Global Manufacturing and Engineering Firm
Hit by the global economic downturn in recent years, this company decided to strategically integrate growth and innovation into their operation to regain market share and thrive.
The client, a diversified multi-billion dollar industrial company with operations in more than 30 countries, committed to formally incorporating Growth and Innovation into their organization’s DNA, accelerating its growth. They aspired to shift from being a primarily cost-based culture to one that balanced cost and growth. It was essential for them to define how their diverse businesses would manage and enable Growth and Innovation, including developing a roadmap that included priority initiatives, sequencing, key actions and milestones, accountability, success metrics, quick wins and sustainable cultural transformation.
Collective Next partnered with the company’s business segment leaders and honed their segment strategy stories, and developed them into high-impact, graphic presentations. These presentations were key inputs into the Growth and Innovation Session.
The session: Collective Next co-designed and facilitated the three-day Growth and Innovation Session, involving 75 of the organization’s key stakeholders and leaders from around the globe. First, participants level-set on the context of their situation and challenges, and predicted potential future state events which could impact their growth and innovation. Participants learned about the company’s major segment strategies, and collaboratively built a shared vision of future success of Growth and Innovation in the organization. They identified how to address new and emerging markets, explored innovating their products and services, and defined how to achieve top quartile internal growth. They established a Growth and Innovation framework and process to define and prioritize the commercial viability of initiatives and ensure successful, measureable execution; an inventory of skills, competencies, tools, and processes necessary to enable Growth and Innovation; and a three-year roadmap to achieve it.
Identified and aligned around innovative initiatives to address new and emerging markets, previously unexplored cross-business-segment opportunities to grow existing clients and products, a collaborative process, and a commitment to seek cross-segment opportunities
Created a growth and innovation framework and process to define and prioritize the commercial viability of initiatives and ensure successful, measureable execution
Established business segment Growth Councils to leverage best practices, relationships, and processes across the organization to accelerate growth
Defined the top five growth and innovation tools
Constructed a high-level integrated roadmap and consensus-based metrics they could begin executing immediately, building upon the session’s momentum
Aligned on moving toward a Growth and Innovation culture; through these sessions, the diverse set of leaders has adopted a more collaborative, communicative, and accelerated way of working, enabling them to plan and execute more effectively.