Strategy
Growth and Product strategies
Growth Strategy is a plan of action that allows a business to achieve higher level of market share and higher revenue, either in the same line of business or adjacent or of a different domain. It consists of the following 5 elements-
- Market penetration strategy
- Market expansion or development strategy
- Product expansion strategy
- Diversification strategy
- Acquisition of other entities
At Strat-Aegis, our approach is to support and advise client in development and execution of Strategic Success Position (SSP). This is achieved through an application of a structured process of domain knowledge; market, product, technology, environment, situational analysis and expected financial returns.
Information Analysis:
- Data Collection on Market, Product, environment, clients, Market driven financial indicators- Internal and External
- Tools such as SWOT, PORTER’s 5 F, Surveys, competition intelligence reports, Big Data analytics for validation of assumptions
- First draft of possible SSPs
Developing a strategy:
- Reinforcement of first draft of possible SSPs through market survey, Bench marking and real time measurement of impacts
- Develop envelop and definition of SSPs
- Validation- financial parameters such as Size of investment, time frame for implementation, returns etc.
- Select most attractive SSP which are meeting promoter’s aspirations
- Risk analysis and rank in order
Implementation strategy:
- Roll out of strategy through tools such as X-Matrix, Policy Deployment, Strategic break through process
- Organization preparedness-Talent assessment & reinforcement, compatibility of strategy with culture assessment, empowerment and training
- Development of SSP KRIs, communication, Goal setting and delegation
- Allocation of resources
- Time management/ program management and progress tracker
- Reward and recognition
“Strategy is to reposition and build resilience in today’s business amidst of UVCA world while creating the future.”
Product development and Go to market strategies:
A company’s growth may be classified as organic or acquisitive. In practice, companies exhibit features of both. Organic structures are those which have originated as a single company. They are based on one or range of products and services, they have grown through internal expansion, new products and establishment of new operations integral to the existing business.
Product development strategy should be integrated with firm’s business development strategy and culture. It should be deeply intertwined with firm’s vision and market positioning. Four core strategies shall contour a new product development strategy and they are;
- Cost Leadership strategy
- The knowledge Leverage strategy
- The Niche customizer Strategy
- The Global Brand Builder strategy
Product development begins with capturing voice of customer (stage zero) and then subject it through various advanced product planning process. NPD (New product development process) is often considered as the first stage of product life cycle management followed by launch, growth, maturity and decline phases.
- NPD strategy is developed with inputs from product planning and research, Voice of clients and expectation, accurately plan and resource the project
- Early involvement of suppliers results in innovative and agility
- Market Positioning narrows down product features
- Additive manufacturing, 3D Printing enables agile methodology to validate concepts
- Market launch including branding, pricing and distribution channel orientations
Strat-Aegis Implementation tools:
- Stage gate process and milestone based KPIs
- IDAM-Integrated Design and manufacturing methodology for agility and flawless development
- Product life cycle management software (PLM)
- Financial modelling tools for optimization of deliverables.