From decline to double-digit growth
After years of consistent double-digit revenue growth, the largest SBU in a $700 million technology company had seen growth tail off to 5% a year or less. While market conditions partially explained the decline, the CEO believed that execution was the underlying cause. Product teams chronically devised growth initiatives and targets that never materialized or produced as planned. What seemed like promising growth opportunities on paper rarely yielded expected results, while truly profitable growth options went under-examined and unpursued.
Market Strategy Group helped the company set a new course and then guided the leadership team on executing the new strategy – focused on rejuvenation. During our involvement, revenue growth at the company's largest SBU increased from 5.7% in Year 1 to 6.3% in Year 2 to 12.1% in Year 3, with growth levels on track to exceed 20% in Year 4.