Is UK economy grinding to halt after the Brexit vote? Could this result in permanent reduction in growth?
Following the Brexit vote, Baachu has been busy the last couple of weeks keeping our clients focused on their medium term plan and to balance their growth strategy. Yes there is uncertainity in the external environment. There are things businesses can still do on their internal environment, risk assess their position and be prepared.
Here’s our little takeaway for any business small or big thinking about doing a strategy review.
Firstly, if there is no explicit and clearly documented strategy in place, now is definitely a good time to do it. We encourage you to formulate a balanced growth strategy and create opportunities around it.
However, if a strategy document is already in place for your business, it is a good idea to reflect on how it has served you so far.
If you have won some bids, but lost some, we strongly recommend a root cause analysis of your bidding strategy. Evaluate where your growth is coming from? New business (N) or Existing customers (R) or Acquisition (A)
How balanced is your approach to growth?
Simply what is current weightage of these three forms of growth? We call these weights – components of our Growth formula.
With the new market conditions, will current weightage still work for you? What percentage will suit you better? Why?
It is also vital to understand your capability issues and look closely at the type of opportunities that you have been bidding and operating to determine if these were indeed good choices.
Will my current capabilities enable me to succeed in the market place and support my new growth formula?
In the next article, I will discuss some of the tactics businesses can incorporate in achieving balanced growth and building capabilities around the growth formula.
At Baachu, we assess the circularality of growth in your organisation?
We can demonstrate in 3 simple steps, how and where growth is generated, discussed, filtered, delivered, most importantly lost in the organisation? Depending on the growth needs of your organisation, we structure evaluate and structure the growth formula for your organisation. We analyse the effect on targeted growth based on internal and external environments.
Growth always comes at price. What is the impact of growth on your organization? It could be in terms of profitability, cash or organization function. Don’t forget to measure this!.
Are you a frontline outsourcing service provider looking to reshape or perform root cause analysis of your strategy, business development, business winning for 2017 and beyond? Our industry research analysis program covers virtually all frontline services – Justice, Healthcare, Waste, Education, Transport, Work & Pensions, Social Care, Defence, Aerospace, Utilities, Facilities Management, IT and BPO sectors.
And as ever, if you would like to discuss this more, we would love to hear from you. Please do send feedback or comments to us at email@example.com