Bo's Coffee remains 'hopeful, conservative' in navigating 'new normal' | ABS-CBN

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Bo's Coffee remains 'hopeful, conservative' in navigating 'new normal'
Bo's Coffee remains 'hopeful, conservative' in navigating 'new normal'
ABS-CBN News
Published May 29, 2020 06:37 PM PHT

MANILA -- The founder and CEO of the homegrown cafe chain Bo's Coffee recently shared the steps they are taking as they deal with the "new normal" caused by the novel coronavirus pandemic.
MANILA -- The founder and CEO of the homegrown cafe chain Bo's Coffee recently shared the steps they are taking as they deal with the "new normal" caused by the novel coronavirus pandemic.
In a webinar organized by the Philippine Franchise Association on Thursday, Steve Benitez admitted that the COVID-19 crisis was not something that they were prepared for, but he was quick to realize that they had to "take action to address the matter at hand."
In a webinar organized by the Philippine Franchise Association on Thursday, Steve Benitez admitted that the COVID-19 crisis was not something that they were prepared for, but he was quick to realize that they had to "take action to address the matter at hand."
"Within a few days I came up with this management strategy plan and I shared it with my team. And I would like to share it with you as well," he told the viewers on Facebook live as she showed slides from his 60-day plan.
"Within a few days I came up with this management strategy plan and I shared it with my team. And I would like to share it with you as well," he told the viewers on Facebook live as she showed slides from his 60-day plan.
Benitez said Bo's Coffee is generally taking a "hopeful and conservative" stance as it navigates the "new normal," with the entrepreneur mentioning in detail how his company has been adjusting to the quarantines and new safety protocols caused by the virus.
Benitez said Bo's Coffee is generally taking a "hopeful and conservative" stance as it navigates the "new normal," with the entrepreneur mentioning in detail how his company has been adjusting to the quarantines and new safety protocols caused by the virus.
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He spoke of making a "soft landing" by balancing resources and caring for the basic needs of his staff, with the goal of "taking flight beyond the crisis."
He spoke of making a "soft landing" by balancing resources and caring for the basic needs of his staff, with the goal of "taking flight beyond the crisis."
Benitez mentioned four Ps (protect, preserve, prepare, and pivot) and three Rs (reimagine, repurpose, and reorganize) as part of his plans for Bo's Coffee.
Benitez mentioned four Ps (protect, preserve, prepare, and pivot) and three Rs (reimagine, repurpose, and reorganize) as part of his plans for Bo's Coffee.
Among the things they have done in line with this strategy are donating inventory from closed stores to frontliners, setting more sanitary protocols, selling bottled coffee at convenience stores, repurposing the commissary as a front-facing store, and reassigning non-essential staff members to do more in-demand tasks such as delivery.
Among the things they have done in line with this strategy are donating inventory from closed stores to frontliners, setting more sanitary protocols, selling bottled coffee at convenience stores, repurposing the commissary as a front-facing store, and reassigning non-essential staff members to do more in-demand tasks such as delivery.
"We're very hopeful for the future that things will go back to normal... But as we do these things, we continue to be conservative in managing our cash, our assets, and our people," he ended.
"We're very hopeful for the future that things will go back to normal... But as we do these things, we continue to be conservative in managing our cash, our assets, and our people," he ended.
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