Overview Case Studies - Texas A&M University

OverviewCASE STUDIES

Case Studies

This document is authorized for use only by KELLEE OREILLY ([email protected]). Copying or posting is an infringement of copyright. Please contact [email protected] or 800-988-0886 for additional copies.

CASE STUDIES

Table of Contents

1 Introduction to the Case Studies

2 Case Study #1

3 About JJS Cleaning Company

4 Current Strategy

5 Frame Strategic Choice and Generate Possibilities

6 Strategic Possibilities

10 Reverse Engineering

15 Identify Barriers

17 Design Tests of Barriers

19 Conduct Tests and Analyze Results

20 Next Steps

21 Case Study #2

22 About Algeo Pharmaceuticals

23 Current Strategy







39 Next Steps

40 Case Study #3

41 About All Natural Inc.

42 Current Strategy







58 Next Steps

59 Case Study #4

60 About Main & State Bank Corporate Strategy Group

61 Current Strategy







77 Next Steps

Copyright 2014 A.G. Lafley, Roger L. Martin, and Jennifer Riel.This document is authorized for use only by KELLEE OREILLY ([email protected]). Copying or posting is an infringement of copyright. Please contact [email protected] or 800-988-0886 for additional copies.

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CASE STUDIESIntroduction

Introduction to the Case Studies

There are four case studies of organizations that have gone through the Playing to Win process:

• A small, local cleaning company

• A large, global biopharmaceutical company

• A small, organic spa

• A regional bank’s internal corporate strategy group

Each case study includes the following steps in the Playing to Win process:

• Describe current strategy

• Define strategic problem

• Frame strategic choice

• Generate possibilities

• Draft a cascade for each possibility

• Specify conditions that must be true for each possibility to be a great choice

• Identify barriers to choosing each possibility

• Design tests of those barriers

• Conduct tests and analyze results

Read through all four case studies or focus on the one most similar to your organization.


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JJS Cleaning Company

CASE STUDIES


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CASE STUDIESJJS Cleaning Company

JJS is a family-owned cleaning company that has served the Chicago area for 30 years. Second-generation owner Josie Schneider has seen the company grow into the leading office-cleaning company in the region on the basis of great service.

She builds deep relationships with clients, hires friendly and reliable staff, and ensures that every client has the service structure that suits his or her individual needs. She has a stable of loyal clients willing to pay a premium over the lowest-price competitors.

The strategy has been working well, but Josie worries that growth is slowing. She wonders how to retain what is great about JJS while finding a new way to grow.

About JJS Cleaning Company


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Current Strategy

The JJS Cleaning Company team started its Playing to Win process by describing its current strategy using the five-box cascade.

• To be the leading office-cleaning company in Chicago• To have the highest client loyalty and level of repeat business in our industry

• Retention and recruiting (building adaptable, service-oriented teams) • Sales and customer service • Quality control and accountability

• Logistics and fleet management • Compensation and rewards systems• Customer relationship management (CRM)

• Customers: Small and medium enterprises • Channel: Direct• Product: Service contracts for regular office cleaning (daily, weekly) plus à la carte specialty

deep-cleaning offers• Geography: Regional, Chicago area

Differentiation through service excellence • Deep Relationships: Knowing the decision maker better than our competitors can • Customization: Tailoring our offerings to client needs • Familiarity: Friendly and knowledgeable staff each and every time

What is our winning aspiration?

Where will we play?

What management systems do we need?

How will we win in chosen markets?

What capabilities must we have?


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Having defined its strategic problem as slowing growth, the JJS team then framed its strategic choice as expanding geographically or offering new services. From these two, the team then generated specific possibilities and clustered them by themes:

Frame Strategic Choice and Generate Possibilities

Slowing growth

Stra

tegi

c Pr

oble

m

Expand geographically

Offer new services

Choi

ce

Poss

ibili

ties

Expand geographically

•Grow into another major city base

•Grow into another region using franchise model

Diversify customer base

•Extend into cleaning high-end homes

•Extend into residential cleaning: condominiums and apartments

•Offer office repair and maintenance services

•Offer office supplies

•Offer moving services

Offer more services


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The JJS team then culled the possibilities down to the three it felt were most promising:

Strategic Possibilities

Strategic Possibility #1

Geographic GrowthGrow beyond Chicago into all major cities in the Midwest, using a franchise model.


Extend to ResidentialExpand into residential cleaning by adding property management firms to customer base, using a B2B model.


Office Service Company Add more services to offerings (e.g., moving and basic maintenance and repairs) and products (e.g., basic office supplies such as water, coffee, and paper towels).


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The team then delved more deeply into its three strategic possibilities by drafting a five-box cascade for each, starting with expanding geographically using a franchising model across the Midwest.


Where will we play?


• To be the leading office-cleaning company in the Midwest• To have the highest client loyalty and level of repeat business in our industry

• Marketing and communications • Franchise development and oversight (training, recruiting, contracting) • Quality control and accountability • Sales and business development

• Logistics and fleet management • Net promoter score (NPS)• Training programs • Customer relationship management (CRM)

• Customers: Small and medium enterprises• Channel: Franchise model (outside Chicagoland) with direct-to-customer in Chicago• Product: Service contracts for regular office cleaning (daily, weekly) plus à la carte specialty

deep-cleaning offers• Geography: Major cities in the Midwest

Branded Differentiation • Clear brand positioning as the office-cleaning experts Excellent customer service • Standardized set of service offerings • Deep relationships with office managers • Friendly and familiar staff each and every time



Strategic Possibility #1: Geographic Growth


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The team also delved into their second strategic possibility of diversifying their customer base by expanding into cleaning for residential buildings.


Where will we play?


• To be the leading cleaning company in Chicago for residential and office buildings • To have the highest customer satisfaction, client loyalty, and level of repeat business in our industry

• Sales and business development • Sophisticated account management • Quality control and accountability • Cost management and supply chain expertise

• Logistics and fleet management • Large-client CRM, account management • 24/7 support system • Procurement systems

• Customers: Small and medium enterprises, property management firms • Channel: B2B and direct • Product: Service contracts for regular office and residential cleaning (daily, weekly) plus à la carte specialty

deep-cleaning offers• Geography: Chicago area

Scale and efficiency • Become supplier of choice to property managers with a suite of residential and

office buildings • Efficient servicing of large buildings (scale, speed, cost savings) • Partnering with property managers, with enough scale to deliver across their portfolios

(broadest offering vs. competitors)



Strategic Possibility #2: Extend to Residential


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Finally, the team delved into the third strategic possibility of offering more services to small- and medium-sized businesses, including maintenance and office-product delivery.


Where will we play?


• To be the one-stop shop for office customers’ service needs• To have the highest customer satisfaction, client loyalty, and level of repeat business in our industry

• Project and process management • Comprehensive maintenance routines • Efficient, timely service • Partnering with specialized suppliers • Sales and business development

• Logistics and fleet management • 24/7 support system • Procurement and partner management • Training and development, evaluation

• Customers: Small and medium enterprises • Channel: Direct • Product: Service contracts for regular office cleaning, basic maintenance, small repairs, and regularly ordered

office products (paper towels, large-format water, coffee)• Geography: Chicago area

• Simplicity and ease for customers (seamless, comprehensive support for all office maintenance) • “We worry about it for you”—simplified caretaking of the customers’ office space • Customized routines and regimens to suit each client • Trusted brand with specific staff expertise



Strategic Possibility #3: Office Service Company


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The team then analyzed what conditions would have to be true for each strategy to work.

This process is called reverse engineering. It isn’t about evidence—yet. That comes in the testing phase. It isn’t about what is true either, but rather about what would have to be true for the team to be confident in choosing this particular possibility as the new strategy.

The JJS team looked at conditions in seven categories relating to the industry, customer value, relative position, and competitors:

Industry• Segments• Structure

Customer Value• Channels• End customers

Relative Position• Capabilities• Costs

Competitors• Reaction

Once they listed all the conditions, they reviewed them and for each one asked: If this weren’t true, and everything else were true, would we still move ahead with this strategy? If they answered “yes,” they considered the condition “nice to have” rather than essential and crossed it out.

On the following pages are the conditions they identified in each category for each of the strategic possibilities and for their current strategy.

