DEVELOPING A BUSINESS STRATEGY – ADOPTING THE “FULL POTENTIAL” MINDSET OF BAIN & CO.
- How is the Full Potential Mindset so transformative in Scaling or Transforming a Business?
Achieving full potential in a business is a key characteristic of strong leadership. Most Global CEOs endeavour to record that their company couldn’t be of more value if it were managed by any other team or in any other way. They bring this mindset to work every day to make their company navigate towards the best result and impact that it can create.
Full potential is an elusive, ever-increasing goal. It’s a B.H.A.G – a Big Hairy Audacious Goal. As a company gets closer to realizing its full potential, it attracts more capital and top talent, which in turn expands its potential even further and gives its leadership more to prove. Full potential is, therefore, not a target. It is rather an aspiration, a guiding light for the company – whether it is loss-making or profit-making.
Though full potential may be hard to attain, the pursuit of it is worthwhile and inspiring. It sets a high bar for everyone in the organization, from upper management to the front line. The pursuit encourages everyone to do their best – from bringing high-quality products and services to market, to managing operations as efficiently and effectively as possible, to providing the best customer experience possible every day.
BAIN research shows that the top 25% of the largest 2,100 public companies by market cap have operating margins that are 15-20 percentage points higher than their peers, grow almost twice as fast, and generate annual shareholder returns that are roughly 20-25% higher than sector averages. These companies are frequently recognized as “most admired” and “best workplaces,” setting the standard for all other organizations.
- What is the difference between Classical Strategy and an Actionable Strategy ?
With all the knowledge that businesses have and all that can be searched with the likes of Google, most still find it challenging to establish the difference between their Vision and Mission. Though Strategy comes only much later (sadly), we keep referring to strategy without really having one.
Businesses are under constant and significant pressure to deal with their current state – what we call ‘Business as Usual’ or BAU. The lack of bandwidth usually proves to be exponentially expensive as more time is lost on just dealing with BAU. The least that a business can do is to run a scan, define the current state and take a hard look at where they wish to be.
The nature of Strategy that needs to be adopted for different businesses is very different from one another. On one side it depends largely of the Vision and Mission of the Company and on the other it also depends on the state of the business. Neither can be ignored.
ProConScaleX helps businesses develop ACTIONABLE STRATEGIES and create a defined implementation programme using powerful tools like the Business Model Canvas, Balanced Scorecard & OKRs. We work with Founders, Investors, CEOs, CXOs and their Teams to develop & implement Strategy for Startup, Scaleup & Turnaround scenarios. ProCon is not an advisory firm. We are interventional business process specialists – hand-on implementors.
Our Differentiator
- We Are Not Just Advisors
- We are Co-workers in your Works
We co-work to Build
Capacity alongside :
1. Capital
2. Entrepreneurial Vision
ProConScaleX purposefully exhorts Companies through our ‘Co-Work’ process to:
- Discover their best Strategies
- Define their Consumer Connect
- Optimize their Cost Structure
- Increase the Operating Leverage
- Design the right Org Structure
- Develop robust Team Capabilities
- Build efficiencies in the Supply-chain
- Deploy the right RTM model
