New strategic opportunities
Major economic, digital, ecological and even democratic changes are creating new aspirations, needs and client behaviours. They are also creating opportunities and new markets. New entrants, often from the digital economy, are shaking up every industry, one after the other.
Today, every company needs to review their strategy on an ongoing basis. They have to challenge their business model. They also need to find new sources of growth to replace traditional activities.
Strategy and design
In this context, the classic approach of strategic planning, often based on benchmarking the company against competitors, has become outdated. More than ever, companies need to brainstorm and seek insights from clients, the market, data, human science and many other sources. Given the critical importance of internal buy-in for a successful strategy, employees need to be engaged in the process from the start.
An in-depth review of the client experience is also essential to ensure that a strategy is implemented effectively and delivers the expected outcomes.
Innovation and digital
Most market disruptions come from innovations. It is therefore crucial for companies to have a formal innovation strategy, focusing on initiatives with the potential for full-scale production.
Digital technology and data must serve strategy rather than being an end in itself.
Companies must, for example, develop a digital marketing approach to support the distribution of their products and services rather than simply digitalize their existing marketing practices.
Mergers, alliances, partnerships and ecosystems
In the 21st century, no company can integrate all the skills and expertise they need. Ecosystems, relationships and partnerships are more important than ever.
The key to success is managing largescale, complex projects while keeping employees engaged.