Hybrid business models inclusive
By Edward Mukaro
HYBRID business models have become the order of the day for serious business-minded entities, as the model makes use of traditional commerce and e-commerce, giving them a competitive advantage from different markets.
Recently, the ZITF 2021 adopted the Hybrid model, setting the tone for other exhibition organisers, as the global village adopts the new normal.
In simpler terms, the hybrid business model is the combination of business strategies between online and offline strategies.
The advent of Internet technologies has impacted the way we do business. It was once believed that the Internet would bring about a business revolution and all business would be e-business.
However, the revolution of the Internet has not yet turned out to be anything we once thought it would be. There is evidence indicating that not all businesses have transformed into online businesses and not all consumers prefer to engage in online activities.
In fact, some consumers still prefer to engage in traditional business processes. The reality is a hybrid model, which is the convergence of traditional and online methods.
The hybrid way of doing business comes with sustainable development for the Zimbabwe Agriculture Show (ZAS), in particular, as most if not all conferences that were held physically were also accessible online.
In light of the COVID- 19 pandemic, the move by ZAS to host a hybrid fair is a master-stroke that may see this year’s exhibition become a resounding success as it is a fact that ‘not all consumers prefer to engage in online activities and some consumers still prefer to engage in traditional business processes.
Businesses are going to have to change in order to survive, however, the switch is already happening.
No doubt, COVID- 19 has forced business to rethink and restrategise business models to stay afloat.
However, other event organisers like the annual Sanganai/ Hlanganani Tourism Expo have chosen to be more cautious, in light of the COVID- 19 pandemic, choosing to host this year’s edition virtually, again just like the previous.
The 15th edition of the annual Expo will run from the 27th – 29 October 2021.
The virtual system, which was developed in-house has since undergone enhancements to include on demand meeting requests platform, live HD video conferencing, and a virtual auditorium for interactive webinar sessions as well as virtual exhibitor booths.