During periods of change, uncertainty, and transition, there is a need for actionable facts in order to make strategic decisions.
Senior decision-makers in most corporations are unable to articulate the precise path the business must take to move from the point where the business is today to the point where the business needs to be in three years. Connecting the dots between the current positioning of the Company and its desired future positioning rarely results in a straight line. Most companies need to pick up a new skill, develop a new product or service, enter a new market, or change/develop/grow in some way that represents a branching out from the standard way of doing things inside the company. There are likely to be unseen hurdles or obstacles in the way. Facts, data, research is needed to ensure that the company is able to identify and steer clear of these obstacles and hurdles. At the same time, the Company must zero in on what capabilities it will need in order to be a legitimate player when it arrives at its final destination. The Company would not want to arrive at its desired destination (a new geographic market, for example), unprepared to compete against existing competitors, or unable to meet customer needs.
No company can effectively embark on a plan that involves the pursuit of numerous growth initiatives simultaneously. Companies may be considering new acquisitions and joint ventures at the same time they are contemplating new market entry via new channels, product lines, or geographies. These organizations are facing a period of uncertainty, change, or transition because of the newfound opportunities they are facing. There is a need for fact-based insights to help resolve their uncertainties.
Sometimes the inflection point involves an external threat or challenge which is thrust upon the Company. Examples include a rapidly changing marketplace (or one that looks like it is ceasing to exist), a new competitive threat, changing customer needs that make customers less interested in your company’s products, or supplier forward integration that looks like it could create a new class of competitors. What is the cause of the threat? Is there a way to resolve the threat? What are competitors’ plans, given the threat? Are there opportunities surfacing as a result of the threat?
Primary research, direct conversations with industry participants, can answer these questions. The research should be conducted by an objective, third-party firm, experienced in gathering insights on privately held competitors and obscure, niche markets.
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