Business in Ukraine. How are we surviving the crises?

According to the forecast, the global English language learning market will reach 55 bn USD by 2025, growing by 7% annually. 

Leveraging this global trend, a Ukrainian startup has launched an online English study school called Allright. This is a mobile application using a virtual teacher who provides interactive lessons. 

Allright has attracted 5 mln USD from Genesis Investments fund to further develop the application. Due to investments, technology will be further advanced with AI. The company has ambitions to expand internationally beyond Ukraine to Poland, Spain, Latin America. So far, the business has been tripled this year in Ukraine which sets us good expectations for more Ukrainians, especially younger ones, to speak English, good English.

Despite political, economic, and Covid turmoils, States statistics data shows 7,6% retail turnover growth for 9 months of 2020 vs same period the prior year. October month itself retail turnover demonstrates impressive 15,2% like for like growth vs. prior year thus exceeding September 11,6% growth and 4,3% vs. September month. The growth is driven by 8 Regions such as Kyiv, Zaporizhzhya, Chernihiv, Volyn, Kirovograd, Khmelnytskyi, Dnipro, Poltava, and Kyiv city itself. 

How big multinational companies survive through 2020. Toplines of an interview with Emel Mordo, Top manager of Philip Morris Ukraine.

First and utmost, it is essential to accept that life will never be the same, says Emel Mordo. The working environment and working relations have changed forever: virtual connections and working remotely is already our reality. 69% of Millenials prefer this way of work and life according to Deloitte Global Millennial Survey, as it minimizes stress and balances life. 

Another key takeaway is the importance of digital skills advancement of the whole team and organization. According to  Gartner, Inc. research, Gartner Cautions HR and Recruiting Leaders that Only 16% of New Hires Have the Skills Needed Both for Their Current and Future Roles,  lack of talented people with essential skills is number one issue.

Be fair when doing performance appraisals, paying attention to both what was achieved and how it was achieved: efficiency, flexibility, adaptability.

Recharging batteries through sport, family time, reading, and smiling is what is needed today to win in business, concludes PM top manager. Let us stick to her advice to ensure we prosper in life and business!

EMPR

Publication prepared by Liza Tuka

Sources: kyivpost, emerging-europe

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