Reverse Engineering


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Reverse Engineering the Geographic Growth Possibility

Relative PositionCustomer ValueIndustry Competitors

Segments•There is a large and stable or growing

number of urban small and medium enterprises (SMEs) in the Midwest who:

•Care about high-quality cleaning

•Choose cleaning services based on brand and reputation (and not just low price)

•There is a large potential number of franchisees in neighboring urban areas who would be attracted to this opportunity

•Demographics indicate that franchisees would be able to recruit and train employees in their local markets

Structure•Expansion markets are populated by small

local players, who will not impede our brand development

•Regulations that cause barriers to entry (e.g., unionization) are not excessive in target areas

•Few substitutes (e.g., landlords who provide cleaning services under lease agreements) are available

Franchisees•Value having a brand with a reputation

across the Midwest

•Value being a part of franchised network of companies, over time

•Value the ability to offer a standardized product

•Value developing deep relationships with office managers within their defined geographic boundaries

SME Customers•Value cleaning services from a branded,

bonded company

•Value a standardized set of service offerings for office cleaning

•Value friendly and familiar staff for their cleaning services

•Value giving feedback by participating in NPS measurement

Capabilities•We can build a recognizable brand among

office managers in the Midwest

•We can recruit, train, and manage franchisees to our standards

•We can maintain quality of service and brand reputation with franchisees through legal and financial mechanisms

•We can build standardized best practices for cleaning that are applicable to the majority of SME offices

•We can leverage NPS as a feedback tool for franchisees and direct customers

•We can maintain our reputation and roster of clients during and after the franchise development period

Costs•We can operate the franchising model at a

level that is affordable to the franchisee

•Franchising revenues will exceed the cost of building the franchise system

Reaction•Independent cleaning companies will not

replicate this approach to expansion in the same ways and geographic areas

•Competitors in our current market will not reduce service fees below current levels

•Competitors in franchisee markets will not reduce service fees to an unreasonable level

•Franchisers (across industries)

•Will not offer financial arrangements for franchises that greatly exceed our value proposition to franchisees

*Nice to have

It would have to be true that...


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Reverse Engineering the Extend to Residential Possibility



number of property management companies that manage multiple office and residential buildings in Chicago

•These companies require regular cleaning services and are:

•Willing to choose a large, single supplier

•Willing to engage in contracts across a number of properties

•Driven by factors other than price

Structure•Existing residential building service providers

are small and fragmented

•Building superintendents in residential properties do not serve as adequate substitutes for cleaning services

•Property management companies will not coordinate to exert excessive buyer power

•Reputational excellence and strong customer relationships create barriers to new entrants

Property Managers•Value partnering with one cleaning service

company across multiple office and residential properties

•Value consistency and certainty in cleaning services

•Value coordination of services through a centralized support system

Office Workers and Residents•Value regular and standardized cleaning

services

•Value cleaning services from a recognizable and reputable company

Capabilities•We can build standardized cleaning best

practices that can be used for residential and office buildings

•We can develop relationships with property managers to build brand reputation

•We can build and maintain systems for 24/7 support to maintain cleaning standards across clients

•We can hire, train, and retain service-oriented staff who can work in both residential and office environments

•Across multiple sites, we can:

•Manage the logistics for mobilizing people and resources

•Assess and reward quality of cleaning and service

Costs•Cost advantage can be created through

scale in materials and supplies

•Travel costs and time between sites are manageable (e.g., gas costs below $3.70/gallon)

•Additional equipment requirements do not undermine our cost structure

Reaction•Independent office-cleaning companies:

•Will not replicate this approach to service in the same way in the Chicago area

•Will not expand into residential cleaning services

•Will not hire whole intact teams from us

*Nice to have



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Reverse Engineering the Office Service Company Possibility


Segments •There is a large and stable or growing

number of SMEs in the Chicago area who require a comprehensive solution for their cleaning services, office maintenance and repair, and office product supply needs

•These SMEs are:

•Willing to pay for holistic office service and product management

•Willing to switch from their current office maintenance and office product suppliers

Structure•Relationships with office managers serve

as a barrier to new entrants in cleaning or repair services

•Building managers (or landlords) are not adequate substitutes for cleaning, maintenance, and repairs

•The structure of the combined cleaning, maintenance, and repair industry is structurally more attractive than any one of the industries alone

Office Managers•Value the simplicity and convenience of a

single point of contact for all office-cleaning services, maintenance, repair, and supplies

•Value partnering with a cleaning services company for their office maintenance and supply needs

•Value routines and regimens for cleaning and maintenance of the office

Office Workers•Value an uninterrupted work experience

Capabilities•We can define basic and complex

maintenance and repairs, and build contracts accordingly

•We can build attractive comprehensive service packages

•We can build partnerships with specialized suppliers for office products and repairs

•We can recruit, train, and retain staff who can both clean and perform basic maintenance and repairs

•We can build a system for dispatching staff to manage a diverse set of resources

•We can build deep relationships with office managers to increase sales in all three areas of service and sales

Costs•We can source supplies and office products

at competitive costs and deliver at comparable prices

•We can create cost advantage through scale in materials and supplies

•We can manage inventory costs to avoid decreasing our return on investment


replicate this approach in the same way in the Chicago area

•Players in office product sales or office repair and maintenance will not attempt to broaden into office-cleaning services



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Reverse Engineering the Current Strategy



number of small and medium enterprises (SMEs) who require cleaning services in Chicago

•There is a segment of SMEs who want to be served by a branded service provider and are not swayed solely by the lowest price

Structure•Strong reputation confers advantages to

large incumbents, creating some barriers to entry

•Few substitutes (e.g., landlords who provide cleaning services under lease agreements) are available to SMEs

Decision Makers•Value the contribution of a regular cleaning

services to the operation of their office

•Value deep relationships with sales and service staff

•Value specialized cleaning services

•Value responsive customer service and issue management for cleaning services (and will pay for these additional services)

Office Workers•Value familiarity with a regular cleaning staff

•Value and reinforce the choice of a cleaning service made by a decision maker

Capabilities•We can recruit and train flexible customer

service-oriented staff

•We can maintain a low staff turnover rate

•We can manage client-by-client customizations as requested

•We can assess and improve the quality of cleaning

Costs•Labor costs will continue to be less than

50% of operating costs

•Travel costs and time between client sites remain manageable

•Fuel prices remain below $3.70 per gallon

Reaction•Independent cleaning companies:

•Will not replicate this approach to service in the same way in the same geographic region

•Will not hire whole intact teams from us



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Barriers for Strategic Possibility #1: Geographic GrowthAfter the JJS team had captured all the conditions that would have to be true for the geographic growth strategy to work, they then asked themselves: Which of these conditions do we most worry aren’t true? In other words, what are the greatest barriers to this strategy being successful?

The team voted on which they thought were most worrisome and identified four that topped the list (see the following page for the barriers to expanding geographically).

The team then repeated this process for each of the possibilities and the current strategy. For illustrative purposes, we’ll show you this process for just one of the possibilities.

Identify Barriers


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Identify Barriers to Geographic Growth

Capabilities•We can build a recognizable brand among

office managers in the Midwest

•We can recruit, train, and manage franchisees to our standards

•We can maintain quality of service and brand reputation with franchisees through legal and financial mechanisms

•We can build standardized best practices for cleaning that are applicable to the majority of SME offices

•We can leverage NPS as a feedback tool for franchisees and direct customers

•We can maintain our reputation and roster of clients during and after the franchise development period

Costs•We can operate the franchising model at a

level that is affordable to the franchisee

•Franchising revenues will exceed the cost of building the franchise system



number of urban SMEs in the Midwest who:

•Care about high-quality cleaning

•Choose cleaning services based on brand and reputation (and not just low price)

•There is a large number of franchisees in neighboring urban areas who would be attracted to this opportunity

•Demographics indicate that franchisees would be able to recruit and train employees in their local markets

Industry Structure•Expansion markets are populated by small

local players, who will not impede our brand development

•Regulations that cause barriers to entry (e.g., unionization) are not excessive in target areas

•Few substitutes (e.g., landlords who provide cleaning services under lease agreements) are available

Franchisees•Value having a brand with a reputation

across the Midwest

•Value being a part of franchised network of companies, over time

•Value the ability to offer a standardized product

•Value developing deep relationships with office managers within their defined geographic boundaries

Direct SME Customers•Value cleaning services from a branded,

bonded company

•Value a standardized set of service offerings for office cleaning

•Value friendly and familiar staff for their cleaning services

•Value giving feedback by participating in NPS measurement


replicate this approach to expansion in the same ways and geographic areas

•Competitors in our current market will not reduce service fees below current levels

•Competitors in franchisee markets will not reduce service fees to an unreasonable level

•Franchisers (across industries)

•Will not offer financial arrangements for franchises that greatly exceed our value proposition to franchisees

2

1

4

3



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Strategic Possibility #1: Geographic GrowthAfter highlighting the four most worrisome barriers to their geographic growth strategy, the JJS team moved on to designing tests of those barriers, starting with the most worrisome—the one the team felt was least likely to hold up.

The tests would not provide absolute assurance that this strategy was perfect, but they would improve the odds of the team choosing a successful strategy.

They designed three types of tests: guerrilla-style, small-scale, and definitive.

