Increasing Strategic Scope To Uncover New Opportunities

Challenge

A major player in the household appliances industry (consumer electronics) wanted to reinvent their business and strategic scope in order to keep the lead in the industry and tap in to unexplored business opportunities.

Approach

Through a deep understanding of trends, overturning industry orthodoxies, establishing customer insights and leveraging the company's core competencies, we helped the client to expand the number of business lines as well as sharpen up the business model of current businesses.

Result

An innovation pipeline of ideas, concepts, experiments and ventures was developed and managed on a continuous basis.

Also, the competency of innovation was established as a core capability of the organisation, anchored in a department supporting new business development throughout the company. This lay the foundation for a number of new business that within the first two years accounted for US$50 million in sales.


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