: value your network, re-invent yourself

* Don Riddell, CNN anchor: there are ‘many Americas’

Companies should ‘get back to fundamentals’, tap their network and be prepared to innovate in order to survive the impact of the coronavirus pandemic, according to a Scottish business leader.

Bob Keiller, former CEO of Wood Group and chairman of Scottish Enterprise, told a virtual global audience that firms faced with challenges had to refocus and be prepared to try something new.

“Get back to the fundamentals of the business. Look at your customer base, stock levels, cash flow, sales pipeline.

“Some businesses have seen opportunities to grow but they tend to be in the minority,” he said during an online session for Scottish International Week, organised by the Scottish Business Network and supported by Daily Business.

Acknowledging that the rules had changed and companies were facing the prospect of their market being wiped out, he said: “In the past we would tell companies to expand their product base and move into new markets.

The potential to do business internationally is stronger than it has ever been

– Bob Keiller

“Today it is more challenging. Instead of focusing on product range ask about the skills you have, not what you did, but what you can do.

“How do you innovate quickly and purposefully? Some of this will be down to strong leaders saying this is what we are going to do and how you keep people on that journey.”

He said that technology had changed exporting and networking so that people were able to connect and trade without the need to travel.

Leave a Reply

Your email address will not be published. Required fields are marked as *

This site uses Akismet to reduce spam. Learn how your comment data is processed.