• Guerrilla-style tests are the simplest and the lowest-cost, and take the shortest amount of time. They indicate if investment in more-expensive tests is needed. In some cases, they may produce enough confidence to move ahead without further testing.

• Small-scale tests often require new data, low to moderate investment, and more time. They can provide reasonable levels of confidence in a strategic choice, but may also indicate the need for more-definitive tests.

• Definitive tests often include pilot and large-scale in-market tests and require the highest level of investment—and provide the highest level of confidence.

Starting with their most worrisome condition—ability to maintain service quality and brand reputation with franchisees—the JJS team decided to use the guerrilla-style test because it would save them time and money. They knew that they could always move on to one of the more substantial tests if the guerrilla test produced positive results and the team still felt skeptical of the condition.

On the following page are the tests the JJS team designed for the most worrisome barrier to Strategic Possibility #1.

Design Tests of Barriers


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Barrier Tests for the Geographic Growth Possibility

Definitive TestSmall-Scale TestGuerrilla-Style Test

ObjectiveTo learn how other industries’ franchise businesses use legal and financial mechanisms to maintain service quality and brand reputation.

TestInterview owners of at least two analogous franchise businesses (e.g., Magicuts hair care and Qualicare in-home health care). Learn from these franchise owners where their franchise systems work well and where there may be challenges.

If/Then HypothesisIf other franchise businesses are able to use legal and financial mechanisms to maintain consistency in quality and brand, then we will be able to do the same in the cleaning industry.

Standard of ProofAll the franchise owners we interview report being able to overcome challenges in managing consistency in quality and brand using legal and financial mechanisms.

ObjectiveTo identify the ways in which we may apply legal and financial mechanisms to maintain quality and brand consistency.

TestGet an expert opinion from a lawyer and/or an accountant who specializes in supporting franchise businesses. The expert can provide information about:

•Effectiveness of using legal and financial mechanisms

•Best practices to ensure consistency in quality and brand

•Areas in which the mechanisms enable or limit success

If/Then HypothesisIf we know in advance how legal and financial mechanisms can help overcome specific challenges around maintaining consistency in quality and brand, then we will be able to use those mechanisms in our franchise model.

Standard of ProofThe expert’s insights point to specific parameters that we can use to construct a franchise opportunity that maintains consistency in quality and brand.

ObjectiveTo test our ability to use legal and financial mechanisms to maintain quality consistency and brand reputation by creating a prototype franchise model.

TestFor six months, reward the team as franchisees would be, and assess how well they maintain our quality of service and brand reputation. Utilize customer and employee surveys to determine variance with other locations. Review and assess team behavior and outcomes during this period.

If/Then HypothesisIf we are able to create a prototype franchise model with appropriate financial and legal mechanisms in one market, then we’ll be able to replicate in other markets.

Standard of ProofClient satisfaction will remain at least at current levels.

The prototype cleaning team will not require additional training and support.

The prototype team will acquire at least three new customers during the trial.

BARRIER #1

Relative Position: CapabilitiesWe can maintain quality of service and brand reputation with franchisees through legal and financial mechanisms.

ConcernConsistency of quality and brand are difficult to manage, so we will need assurance we can create effective mechanisms on this front. An underlying assumption is that legal and financial mechanisms are the best tools available for franchise-based organizations to maintain consistency in quality and brand.


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Once the JJS team had identified the most worrisome conditions for each of its three strategic possibilities and designed tests of the barriers to those conditions, it was time to conduct the tests. Testing would either increase their confidence in each possibility being a great strategy—or provide evidence that the most worrisome conditions would not hold true.

The team felt that expanding geographically was the most attractive possibility—if it panned out—so it began by testing its barrier #1: “We can maintain quality of service and brand reputation with franchisees through legal and financial mechanisms.”

Since the definitive test—an in-market prototype—would be time-consuming and expensive, the group decided to start with a guerrilla-style test, studying two franchise businesses in analogous industries—hair care and in-home health care. The franchise owners the team interviewed were each able to overcome challenges in managing consistency in quality and brand using legal and financial mechanisms, and the JJS team noted enough similarities with the cleaning industry that it decided to move on to the definitive test.

JJS set up a pilot franchise with an existing, high-performing cleaning crew to further test their ability to maintain quality of service and brand reputation. They set success parameters around client satisfaction, training levels, and new-customer acquisition.

After six months, the results were negative. Coordination costs and brand risk were considerably higher than anticipated. Rather than acquiring new clients, JJS lost two of the cleaning team’s clients and had to establish regular, paid coordination and mentoring sessions with the team lead.

The definitive test indicated that the most worrisome condition had failed the test (i.e., it did not hold true that JJS could “maintain quality of service and brand reputation with franchises through legal and financial mechanisms”).

The team dropped the geographic expansion possibility and began testing in parallel the top barrier conditions for the other two possibilities.

Conduct Tests and Analyze Results


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Once the JJS team concludes its tests, they’ll be ready to review results and choose the strategic possibility that seems most likely to succeed.

Which strategy will work for them? Can they win by extending their customer base to serve residential clients? Or should they expand their offerings to include new services and products?

Next Steps


21

CASE STUDIES

Algeo Pharmaceuticals


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CASE STUDIESAlgeo Pharmaceuticals

About Algeo Pharmaceuticals

Algeo Pharmaceuticals is a global biopharmaceutical company that develops drugs to extend and improve patients’ lives. Algeo is at a crossroads: The specialty formulation for its blockbuster drug is going off patent in five years; the company needs a strategy that will help it stay relevant to clinicians and patients.

For decades, under CEO Steve Wallenstein, the company has chosen to play in three key therapeutic areas: oncology, diabetes, and heart disease. This focus galvanized the company, directing its innovation and sales efforts. Yet the company hasn’t grown its revenues or developed its next blockbuster drug. Furthermore, its current pipeline is weak.

Steve is concerned that investing across three therapeutic areas is not enough to form a winning strategy. He wants to figure out how the company can innovate more effectively to strengthen its pipeline, develop its next blockbuster drug, and grow its flat revenue.


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Current Strategy

The Algeo team started its Playing to Win process by describing its current strategy using the five-box cascade.

• To extend patients’ lives and increase their quality of life• To be a global biopharma company delivering safe, effective medicines • To be the top player in our chosen therapeutic areas

• Innovation, R&D• Drug development and testing• Building clinician relationships• Influencing clinicians and credentialing them to become ambassadors• Stakeholder management

• R&D stage-gate process• FDA approvals• Customer relationship management (CRM)• Sales management

• Customers: Patients• Channel: Prescribers • Product: Prescription medicines in three therapeutic areas: oncology, diabetes, and heart disease• Geography: Developed world

• Research leadership: Science-driven primary research that produces innovative and effective drugs in our three therapeutic areas

• Development excellence: Develop drugs through the pipeline and sell through to doctors• Work with highly influential clinicians to build long-term relationships and create ambassadors


Where will we play?





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Having defined its strategic problem as failure to innovate effectively and a weak pipeline, the Algeo team then framed its strategic choice as broadening or narrowing its focus. Based on these two choices, the team generated several possibilities and clustered them by themes.

Failure to innovate effectively and a weak pipeline

Stra

tegi

c Pr

oble

m

Broaden focus

Narrow focus

Choi

ce

Poss

ibili

ties

Narrow therapeutic focus

Broaden

Maintain current breadth

•Expand beyond three therapeutic areas to a broad array of acute and chronic conditions

•Create comprehensive treatment regimens rather than drugs

•Expand to medical devices

•Become a fast follower, moving into generics

•Expand to over-the-counter

•Win on the basis of the best science

•Win on the basis of brand building and relationships

•Refocus on the patient as customer

•Focus on chronic diseases

•Focus on most pervasive diseases

•Focus on early-stage, highly technical research

•Focus on the development and commercialization stage

Narrow by stage (early)

Narrow by stage (late)


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The Algeo team then culled the possibilities down to the three it felt were most promising:



Diabetes ExpertsBecome a diabetes-only company, focusing on diabetes research, medicines, and cure.


“The Petri Dish”Become early-stage research experts focused on developing molecules and formulations.


Commercialization Engine Focus on turning the best scientific advances into effective new drugs and become the go-to commercialization company for early-stage science players.


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The team then delved more deeply into its three strategic possibilities by drafting a five-box cascade for each, starting with narrowing its therapeutic focus to diabetes.


Where will we play?


