Rapid Strategy Development
 

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Situation

  • North American Business Unit of a global advertising and market research firm, with approximately $1B in revenue
  • Revenue and margins rapidly declining as the nature of advertising changed in response to new media
  • Needed a 3 year strategic plan to define their competitive position and align functional decisions

Actions Taken

  • Formed executive team with cross-functional representation
  • Two day kick-off workshop defined the objectives, approach and expectations
  • Core team members participated in weekly planning and review sessions
  • Team members prepared “homework” each week as input to the strategic plan

Results

  • The eight week program concluded with another two day workshop
  • This workshop was used to set final priorities, agree upon performance targets and develop action plans
  • Each executive team member then developed functional strategies for their individual area
  • Firm returned to profitability within 12 months and continued to gain market share
  • Cooperation and alignment increased dramatically across functions
  • Turnover at the executive level dropped to near zero