The business was facing an ongoing decline that had seen it drop from a peak of $16Bn down to $1Bn in revenues and falling. With the core business becoming unsustainable, we were asked to build a growth strategy to develop a new offer to market that could replace the majority of current revenues.
We undertook global market research to clarify that there was a realistic opportunity, then ran customer insight within 4 regions. Having identified major areas of potential with key needs, we ran innovation workshops in London, Hong Kong and New York to identify possible solutions. We then identified costs, designed a roadmap, developed the business case and presented back to the Board. The output was a plan of action to create a business that could generate $0.5Bn / year in revenues after 5 years.