• To extend diabetic patients’ lives and increase their quality of life• To be the global expert in diabetes treatment and advanced research• To contribute to finding a cure for diabetes

• Innovation, R&D• Patient advocacy• Influencing and credentialing clinicians• Marketing communications• Community building

• R&D stage-gate process• FDA approvals• Customer relationship management (CRM)• Sales management

• Customers: Patients with diabetes• Channel: Endocrinologists, primary care physicians, diabetes educators, pharmacists• Product: Prescription regimens, diabetes devices• Geography: Developed world, China

Develop reputation as the diabetes company through:• Scientific leadership in diabetes• Deep, holistic understanding of diabetes, patients, and clinicians• Commercial excellence: Develop diabetes drugs through the pipeline and sell through to

clinicians and patients• Trust: Create ecosystem of trust and support with other diabetes experts



Strategic Possibility #1: Diabetes Experts


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The team also delved into their second strategic possibility of focusing on early-stage drug development and becoming a “petri dish.”


Where will we play?


• To develop molecules with the potential to fundamentally alter treatment regimens• To advance the goal of curing disease by leveraging the very best science

• Rapid prototyping-based innovation• Early-stage trials (prehuman testing)• Partnering with and knowledge transfer to drug-development companies• Building relationships with academic research centers and large drug

companies

• Early-stage test analysis and synthesis• Intellectual property management• Recruitment, retention, and incentives for scientists

• Customers: Drug-development companies• Product: Highly scientific research into molecules and formulations for all diseases• Geography: North America and Europe

• Focused scientific leadership: R&D that produces promising formulations and potential innovations

• Smart risk-taking culture• Not distracted by need to commercialize



Strategic Possibility #2: “The Petri Dish”


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Finally, the team delved into the third strategic possibility of becoming a commercialization engine.


Where will we play?


• To turn the very best scientific advances into effective new drugs• To effectively treat disease, extend patients’ lives, and increase quality of life

• Sourcing ideas• Brand management• Deep customer understanding• Marketing communications• PR/media relations

• Late-stage testing and FDA approvals• PR and media hits tracking• Customer relationship management (CRM)

• Customers: Patients• Channels: Doctors, pharmacies• Product: Prescription medicines and select high-margin over-the-counter drugs across broad base

of therapeutic areas• Geography: Developed world

• Branded differentiation: Focus on drugs used long term and for which patients have choice• Broad pipeline: Buy compounds and drug ideas from small companies• Commercial excellence: Become the go-to commercialization company for small, early-stage

science players• Powerful storytelling across stakeholder groups, including mass advertising



Strategic Possibility #3: Commercialization Engine


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The Algeo team looked at conditions in seven categories relating to its industry, customer value, relative position, and competitors:





Once they listed all the conditions, they reviewed them and asked: If this weren’t true, and everything else were true, would we still move ahead with this strategy? If they answered “yes,” they considered the condition “nice to have” rather than essential and crossed it out.

On the following pages are the conditions they identified in each category for each of their strategic possibilities and their current strategy.

Reverse Engineering


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Reverse Engineering the Diabetes Expert Possibility


Segments•Diabetes remains widespread in the

developed world (e.g., 11.3% of Americans)

•Diabetes rates continue to increase in China over the next two decades (11.6%+ of Chinese)

•A substantial segment of clinicians are willing to be part of an ecosystem of trust and support that explicitly includes us

•Diabetes patients can pay for on-patent drugs (directly or with insurance)

Structure•Patent protection increases in China to

a level that protects our investment over next five years

•The Chinese government continues to allow foreign multinationals to establish markets in China

•Health-care reform in both China and America will lead to wider insurance coverage and greater ability to pay

Clinicians/Educators•Value the ability to get a full regimen of

products and services from one company

•Value a deep relationship with us

•Value focused thought leadership from us

Patients•Value having a voice in the choice of

diabetes regimen

•Value pharmaceutical branding, relationship building

•Value Western medicine over alternative therapies for diabetes (even in China)

Capabilities•Focusing on one therapeutic area will

enable better products, more advances

•We can create a commercialization advantage in drugs and devices (including partnering)

•We can build the dominant brand for diabetes in the minds of patients and clinicians

•We can create a meaningful ecosystem of support for clinicians

•We can manage and meet drug approval processes in China

•We can leverage cultural insights to create brand recognition in China

Costs•We can establish economies of scale within

a single therapeutic area

•Costs of engaging more deeply with patients are recouped through their higher willingness to pay and greater product loyalty

Reaction•Will not produce a “category killer”

blockbuster in diabetes

•Will not take an identical approach

•Will not start an all-out war in diabetes to protect their turf

•Will not use their advantage in scale/breadth to overwhelm us in diabetes

*Nice to have



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Reverse Engineering the “Petri Dish” Possibility


Segments•There are myriad advances, across

therapeutic areas, that would benefit from a focused scientific approach

•There is a segment of pharma companies open to buying innovation from the outside (at prices that would be economic for suppliers). They:

•Seek a broad pipeline more than they value strict “invented here” traditions

•Are seeking to fill holes in their development calendar with outside innovations

•Most or all segments of patients do not care who develops the molecules that lead to the drugs they take

Structure•Large pharmaceutical companies will

continue to struggle to innovate internally

•Large pharmaceutical companies will not overwhelm us with their buyer power

•Aggregation and scaling of research (even at our size) are not easily replicable by individual scientists

Clinicians•Value new and better drugs over existing

offerings, and are agnostic about the source of the molecule

Patients•Value new and better drugs, and accept

clinician prescriptions and advice

Capabilities•We can innovate more effectively if we focus

on just early stage

•Our cross-therapeutic area focus on molecules will yield a wider set of treatments and medicines

•We can create a culture of innovation that rewards smart risk taking

•We can partner and transfer knowledge effectively

•We can sell formulations while still protecting our IP

•We can attract the finest scientists

Costs•The cost of early-stage and speculative

research can be more than recouped by selling the formulations

•We can establish a model in which we are rewarded for out-of-the-park successes

Reaction•Won’t successfully poach our key

researchers

•No company will take this approach at the same size and scale

*Nice to have



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Reverse Engineering the Commercialization Engine Possibility


Segments •There are enough innovation-focused

companies to make this approach viable

•A segment of early-stage researchers are willing to focus on therapeutic areas that enable branded differentiation

•There are enough similarities between long-term prescription medication and high-margin OTC products

Structure•Rules for advertising to patients will not

tighten over the next decade

•Patent laws will allow the kinds of partnerships we want to undertake

•There are enough pharmaceutical developers in the industry that no individual supplier can exert excessive power over buyers

Clinicians•Value new and better drugs over existing

offerings

•Value a relationship with us

Patients•Value branded differentiation and are open

to influence in areas that require long-term, regular treatment

•Value new OTC brands and are not loyal to specific consumer-goods companies

Capabilities•We can produce more successful products

through this approach than through a standard structure

•We can establish a broad portfolio that is attractive to clinicians through an open innovation approach

•We can create differentiated brands effectively

•We can partner and transfer knowledge effectively

•We can become the preferred partner for innovation companies

•We can consistently acquire innovations at fair prices

•We can tell stories effectively

Costs•The cost of acquisition enables us to earn

a reasonable rate of return

Reaction•No companies will take this approach at the

same size and scale

•Consumer-goods companies won’t use their broad expertise and scale to outflank us in these categories

*Nice to have



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Segments •Oncology, diabetes, and heart disease are

large and stable or growing therapeutic areas

•These diseases are spread out across the developed world in ways that make a broad approach workable

•These segments can pay for on-patent drugs (direct or insurance)

Structure•Payers continue to pay premiums for

on-patent drugs

•Suppliers remain largely commoditized

•Legislation doesn’t lower barriers to entry

Prescribers•Value a relationship with us

•Are open to influence as to what to prescribe

•Value thought leadership from us

•Value playing the role of ambassador (or having access to ambassadors)

Patients•Value clinician recommendations (i.e.,

leave drug choice to clinician, even for chronic conditions)

•Value Western medicine over alternative therapies in these areas

Capabilities•With three therapeutic areas, we can

mitigate risk while also developing deep expertise

•We can create a commercialization advantage

•We can lead in science across three therapeutic areas

•We can build meaningful relationships with prescribers

•New drugs can meet our established hurdle rate

Costs•We can achieve economies of scale

working in three areas and along the full development process

•Building relationships with clinicians as ambassadors produces positive ROI

•Successful research projects more than cover the cost of unsuccessful ones

Reaction•Competitors will not produce a “category

killer” blockbuster in our three areas

•Competitors will not successfully copy this approach or use their similar scale to play in the same ways and areas

*Nice to have



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Barriers for Current StrategyReverse engineering the current strategy is just as critical as analyzing new possibilities. It helps to eliminate the dangerous assumption of “Worst case, we can just keep doing what we’re already doing.” The Algeo team focused on the current strategy first.

After the Algeo team had captured all the conditions that would have to be true for the current strategy to remain viable, they then asked themselves: Which of these conditions do we most worry aren’t true? In other words, what are the greatest barriers to us continuing with our current strategy?

