Growth Strategy
During growth strategy engagements clients often ask for help to define a ‘path’, demanding a ‘business strategy’ or ‘business plan’ or ‘strategic plan’.
Regardless of what they call it, we get it! What they mean is that they are serious about growing their organization, and want to take thoughtful decisions about their organization’s future.
What they require is a framework, written, discussed and agreed; that captures the vision and aspirations of the owners and/or leaders, examines what they know about their markets, products, competitors and competencies; and suggests a way forward to achieve their ambitions.
We therefore call this a Growth Strategy or a Growth Plan, and our approach combines the best elements of business planning and strategic planning into one comprehensive framework, which you can review below.
Confirm the need for change
- Snapshot of macro and market trends
- Your objectives and current position
- Gap analysis – current and desired position
- What-if analysis to show impact of unchanged strategy
Set Strategic Direction
- Revisit Mission, Vision
- Develop values and guiding principles
- High level internal and external examination (SWOT)
- Frame long-list of proposed growth areas
Prioritize Opportunities
- Deep dive by proposed growth area (outside-in)
- Ranked list of opportunities
Qualify Opportunities
- Capability gap assessment
- Assess market-competency match to prioritize opportunities
- Initial business case & risk assessment
- Qualification of opportunities
Define Growth Dimensions
- Map key dimensions of growth – offerings, geographies, and customer segments
- Assess organic and inorganic routes to growth.
Operating Model
- Define operating model needed (Organization Structure, People, Processes and Technology)
- Detailed go-to-market approach (including build / buy / partner decision)
Strategic Initiatives
- Define strategic initiatives to be undertaken
- Creation of detailed Business Cases with functional-level plans and detailed financial projections.
Change Execution
- Create change plan to implement strategic initiatives
- Action monitoring and governance processes
Analysis of the trends reshaping the organization’s external and internal environment and making it essential for it to evolve/adapt for the future, including whether it needs to refresh its mission and objectives.
Strategic Levers to be addressed by the whole organization and by individual business lines to achieve ambitions
Growth Strategies around the 3 key dimensions of growth – offerings, geographies, and customer segments. Organic and inorganic routes to growth.
Business Model with corporate and/or business strategies, with the supporting rationale for each.
Business Plans downstream from the strategic plan, with functional-level plans and detailed financial projections.
A Change Road-map with key aspects such as Board and Leadership governance processes for change implementation.
(Mission, Vision, Values and Guiding Principles
Macro-review
Capability assessment
SWOT
Growth strategy and go-to-market plan
Operating model recommendations
Strategic initiatives
Change plan & Governance processes)
Cross-organization Buy-in for change
Use of key Strategic Levers to optimize the mix of offerings, geographies, and customer segments in a clearly defined Business Model
Clear understanding of actions and initiatives to be undertaken at corporate, SBU and functional levels
A Change Road-map already baked into the strategic plan from the initial stages itself, with key aspects such as Board and Leadership governance processes for change implementation.
(The following is a non-exhaustive list of engagements provided as a sample of total experience)
Strategic Planning for a large diversified Indian manufacturer of consumer products such as luggage, toys and furniture. The assignment involved the analysis of the various businesses to assess the long term potential for the group, the development of revenue generation strategies and the examination of the downstream functional implications.
Corporate Planning for a producer of ceramic products. This involved an analysis of the industry structure and operating norms, an examination of the client firm’s capabilities and the design of appropriate competitive strategies.
Business Strategy and Corporate Transformation for a member of one of India’s largest and oldest corporate groups in the automobile ancillaries sector. After reviewing markets and customer needs through a Voice of Customer exercise, a detailed market-product strategy was drawn up and implemented along with structural and systemic changes to marketing, manufacturing, human resource management and purchase functions.
India Country Strategy for US NGO – Operating for 15 years in India, this NGO had grown erratically, with 7 programs spread over 4 themes. This affected both funding as well as operational efficiencies. The engagement therefore rethought its rationale for existence in India, the thematic and program approach to be followed, proposed a shift in the operating model in terms of organization structure and support capabilities, and identified key factors required by changes in the internal and external environment to be addressed.
Strategy Review for a MNC dyes and chemicals manufacturer The project involved a review of the business strategy of the organization in light trends in the macro-environment and in user industries, and the formulation of recommendation addressing strategic and operational issues.