Industry: Industrial Manufacturer
Develop organizational flexibility – Grow with resilience
After years of flat growth, an industrial manufacturing client looked to find a path for growth. The company had a shrinking list of customers in existing markets, and needed to expand its offering base in order to grow.
- Uncertainty with where the markets were going, paired with lack of attractive areas of opportunity.
- No formal review of competitive strengths and core competencies.
- History of unsuccessful attempts at bringing new products to market.
- Engagement with key stakeholders including Technology, Operations, Sales and General management to develop SWOT analysis on current positioning and to develop USPs (unique selling propositions).
- Creation of market assessments in five adjacent market segments including competitive landscape, profit margins and growth projections.
- Implementation of a new product development process designed to improve the success rate of new launches.
The final report delivered to the company identified 3 previously unidentified target opportunities for high margin growth based on expanding current capabilities. By including these targets in the company plans, the business forecast changed from 2% to 11% profit growth. This built excitement both among the internal team and with customers.