The team voted on which they thought were most worrisome and identified three that topped the list (see the following page for the barriers to the current strategy).

The team then repeated this process for each of the possibilities. For illustrative purposes, we’ll show you this process for just the current strategy.

Identify Barriers


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Identify Barriers to Current Strategy

1


Segments •Oncology, diabetes, and heart disease are

large and stable or growing therapeutic areas

•These diseases are spread out across the developed world in ways that make a broad approach workable

•These segments can pay for on-patent drugs (direct or insurance)

Structure•Payers continue to pay premiums for on-

patent drugs

•Suppliers remain largely commoditized

•Legislation doesn’t lower barriers to entry

Prescribers•Value a relationship with us

•Are open to influence as to what to prescribe

•Value thought leadership from us

•Value playing the role of ambassador (or having access to ambassadors)

Patients•Value clinician recommendations (i.e.,

leave drug choice to clinician, even for chronic conditions)

•Value Western medicine over alternative therapies in these areas

Capabilities•With three therapeutic areas, we can

mitigate risk while also developing deep expertise

•We can create a commercialization advantage

•We can lead in science across three therapeutic areas

•We can build meaningful relationships with prescribers

•New drugs can meet our established hurdle rate

Costs•We can achieve economies of scale

working in three areas and along the full development process

•Building relationships with clinicians as ambassadors produces positive ROI

•Successful research projects more than cover the cost of unsuccessful ones

Reaction•Competitors will not produce a “category

killer” blockbuster in our three areas

•Will not successfully copy this approach or use their similar scale to play in the same ways and areas

3

2



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Current StrategyAfter highlighting the three most worrisome barriers to their current strategy, the Algeo team moved on to designing tests of those barriers, starting with the most worrisome—the one the team felt was least likely to hold up.

The tests would not provide absolute assurance that this strategy was perfect, but they would increase the odds of the team choosing a successful strategy.





On the following pages are the tests the Algeo team designed for the most worrisome barrier to continuing with its current strategy.



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Barrier Tests for Current Strategy


ObjectiveTo identify current incidence rates and morbidity levels in each of the three disease areas.

TestCompare morbidity levels and incidence rates in our three therapeutic areas with three comparable areas (i.e., respirology, neurology, and virology) using existing data from epidemiology experts including the World Health Organization, Centers for Disease Control, etc.

If/Then HypothesisIf the morbidity levels and incidence rates in our three therapeutic areas are larger than the comparable areas, there is a large- enough opportunity.

Standard of ProofMorbidity levels and incidence rates of cancer, diabetes, and heart disease are higher—and/or growing faster—than other therapeutic areas.

ObjectiveTo understand the future size and growth trajectory of the oncology, diabetes, and heart disease markets.

TestCreate a data model using the best publicly available data and purchased multi-client research. Then conduct sensitivity analysis of each market based on projections of changing demographics and potential changes in competitive landscape.

If/Then HypothesisIf changes in the demographics and competitive landscape indicate future growth, then the oncology, diabetes, and heart disease markets will remain large enough to warrant investment.

Standard of ProofNone of the future scenarios demonstrates the size of the oncology, diabetes, and heart disease markets shrinking significantly in the next 10 years.

ObjectiveTo gain world-leading understanding of morbidity patterns and incidence rates in the oncology, diabetes, and heart disease markets.

TestConduct joint studies with partners in key markets to specify current morbidity levels and develop baseline incidence rates for future studies to track rates of change.

If/Then HypothesisIf we can establish that baseline incidence rates and morbidity levels are sizable for the three therapeutic areas, then we can continue to monitor and track the rates, increasing our confidence in the size of the segments.

Standard of ProofThe baseline incidence rates and morbidity levels are higher than our current working estimates, and initial projections show an upward growth trend.

BARRIER #1

Industry: SegmentsOncology, diabetes, and heart disease are large and stable, or growing therapeutic areas.

ConcernIf we stay in these three areas, we want to be confident that they represent stable opportunities.


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At the end of their off-site meeting, the Algeo team was excited about the possibilities, but momentum soon slowed down. The team’s day-to-day work and other priorities prevented them from focusing on designing and conducting the tests. CEO Steve Wallenstein worried the team was complacent, given that the firm was performing fairly well under the current strategy. He took it upon himself to push ahead with testing the current strategy, thinking that if he could prove—or disprove—its viability, he’d be able to motivate the rest of the team.

He started with the most worrisome barrier—oncology, diabetes, and heart disease are large, stable, or growing therapeutic areas—and considering the time and resources he had available, chose a small-scale test. He relied on his analytics team to quickly gather and analyze the data, and their results passed the standard of proof: None of the future scenarios demonstrated that the size of the oncology, diabetes, and heart disease markets would shrink significantly in the next 10 years.

Within a week, Steve moved on to a more definitive test to further test the barrier, partnering with several local universities to conduct joint studies. Those studies showed that the three key therapeutic areas were large in North America and growing in Asia—again passing the test.

It was time to move on to the second most worrisome barrier: that competitors will not produce “category killer” drugs in any of the three therapeutic areas. Steve used game theory scenarios, looking at competitive pipelines and traditional development success rates for key competitors. The results suggested that, given the intense competition in these therapeutic areas and the resources and capabilities of Algeo’s competitors, there was a low probability that the company could continue to successfully compete in these three areas. This meant that the current strategy had at least one condition that seemed unlikely to hold true.

Emboldened by the proven threat to the status quo, Steve then pressed the team to design and conduct tests in parallel for the two possibilities that had the most support—diabetes expert and commercialization engine. The team forged ahead.



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Once the Algeo team concludes those tests, they’ll be ready to review results and choose the strategic possibility with the fewest serious barriers.

Which new strategy will work for them? Can they win by becoming a diabetes company? Or should they focus on late-stage drug development and become a commercialization engine?

Next Steps


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CASE STUDIES

All Natural Inc.


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CASE STUDIESAll Natural Inc.

About All Natural Inc.

Stefanie Fung, a young MBA-trained spa aficionado, opened her first spa in downtown Sydney, Australia, eight years ago. She targeted a niche market: clients who wanted to be pampered and look great, and also wanted organic products free of synthetics and irritants. All Natural Inc. has become one of the top spas in Sydney, and Stefanie prides herself on providing outstanding customer service, excellent formulations, and high-quality skin-care products that deliver visible results.

Now, however, Stefanie is wondering about the next stage for her business. The spa is popular and has a strong customer base. But given how fragmented the spa industry is, can it grow?


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Current Strategy

Stefanie and her team started their Playing to Win process by describing their current strategy using the five-box cascade.

• To be Sydney’s top destination for facials (and facials only—no other services)• To provide premium, all-natural facial products and services that improve the look and feel of clients’ skin• To make clients feel both wholesome and beautiful

• Product innovation and development• Customer experience design • Customer service• Aesthetician recruiting and retention

• Supply-chain management• Performance management and incentives for aestheticians • Customer retention and referral systems

• Customers: Professional women in their 30s and 40s, seeking natural holistic facial treatments• Channel: Retail shop and spa• Product: Array of rejuvenating and relaxing facial treatments and organic face-care products

made in-house• Geography: Downtown Sydney business and shopping district

• Excellent facial formulations that deliver healthy-looking skin• Exclusive brand of home-care products that reinforce an all-natural, premium experience• Outstanding customer experience with knowledgeable, warm, and attentive aestheticians


Where will we play?





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Having defined its strategic problem as an inability to grow in a fragmented market, the All Natural team then framed its strategic choice as expanding its offerings or adding a new channel. From these two choices, the team then generated specific possibilities and clustered them by themes:


Inability to grow in a fragmented market

Stra

tegi

c Pr

oble

m

Expand offerings

Add new channel

Choi

ce

Poss

ibili

ties

Expand all-natural offerings

•Offer yoga

•Offer supplements

•Add all-natural body treatments

Expand to new customers

•Extend to older customers interested in treatment rather than prevention

•Cater to men and kids as well

•Create a second location out of town

•Create an online presence, including e-commerce

•Bring in other skin-care lines

Online channel

•Go full medi-spa

•Add noninvasive intensive facial treatments (laser, acid peels)

Extend beyond all-natural


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The All Natural team then culled the possibilities down to the three it felt were most promising:



All-Natural Focus Become a holistic wellness and natural beauty-care spa that offers a range of all-natural products and services, including skin care, massage, yoga, supplements, teas, and nutrition consultations.


Facial FocusBecome a one-stop shop for all facial care treatment throughout a customer’s lifetime. Drop the natural focus.


Online ChannelOffer online appointment scheduling and online purchasing of products from trusted, best-of-breed suppliers.


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The team then delved more deeply into its three strategic possibilities by drafting a five-box cascade for each, starting with expanding its all-natural offerings to services beyond facials.


