Explore the Universe of Opportunities
This first phase results in a long-list of business development opportunities and a mapping of the competencies and capabilities required to seize them.
Using a creative and pragmatic “Outside-In” approach the team typically undertakes a number of activities:
- Defines and describes the habitat in which the company’s business exists and maps out all the potential players operating in it, such as end-users, customers, competitors, collaborators, suppliers, as well as other influencers. Often this results in the drawing of an “Industry Value Chain”, also identifying new markets, segments, customers and partners perhaps not previously acknowledged as opportunities
- Creates transparency over how key customers (existing and potential new) invest, procure and select suppliers, what they are looking for from those suppliers and partners. This often includes a documented “Voice of the Customer” (VOC) study
- Maps out all the relevant players against the opportunities and customer needs, allowing the “winning competencies” to be identified
- Identifies viable opportunities that can be created and exploited. By using a SWOT analysis these opportunities will also include those built from enhancing and leveraging existing strengths, as well as proactively overcoming weaknesses and threats
- Based on the qualified portfolio of opportunities the team will identify the relevant competencies to be built or reinforced, assets and resources to be developed, and investments to be committed. This will be taken into account during the evaluation of the opportunities in the next phase, Roadmap to Success
For more information on how ClusterBridge can support you, please feel free to contact us.