Does your business experience sluggish growth or productivity?
Is the root cause:
Weak service sales?
Lack of new services?
Problems applying services on a global scale?
Slow uptake of new services?
New services that are not profitable?
And perhaps research that is telling you your customers are receiving a deteriorating experience when interacting with your brand?
If any of these issues is proving problematic, it may be time to have a look at your organisation's service business strategy.
An ancient Chinese proverb states; “If you don’t know where to go, any road will take you there”. When it comes to service business strategy, it is highly appropriate.
Experience shows that management teams often lack well-articulated objectives, both financial and non-financial. Shortcomings in analytical work often impair the identification of obstacles to improvement. We also observe that management teams are not always aligned on strategy, the evaluation of strategic scenarios and the translation of strategy into plans and action.
What can we do to help you? The answer lies in five clearly defined steps.
Noventum takes a five-step approach to developing Service Business Strategy:
- Priming everybody involved in the strategy process.
- Situation assessment and benchmarking.
- Creating deep understanding of the issues and instilling a sense of urgency for change.
- A discovery session with the leadership team systematically reviewing issues, opportunities and prioritising them. This instills a common understanding amongst the team.
- Redefining the vision, creating a shared ambition for a future.
- Setting financial and strategic objectives.
- Identify strategic scenarios that will help achieve business objectives.
- Select the most appropriate strategy that represents the lowest risk and highest potential pay off.
- Developing an implementation plan and obtaining commitment from project owners and sponsors.
- If this involves large-scale change, this will take the form of a Service Transformation Plan.
A sound strategy that is properly communicated and understood creates energy and excitement.
Positive momentum will flow, reducing ‘fear of the unknown’.
Noventum can help you start the process of creating a new, powerful Service Business Strategy today. Our consultants will engage with your leadership team and assist in organising a workshop to start the strategy development process. Click here to contact your nearest Noventum office.