Where will we play?


• To be Sydney’s number one holistic wellness and natural beauty-care spa• To build beauty regimens and treatments that increase clients’ well-being and confidence

• Holistic practice (e.g., Aryuvedic medicine)• Personalized, credible education in holistic practices• Branding, marketing, communication• Customer experience design

• CRM, including exchanging volunteer hours for services • Performance management and training• Inventory management• Scheduling and logistics

• Customers: Professional women in their 30s and 40s seeking a partner in wellness and beauty• Channel: Retail shop and spa• Product: Natural wellness and beauty products (skin care, supplements, teas) and services (skin care,

massage, yoga, Pilates, meditation, nutrition consultations)• Geography: Downtown Sydney and select suburbs

• Partnership with clients, cocooning them in a supported, holistic, natural approach to health and wellness

• Strong sense of community and trust• Distinctive services with customized, targeted advice• Outstanding customer experience with knowledgeable, warm, and attentive providers



Strategic Possibility #1: All-Natural Focus


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The team also delved into their second strategic possibility of dropping its all-natural focus to emphasize all forms of face-care services.


Where will we play?


• To be Sydney’s top destination for facial treatments • To provide effective facial skin-care products and services that improve skin’s look and feel • To make clients feel beautiful

• Facial skin assessment and care• Life cycle planning (regimens that evolve with customer)• Customer relationship building and management• Branding, marketing, and communications

• Supply-chain management• R&D, product development• Customer knowledge management • Staff training and development

• Customers: Professional women concerned with beauty and skin health who want to avoid going “under the knife”• Channel: Retail shop and spa• Product: All nonsurgical skin-care treatments (facials, peels, microdermabrasion, anti-aging) plus premium

skin-care products from own brand and selected partners• Geography: Downtown Sydney business and shopping district

• A single spot for all face care throughout a customer’s lifetime• Deep expertise and personal relationships• Wide array of facial offerings, giving customers choice and customization



Strategic Possibility #2: Facial Focus


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Finally, the team delved into the third strategic possibility of adding an online channel to its all-natural model and expanding to offer other natural brands.


Where will we play?


• To be Sydney’s highest volume natural skin-care provider • To be the leading online supplier of natural skin-care products in the region • To make clients feel both wholesome and beautiful

• User experience design• E-commerce• E-mail marketing• Product category management• Branding, marketing, and communications

• Purchasing systems• Inventory management• Customer service protocols• Product testing, sourcing, regimen structuring• CRM

• Customers: Professional women seeking all-natural and convenient skin-care options• Channels: Retail and online shop, spa• Product Category: All-natural, organic, regimen-based products from trusted, best-of-breed suppliers and

spa-based services (simple suite of facials)• Geography: Downtown Sydney and New South Wales and Victoria regions

• Simplicity and ease• Reliable services • Easy to book and to buy online, with at-home or at-office delivery• Warm but efficient service—on time, every time

• Trusted products with transparency of ingredients



Strategic Possibility #3: Online Channel


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The All Natural team looked at conditions in seven categories relating to its industry, customer value, relative position, and competitors:






On the following pages are the conditions they identified in each category for each of the strategic possibilities and their current strategy.

Reverse Engineering


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Reverse Engineering the All-Natural Focus Possibility


Segments •A large-enough segment of professional

women in downtown Sydney seek a holistic, natural approach to well-being and are:

•Willing to pay a premium for services

•Willing to buy skin care and wellness services under one roof

•Willing to try new wellness services and supplements

•Willing to visit both downtown and suburban locations

•This segment of consumers would:

•Repurchase products and services every two to three months

Structure•Barriers to new entrants are reasonably high

due to branded differentiation and long-term customer loyalty

•Potential supplier (aesthetician) power can be mitigated through greater levels of certification and expertise

ChannelNot applicable

End Customers•Value comprehensive spa and wellness

services under one roof

•Value knowledgeable, warm, and attentive service providers

•Value close partnership with one differentiated spa and wellness center over desire to visit multiple spa and wellness centers

Capabilities•We can hire and train aestheticians to

deliver spa services

•We can hire/contract and retain high-quality wellness experts

•We can cultivate genuine partnerships with clients and create a sense of community

•We can create a powerful, connected, holistic experience for customers

Costs•Our cost structure enables us to price

comfortably within the top quarter of Sydney downtown spas

•Costs of R&D and manufacturing of spa-brand products enable price point equivalent to Lancôme (midtier prestige)

•Costs of wellness experts/partners remain at reasonable levels

•Additional space can be leased at a price that provides acceptable margins

•Additional offerings lower space costs relative to revenue

Reaction•Spas/wellness centers:

•Will find it hard to replicate this approach because of our distinctive and integrated product and service offerings

•Will not play in the same ways and areas



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Reverse Engineering the Facial Focus Possibility



women in Sydney seek a nonsurgical approach to facial care and are:

•Willing to trust our expertise in intensive nonsurgical treatments

•Willing to try nonsurgical treatments

•Willing to commit to an ongoing regimen over time

•Demand for nonsurgical treatments will continue to grow at the current rate (or faster) for the next five years

Structure•Downtown Sydney isn’t oversaturated with

spas targeting the same customers

•Barriers to new entrants are reasonably high, due to branded differentiation and long-term customer loyalty



End Customers•Value a spa for nonsurgical facial treatments

•Value one relationship, over time, for all skin-care needs

•Value more intensive skin-care options than are available in the market

•Value efficacy of intensive products over all-natural ingredients

Capabilities•We can develop deep expertise in effective

nonsurgical treatments

•We can effectively market and brand spa to create loyal clients

•We can hire and train aestheticians to deliver nonsurgical skin-care treatments

•We can source premium products to effectively complement our own brand



•Incremental revenue will exceed capital equipment and operating costs, resulting in positive ROI


•Space can be leased at a price that provides acceptable margins

Reaction•Spas:

•Will find it hard to replicate strategy because of our deep expertise and reputation of our nonsurgical facial treatments


•Plastic surgery clinics:

•Won’t broaden into nonsurgical treatments



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Reverse Engineering the Online Channel Possibility



women seek a natural approach to skin care and:

•Will buy natural products online

•Will use online tools to book appointments

•Will pay for trusted products at a premium price

•A large-enough segment of online consumers seek:

•A natural multi-brand skin-care regime


spas targeting same customers

•Barriers to new entrants in the spa industry are reasonably high, due to branded differentiation and long-term customer loyalty

•Ease of online ordering and home delivery can produce “stickiness” in the spa industry

•E-commerce industry structure for natural skin-care brands is more attractive than other e-commerce in Australia

•Product knowledge and brand-based trust create barriers to new entrants online


End Customers•Value expert recommendation and vetting of

organic brands

•Value simplicity, ease of online booking

•Value high-quality, trusted spa experience extended to online experience

•Value warm but efficient service

•Value natural multi-brand skin-care regimen, customized for them

Capabilities•We can effectively manage two distribution

channels (online and in store)

•We can deliver consistent, warm, efficient customer service online and in store

•We can create an online experience that reinforces in store spa experience

•We have and can leverage deep product knowledge

•We can build simple, natural, effective, multi-branded treatment regimens

•We can maintain positive or strong relationships with brands and suppliers

•We can persuade organic brands to be part of our regimen-based offerings

Costs•We can achieve economies of scale through

the online store

•Advertising costs remain acceptable

•Space can be leased at a cost level that provides acceptable margins


Reaction•Spas:

•Will not play in the same ways and same areas

•Will be uninterested in e-commerce and unable to move into it

•Online-only retailers:

•Won’t be able to create similar offerings or substantially undercut our prices



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women in downtown Sydney seek a natural approach to skin care and are:

•Willing to pay a premium for spa-brand products

•Willing to use spa-brand products at home

•Inclined to develop brand preference and loyalty over time

•Willing to pay for premium facial services from an aesthetician

Structure•Downtown Sydney is not oversaturated with

spas targeting the natural-care segment

•Barriers to entry for new entrants are relatively high, due to branded differentiation and long-term customer loyalty


End Customers•Value knowledgeable, warm, and attentive

aestheticians

•Value an ongoing relationship with one spa rather than opportunity to try other spas

•Value branded differentiation

•Value natural skin-care products and in-house services

•Value using customer reviews to determine which spas to frequent

Capabilities•We can create natural skin-care

formulations that deliver effective results

•We are able to hire and train knowledgeable, warm, and attentive aestheticians to deliver outstanding facials

•We can create a clear and powerful differentiated brand

•We can create a differentiated customer experience

•We can create loyalty for the spa rather than for individual aestheticians

Costs•Costs of R&D and manufacturing of

spa-brand products enable price point equivalent to Lancôme (midtier prestige)

•Spa and retail shop margins enable us to sustainably price in the top quarter of spas in Sydney

•Space can be leased at a cost that provides acceptable margins

•Costs of retaining specialized aestheticians do not hurt our return on investment

Reaction•Spas

•Holistic and natural players won’t broaden to create cohesive suite of own spa-brand products

•Broad players won’t narrow to holistic and natural approach to skin care

•Natural skin-care brands

•Well-known brands won’t successfully broaden to spa operations

*Nice to have



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Barriers for Strategic Possibility #2: Facial FocusAfter the All Natural team captured all the conditions that would have to be true for the facial focus strategy to work, they then asked themselves: Which of these conditions do we most worry aren’t true? In other words, what are the greatest barriers to this strategy being successful?

