Strategy Execution Life Cycle – Complete life cycle from definition through approval to execution.
Background context – As part of a growth adjacency strategy, the opportunity to leverage strategic competitive advantage in upstream manufacturing capability to enter a new adjacent market was identified. The company had no existing market presence in the targeted liquid fertiliser segment.
Strategic Challenge – To define and execute a market entry strategy into the liquid fertiliser market as a foundation to further growth within the segment.
Strategic Activities – Engage an outsource market research company to help characterise the market segment including the market size, the forecast demand environment, the competitive landscape and key participants in the market. Identify and characterise the priority market entry strategy that leverages the greatest competitive advantage of the new market entrant. Engage external industry experts to help verify key assumptions built into the investment case. Identify, secure approval and procure critical human and capital investment to facilitate the market entry. Execute the market entry and continue to test and refine key assumptions underpinning the market entry. Explore and plan horizon 2 growth opportunities to further expand market presence.
Outcomes – Investment in new capital assets and specialist team was secured resulting in new entrant market share of greater than 30% by the end of year 1. Investment in new capital assets achieve a step change in capability and productivity in the liquid fertiliser supply and distribution market.