Already a world leader in their field and with a FTSE-250 listing to their name, our client was on the hunt for new opportunities to grow. They asked us to take a fresh look at their strategy, but with one important proviso – we had to involve the business closely in setting any new direction.
We began by helping the business understand ‘where to play’. We worked closely with senior executives and managers to pinpoint the markets and segments where the company could compete successfully and profitably. Then, still collaborating closely, we developed new propositions for each of the priority segments. Getting these right depended on really understanding customers’ needs. So, with our support, the company’s sales force carried out more than 180 customer interviews.
This work became the basis for a new growth strategy with customers at its centre. Our business design experts then drew up a set of new operating models so that the group could reorganise worldwide around industries rather than geographic regions. Our people and talent specialists defined the skills the new industry-focused sales force would need.
Over the course of the project, we held ten full-day workshops with the business’s executive team and involved more than 200 employees in shaping the new strategy and business design. It resulted in a strategy that has full backing from management, and produced a clear structure for putting plans into action. Both are bearing fruit. Since implementation of this servitization approach began, growth and profits have increased, and growth levels now outstrip those of the wider market.