How can a company with a single breakthrough technology diversify to position itself for sustained growth?
Innovation is a capability, not a one time event. When the same creative thinking that gave rise to a product breakthrough is applied to the challenge of identifying new market opportunities, the organization finds answers where before there were only questions.
Situation
Our client disrupted the industry 10 years ago with cutting-edge technology that changed the way data travels through a network. With other players entering the space and customers asking for help with a wider range of problems, our client knew they had to evolve from a single to a multi-product company and expand into new areas.
Challenge
An Office of the President had been created to facilitate the evolution, but the President and his directs were not sure which changes were required to position the company for future growth and diversification. In addition, various members of the team had differing viewpoints on how the organization should evolve, creating uncertainty in the organization.
Resolution
Trium knew the problem needed to be approached from several angles and started with an organizational diagnostic to understand the clarity of the strategy, how aligned the executive team was around which strategic path to pursue and how effective the leadership team was at reaching alignment on big bets. Trium custom-developed a way for the executives to have a holistic "where we play and how we win" strategy discussion through a set of well-framed dialogues. The dialogues allowed the executives to have dialogues at the right level of detail and to also see where their incoming perspectives had differed and how to align them much more quickly. While preparing for the strategy conversation, Trium also administered an in-depth 360 process for each member of the executive team, as it was clear that leading the company to create another marked disruption would require some new team and leadership behaviors. Our process allowed us to get very specific on what to change and how to do so.
Trium helped build an “outside-in” view of strategic options that enabled the client to make decisions about future growth based on customer needs. Through Trium’s engagement, the executive team got clearer on the set of winning plays they wanted to pursue, taking into account current organizational capabilities and ones that would be needed in order to grow. What started as significant misalignment around which direction to take ended up resulting in a prioritized plan for growth for the next 3-5 years. In addition, through the 360 process, executive team members – many of whom had been with the company for 10-15 years – awakened to their personal leadership opportunities and reconnected to why they were inspired to continue the journey.
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