A major global biopharmaceutical organization realized the need to improve the value obtained from their annual strategic-planning process. As part...
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A successful business strategy needs to be founded on reliable assumptions and decisions based on facts and tailored to organizational capabilities
Strategy and Business Innovation
Innovative strategic planning generally involves combining multiple organizational functions. This process requires organizations to build strong relationships across functional areas, set strategic goals, and detail the achievement or execution strategy to deliver value. While each business function will be responsible and accountable for their decision-making process, mapping out the strategy for development, execution, and monitoring progress through key indicators will become common goals. We work together with organizations to develop a robust strategic planning process and guide transformation and growth.
Although a Shared Service Organization is not a complicated concept, making it run smoothly and without disruption can be quite a complicated process. It involves consolidating and standardizing multiple functional areas, systems, processes, geographic locations, and resources. This demands an organizational environment that encourages cooperation among several business units.
Organizations that understand and implement an innovation process as a critical capability to drive growth will gain increased ability to successfully develop and launch new products and services in a competitive marketplace on a sustainable basis. A stage-gate process is an innovative multi-step logical and fact-based decision-making technique, where a potential project is required to pass through several sub-phases or stages. Each of these has straightforward resource and financial budgets established at the beginning of each stage. The project will only progress into the next stage after having assessed priorities and overall potential.
Then a new budget and resource allocation take place for the next stage. This process facilitates value-generation and advanced risk models to match an organization’s best ideas with the appropriate funding by an outcome and resource focused innovative decision-making process:
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Establish an agile approach and project governance
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Enable projects to prove itself in terms of performance and potential
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Evaluate and monitor project progress
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Utilize organizational resources adequately
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Guide and monitor decisions on project funding
We work with organizations to improve their ability for a successful decision-making process through a stage-gate phased project evaluation approach that produces fact-based funding decisions based on a set of defined evaluation criteria.
The common goal of strategic innovation for organizations
Strategic innovation aims to drive transformation, business growth, and increase value for organizations and their customers. Constantly re-evaluating corporate strategy to include new fact-finding, innovative processes, and new practices will provide a competitive advantage in the long run.
Businesses are paving the way for change, innovation, adapting, and transforming the organization towards growth.
This is what makes the strategic evaluation key to the overall success of each organization.
Innovating corporate strategies include the following considerations and focus areas:
- What services or products need to be adjusted or developed?
- What markets to compete in?
- What operational models need to be evolved?
- How to optimize business processes?
- How to expand the customer base?
- How to position the company’s selling points for target customers?
- How to improve the supply and value chain more efficiently?
- What changes are necessary for our go-to-market strategy?
Expertise in Strategy and Business Innovation
In today’s fast change environment, organizations need to improve their classical strategies and business models to sustain and advance their competitive advantage:
- Identifying and evolving ideas with excellent business potential into new opportunities reinvent and generate value
- Defining an innovation strategy that best supports each organization’s business strategy empowers the executives and employees to gain adherence to the most relevant areas of transformation
- A balance between short-term success and long-term strategy paves the way for sustainable company success
Our approach is quick-win-based but long-term-focussed towards establishing sustainable project outcomes consistent with its objectives.
This helps synchronize organizational development, change priorities, and provide sustainable solutions to a complex business environment.
Overall, it allows promising ideas to become concrete opportunities boosting value and productivity.
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