The team voted on which they thought were most worrisome and identified three that topped the list (see the following page for the barriers to focusing on facials).

The team then repeated this process for each of the possibilities and the current strategy. For illustrative purposes, we’ll show you this process for just the facial focus possibility.

Identify Barriers


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Identify Barriers to Facial Focus

2

1



women in Sydney seek a nonsurgical approach to facial care and are:

•Willing to trust our expertise in intensive nonsurgical treatments

•Willing to try nonsurgical treatments

•Willing to commit to an ongoing regimen over time

•Demand for nonsurgical treatments will continue to grow at the current rate (or faster) for the next five years


spas targeting the same customers

•Barriers to new entrants are reasonably high, due to branded differentiation and long-term customer loyalty



End Customers•Value a spa for nonsurgical facial treatments

•Value one relationship, over time, for all skin-care needs

•Value more intensive skin-care options than are available in the market

•Value efficacy of intensive products over all-natural ingredients

Capabilities•We can develop deep expertise in effective

nonsurgical treatments

•We can effectively market and brand spa to create loyal clients

•We can hire and train aestheticians to deliver nonsurgical skin-care treatments

•We can source premium products to effectively complement our own brand



•Incremental revenue will exceed capital equipment and operating costs, resulting in positive ROI


•Space can be leased at a price that provides acceptable margins

Reaction•Spas:

•Will find it hard to replicate strategy because of our deep expertise and reputation of our nonsurgical facial treatments


•Plastic surgery clinics:

•Won’t broaden into nonsurgical treatments

3



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Strategic Possibility #2: Facial FocusAfter highlighting the three most worrisome barriers to their facial focus strategy, the All Natural team moved on to designing tests of those barriers, starting with the most worrisome—the one the team felt was least likely to hold up.






On the following page are the tests the All Natural team designed for the most worrisome barrier to Strategic Possibility #2. Stefanie worried that the new intensive facial treatments might be too invasive and expensive for her existing customers, who seemed to be most interested in gentle, all-natural approaches to facial care. Because she was the biggest skeptic and would set the highest standards of proof, she designed the tests.



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Barrier Tests for Facial Focus


ObjectiveTo identify the proportion of current customers who would try new, intensive nonsurgical facial treatments offered by the spa.

TestSales staff conduct short survey with every customer at checkout, asking if they would be willing to try new, intensive nonsurgical treatments performed at the spa.

If/Then HypothesisIf a significant number of customers indicate a willingness to try the new treatment, then that would justify spending more time and money on a small-scale test.

Standard of ProofAt least 50% of customers express a willingness to try intensive nonsurgical facial treatment.

ObjectiveTo determine the proportion of customers who would be willing to try one intensive nonsurgical facial treatment and identify any obstacles to trial.

TestPerform in-market test with one intensive nonsurgical facial treatment. Offer peels (no capital investment and minimally invasive) to current and new customers. Interview customers who tried the peel, and those who did not, to understand experiences, needs, and incentives or obstacles to trial.

If/Then HypothesisIf customers are willing to purchase the peel at market prices, then they will be willing to purchase other intensive nonsurgical facial treatments.

Standard of Proof20% of existing clients purchase facial peel within the first month, and at least 10 new clients come to the spa for that service.

ObjectiveTo gain confidence that current and new customers will try and purchase intensive nonsurgical facial treatments.

TestOffer new laser services (single service and packages) at market prices for three months with rented LED treatment machine. Interview customers to understand their experience and willingness to repurchase.

If/Then HypothesisIf customers are willing to purchase laser services at market prices, then they will be willing to try and repurchase other intensive nonsurgical facial treatments.

Standard of ProofWe are able to sell 100 laser services or packages in three months, and 50% of those customers indicate a willingness to repurchase.

BARRIER #1

Industry: SegmentsProfessional women in downtown Sydney are willing to trust our expertise in intensive nonsurgical treatments.

ConcernA focus on intensive nonsurgical facial treatments will require that we establish trust and credibility with customers. They need to believe that the spa is a credible provider of such skin-care services so that they’ll be willing to try them and then repurchase.


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Having designed all the tests for the most worrisome barriers to their three strategic possibilities, the All Natural team was eager to dive into testing. Testing would either increase their confidence in each possibility being a great strategy—or provide evidence that the most worrisome conditions would not hold true.

For each of the three possibilities, there were several vocal proponents and at least one skeptic. Therefore, the team felt that all three possibilities were equally attractive (i.e., there was no clear front-runner) and worth testing in parallel.

For the facial focus possibility, Stefanie started with the guerrilla-style test because of time and money constraints. The team all agreed that the guerrilla test would not be enough to give them full confidence in this possibility, but it would help them determine whether to spend more time and money on more-definitive tests. Stefanie created a short survey that her sales staff conducted with every customer at checkout. By the end of the first week, the team logged nearly 100 responses and 60% of customers expressed a willingness to purchase the new facial treatments. Given this positive result, Stefanie and her team moved on to the small-scale test.

Over the first month, only 5% of clients tried the facial peel service and only four new clients came to the spa seeking it. Stefanie spoke to clients who tried the peel and those who declined. Those who declined expressed skepticism that All Natural’s aestheticians had enough expertise in intensive nonsurgical treatments. This test showed that the most worrisome condition—professional women would be willing to trust the spa’s expertise in intensive nonsurgical treatment—did not hold true.

The team decided to drop the facial focus possibility and focus on completing the tests for the other possibilities— all-natural focus and online channel.



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When the All Natural team concluded the tests and analyzed the results, they agreed that the possibility of expanding their all-natural products and services was the most promising. The tests showed that it was a logical extension of the spa’s current offering of all-natural facials and that customers valued a more comprehensive offering. All Natural Inc. could relatively easily leverage its reputation in natural facials into adjacent offerings.

Next Steps


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CASE STUDIES

Main & State Bank Corporate Strategy Group


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CASE STUDIESMain & State Bank

About Main & State Bank Corporate Strategy Group

The Main & State Bank is a regional bank and trust company that operates on the east coast of the U.S. The corporate strategy group, led by Lorraine Leckey, is responsible for developing strategies for the bank’s various departments and building internal strategy capabilities. Lorraine’s team brings strategy expertise and an enterprise-wide perspective to each engagement with the bank’s departments. Her group is comprised of experienced professionals with a passion for retail banking who come from large strategy consulting firms. Leaders in many Main & State’s departments welcome the group as trusted advisors, but the team is too stretched. Some of the team members have complained about burnout. Without focus, Lorraine worries, her group won’t be able to advance the bank’s overall strategy. What should Lorraine and her team be doing—and not doing—to win?


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Current Strategy

The Main & State team started its Playing to Win process by describing its current strategy using the five-box cascade.

• To push corporate strategy forward • To serve teams and departments to a high level of satisfaction• To build internal constituents’ capability to develop strategy themselves

• Strategy development• Internal customer service• Curriculum development and delivery• Stakeholder management

• Project management• Resource management• Performance management• Feedback gathering and analysis

• Customers: Departments and teams who come to us or are directed to work with us• Channel: Direct collaboration, group workshops • Product: Strategic analysis, training and mentoring, strategic plans• Geography: Head office

• Deep expertise in strategy frameworks, tools, and processes• Insightful analysis and recommendations• Enterprise perspective• Strong relationships and partnerships with department heads and team leaders• Training expertise that builds strategic thinking throughout the organization


Where will we play?





