Revenue growth
New services and product offerings, and broader sources of revenue from the customers you already have.
Approach
Deciding what the innovation is for, before deciding what to build
There is no single kind of innovation. Which one applies depends on the stage your company has reached, where it is heading, and what you actually want out of it. It is not necessarily new technology either: most often it is doing a known thing differently, and more effectively, than you did it before. Our in-house Registered Management Consultants settle which it is with you, before anything is designed.
Develop a new product
Where there is an opening for a genuine change in what the market is offered. We can help conceptualise and commercialise the idea, in the strictest confidence.
Protect market share
In a moving global market, continuous innovation is often needed just to hold position. Technology and data are how that position gets defended.
Sell or licence the innovation
Where the aim is an exit. Once the innovation is developed it can be sold outright or licensed to another organisation.
Retain more staff
A visible commitment to innovation gives skilled people a challenging and creative environment, which is a large part of why they stay.
Improve operational efficiency
Where the objective is cost, taken out by streamlining how the operation actually runs.
Recognition in the marketplace
Where the objective is profile, raised through an innovative approach to how the business presents itself.
How much risk sits behind any of these depends on whether you are trying to expand the business or hold current revenue and profit. Most companies are pursuing more than one outcome, which means more than one strategy. Our in-house Registered Management Consultants work that out with you before anything is designed.
How an objective becomes work on the ground
FIG. 02Two strategies, traced from the financial objective down to the skills that have to exist for it to hold. This is the frame we use to keep a build tied to the outcome it was commissioned for.
Productivity strategy
Better operating efficiency, through lower manpower demand and more effective work on the ground.
Financial
Revenue growth
Broaden revenue mix
Productivity strategy
Improve operating efficiency
Customer
Revenue growth
Increase customer confidence
Productivity strategy
Increase customer satisfaction
Internal
Revenue growth
Understand customer segment
Develop new product
Cross-sell products
Productivity strategy
Reduce manpower
Minimise problems
Effective inspection
Learning and growth
Develop strategic skills
Access to information
SkillsFuture for staff