Strategy Execution Life Cycle – Complete life cycle from definition through approval to execution.
Background context – China represents more than 30% of the global market for the products and services of the company’s target market. The company had achieved global leading market share (30% +) with the exception of China. The company’s investments over more than 20 years in China had failed to deliver against expectations. The Chinese market for the products and services is going through market reform leading to forecast improved market structure and therefore market attractiveness. The company was seeking to relaunch its China strategy.
Strategic Challenge – To establish a China market strategy that resolved a range of legacy issues with existing assets and relationships while creating a pathway to achieve a leading (30%+) share of the Chinese market for the target products and services.
Strategic Activities – Undertake a review of past China strategies to understand key assumptions, actions, and outcomes to generate an aligned assessment of the current state and the lessons learnt. Facilitate workshops with stakeholders to align around vision and targets for the China strategy. Undertake desktop and on the ground market scan to identify and prioritise potential strategic partners. Choose strategic partner and undertaken commercial, legal, and compliance diligence. Achieve Board endorsement and approval for entering into venturing relationships. Establish and populate management teams in the new venture. Launch the venture.
Outcomes – Joint venture secured and launched with the market leading participant in the Chinese market. Secured management control despite having a minority shareholding.