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Understanding why strategic speed is a key to success

Given today's extremely dynamic and competitive environment, it is vital to consider how strategic initiatives are implemented and equally how they are formulated and affirmed in order to realise sustainable growth. Be it for launching a new service or product, managing a company through change, asset acquisition or expanding into an adjacent market.

Response strategies that align with a deep understanding of organisational capabilities and market opportunities or emerging threats can present valuable and lucrative business returns.

There seems to be a strong and positive correlation between speed and business results.

Faster companies experience an average of 40 percent higher sales growth and 52 percent higher operating profit growth than slower companies.

Decreasing time to value

Achieving a reduced time to value can make a significant difference to those looking to optimise resource usage and expenditure linked to due diligence processes or operational activities. This can be realised by first auditing and analysing your internal procedures, workflows and controls; however focus should also be placed on the experiences and perspectives of the people involved - both those in your organisation and the clients who use your service.

A Temkin Experience Ratings (TxR) report, evaluating 318 companies across 20 industries, revealed companies that earn $1 billion a year will see an average gain of $700 million within three years of investing in customer experience.

In essence, there is a movement among companies worldwide towards becoming more customer-focused and recognising the value of employee engagement.

    Key Considerations:

  • - Strategic speed is not just about process optimisation and robust systems, people issues and a high-level judgement are just as crucial.
  • - Employing a factual approach to decision-making, leadership and people involvement are some of the most important principles of TQM programs.
  • - A robust strategy affirmation process can facilitate speed - if the strategy being considered is well understood among leaders and team members executing it, the strategy execution is less likely to falter.
To form a solution, it is worth thinking about what value and the time it takes to reach that value means to you and your business. It is worth thinking about how the people in the organisation are being mobilised. This is very pertinent for many projects, such as for example post-merger integrations where the objectives of quickly combining capabilities and accelerating synergies are considered by many to be greater value drivers than the initial stages of target searching or acquisition planning.

Some questions to ask:

  • - What is being done to accelerate the planning and execution of strategic initiatives in your organisation?
  • - Are you focusing on the right priorities?
  • - How are the people in your organisation being empowered?

 

Keeping Pace With Change

As the world's leading platform for research in the Energy, Natural Resources, Chemicals and Infrastructure sectors, Pangea SI facilitates rapid access to expert insights for businesses aiming to realise their potential and react to market growth opportunities.

Information is often critically time-sensitive, and when you need knowledge fast a time lag can make or break the actionability of the information, or even render it useless. In an industry that moves fast, the speed of absorbing information is imperative.

We are in a time of significant change, in terms of emphasis on decarbonisation and the energy transition. Businesses worldwide are looking to expand, diversify and transform their portfolios.

Gaining Strategic Speed

Our clients stated that they were able to identify new opportunities more quickly through our platform. It was evident that Pangea SI Expert engagements led them to developing a more robust strategic architecture. Our client experience survey revealed that 100% of respondents believed our platform had enabled them to “increase the speed of their early-stage research into new areas”, with 78% declaring that it had “significantly increased” the number of opportunities they were able to investigate in the last 6-12 months.
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When we first engaged Pangea SI, we were not sure about their model. Engaging directly with market-embedded specialists had appeal, but it was not something we were used to for research.

We contacted Pangea SI and one of their direct competitors. Pangea’s Industry specialism helped them to come back with relevant profiles (one of which was particularly suitable) within 48 hours. Pangea also offered us commercial flexibility that was a much better fit for us than the other provider we considered.

We would never have tried this method had it not been for the quality of Pangea SI’s service and their willingness to come to a financial arrangement that met our needs. Still, even after we decided to go ahead, we felt the service was expensive on an hourly basis, and we were uncertain about what the return on investment would be.

Fortunately, we were surprised in a positive way by how much information we could gather from a couple of hours of consulting time with a genuine expert on the topic. By engaging with a market specialist who knows a lot about the subject we needed, rather than making use of more general 'consultants' that know a little about a lot, we were able to cover a very significant number of questions in the time we had with them, and in a much more granular way than we could have through other research methods.

We were positively surprised by this way of doing research and will definitely consider this again in the future, if we need information about a specific topic.”

- Business and Sales Analyst, Oiltanking

 

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