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CASE STUDIES

Having defined its strategic problem as an inability to advance corporate strategy because of unfocused priorities and overstretched team members, the Main & State team then framed its strategic choice as focusing its services or outsourcing strategy work. Based on these two choices, the team generated several possibilities and then clustered them by themes:

Main & State Bank


Inability to advance corporate strategy because of unfocused priorities and overstretched team members

Stra

tegi

c Pr

oble

m

Focus services

Outsource strategy work

Choi

ce

Poss

ibili

ties

Outsource some or all

Focus on strategy development

Focus on capability building

•Form strategy SWAT team to tackle strategy projects internally

•Serve only corporate-level projects

•Serve on first-come, first-served basis or loudest voice first

•Serve key business units (either most in need or most interested)

•Do only the most critical, confidential, or urgent projects

•Focus on mentoring and coaching

•Choose teams based on learning objectives

•Choose individuals (high potential, senior, interested) based on learning objectives

•Focus on traditional workshops and skill building

•Work with teams in full-immersion collaborative projects

•Outsource all strategy work to one leading firm (e.g., McKinsey)

•Outsource all strategy work to best-of-breed firms


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The Main & State team then culled the possibilities down to the three it felt were most promising:



Strategy Development FocusTake a SWAT-team approach (engaging with teams on a short-term basis only) to developing strategy for teams and departments, combining group’s deep strategy expertise with units’ understanding of their specific businesses.


Capability-Building FocusProvide training, coaching, and mentoring to individuals and teams on how to develop strategy. Teach people how to develop strategy rather than doing it for them.


Outsourcing to Best-of-Breed FirmsServe as trusted broker between teams and departments and the best-of-breed strategy consultants.


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The team then delved more deeply into its three strategic possibilities by drafting a five-box cascade for each, starting with focusing on strategy development.


Where will we play?


• To develop winning corporate strategy and team and department strategies to support it• To be a trusted strategy development partner for the organization as a whole and individual departments

• Deep strategy knowledge• Project selection• Relationship building with team leaders and department heads• Agility to manage multiple projects • Collaboration

• Recruiting and on-boarding of strategy experts• Knowledge management• Staffing structure that adapts to changing needs of the

organization • Strategy dissemination• Codification of strategy development processes

• Customers: Teams and departments with strategy needs, senior managers making strategic decisions• Channel: Direct collaboration • Product: Strategic frameworks, strategic plans • Geography: Head office and key regional offices

• Immersive, SWAT-like approach to strategy development• Partnership model with each side contributing deep knowledge (us = strategy, them = their

businesses)• Powerful insights that drive business results



Strategic Possibility #1: Strategy Development Focus


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The team also delved into their second strategic possibility of focusing on capability building and serving as a thinking partner.


Where will we play?


• To be the chosen strategic thinking partner for internal departments• To build internal strategy-making capability that produces superior long-term business results

• Coaching• Relationship management• Teaching and communication• Strategy • Recruitment of mentors and coaches

• Strategy framework• Performance development and progress tracking• Feedback gathering and analysis

• Customers: The most interested individuals at all levels of the firm• Channel: Direct • Product: Education and mentoring, immersive and cross-functional projects, training workshops• Geography: Head office and key regional offices

• Work with cross-functional teams to tackle company’s strategic problems • Instructional design customized for individual learners • Unlock the potential of learners to grow, thrive, and deliver business results• Provide superior formative experiences that build confidence and mastery



Strategic Possibility #2: Capability-Building Focus


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Finally, the team delved into the third strategic possibility of serving as internal advisor in finding and outsourcing to best-of-breed suppliers.


Where will we play?


• To be an essential broker between the business and best-of-breed strategy consultants• To be an internal portal to the best strategy consultants in the world

• Deep knowledge of the strategy consulting industry• Partner assessment and management• Project scoping and development• Relationship management

• Contracting• QA and evaluation• Impact measurement• Customer satisfaction measures• Account management

• Customers: Business unit presidents, functional VPs, brand leaders• Product: Strategy outsourcing support, advisory and project structuring, strategy reviews• Geography: Company-wide

• Positioned as trusted partner, connecting internal customers to best-of-breed consultants • Strategy project framework that enables effective scoping, matching, and partnering• Secure very best pricing and delivery based on deep industry knowledge, institutional

understanding, and aggregation of demand



Strategic Possibility #3: Outsourcing to Best-of-Breed Firms


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The Main & State team looked at conditions in seven categories relating to its industry, customer value, relative position, and competitors:






On the following pages are the conditions they identified in each category for each of their strategic possibilities and their current strategy.

Reverse Engineering


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Reverse Engineering the Strategy Development Focus Possibility


Segments •There is just one segment of internal

customers (i.e., no team is better served by using an outside supplier)

•Internal clients within this one segment:

•Do not want to develop their own strategies

•Will support strategy development by providing necessary information and resources

•Are capable of understanding and implementing strategies

Structure•Strategy can be developed effectively in

partnership with strategy knowledge on one side and business knowledge on the other

•Internal customers have few available, attractive substitutes

Senior Management•Values quality strategy and business results

more than they value having strategy development capability within the businesses themselves

End Users•Value experts to develop strategy for them

more than they value the opportunity to build strategy themselves

Capabilities•We can create strategy as effectively as

outside consultants or as business unit teams can on their own

•We can create strategy without deep, long-term engagement with a given unit or function

•We can create an effective staffing model that meets changing business unit needs

•We can build relationships well

•We can effectively recruit and incentivize our strategists

Costs•We can produce sound strategy work at a

lower cost than outside firms

•We can manage costs associated with hiring and retaining increasingly high-value strategists

Reaction•Strategy consulting firms:

•Will not lower prices to a competitive level

•Will not employ a loss-leader pricing strategy to entice our customers to their services

*Nice to have



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Reverse Engineering the Capability-Building Focus Possibility


Segments •There is a segment of internal customers

who are:

•Willing to spend time learning strategy

•Willing and able to learn strategy through a combination of training and experiential learning

Structure•Internal customers have few attractive

training substitutes available to them

•Training companies have little incentive to move to deeply customized, individualized action-learning models

Senior Management•Sees the value in having broad strategy

development capabilities across the organization rather than concentrated in a single team

Trainees•Value learning strategy development and

improving their capabilities

Capabilities•We can create and deliver sound pedagogy

•We can attract and retain great teachers and mentors

•We can develop robust feedback mechanisms that help us continuously improve

•We can develop or adopt one strategy framework for the organization that supports this training approach

•We can retain trainees after training is complete

Costs•We can produce training at a lower cost

than outside partners

•There are no significant capital expenditures required to take this approach

Reaction•Training firms and business schools:

•Will not play in this super-custom space

•Will not be able to create strategy-teaching frameworks that develop deep capability across organizations

*Nice to have



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Reverse Engineering the Outsourcing to Best-of-Breed Firms Possibility


Segments •There is a segment of strategy consulting

firms who:

•Want to work with a broker that matches client needs to their expertise

•Are willing to take on projects brought to them, rather than signing exclusivity agreements with firms

•Provide high-quality strategy expertise that is appropriate for different contexts

•There is a segment of internal customers who:

•Accept recommended partners

•Do not wish to develop strategy internally

•Can execute a strategy developed outside the firm

Structure•Strategy consulting firms are specialized in

their offerings, expertise, and pricing

•Supplier power of consulting firms will remain manageable due to diversity of offerings

Senior Management•Values the cost savings and efficiencies

provided by this approach

•Values the risk mitigation of having multiple consulting partners

•Values and has confidence in the quality of work from specialized suppliers

Internal Customers/Business Units•Value a broker who can assist with the

strategy outsourcing process

•Value our advisory, partnering, and negotiating services

Capabilities•We can build models for partnering, project

scoping, and strategy reviews

•We can broker knowledge effectively

•We can protect key company information and intellectual property

•We can effectively manage internal and external relationships

•We can evaluate strategy firms and their work on quality and fit

Costs•We can bring the costs of strategy down by

aggregating demand for strategy work and by strategically selecting suppliers

Reaction•Strategy consulting firms cannot effectively

bypass us and go directly to the business units


*Nice to have


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Segments •A large-enough segment of internal

customers:

•Has its needs best met by insiders with enterprise knowledge

•Will set aside resources for strategy

•Can understand and implement strategy

•Is willing to share detailed business unit information

•Will encourage other functions and business units to use an internal function for strategy development

Structure•For high-end strategy work, suppliers have

considerable power and charge a lot based on their prestige

•Internal customer have few attractive substitutes available to them

Senior Management•Values high-quality strategy and training and

are agnostic regarding its source

•Values developing internal capabilities in strategy

•Values the cross-enterprise outlook we provide in this approach

End Users•Value delivery of sound strategy for their

functions or business units

•Value getting just enough training to understand and implement strategy

Capabilities•We can create strategy as effectively as

outside firms

•We can develop meaningful expertise about any business unit and function that seeks a strategy from us

•We can teach just enough strategy to help teams understand and implement

•We can build strong internal relationships

•We can effectively adapt general strategy frameworks to our context

Costs•We can produce sound strategy work at a

lower cost than outside firms

Reaction•Strategy consulting firms:

•Will not lower prices below our ability to compete

•Will not employ a loss-leader pricing strategy to entice trial

*Nice to have



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Barriers for Strategic Possibility #3: Outsourcing to Best-of-Breed FirmsAfter the Main & State team had captured all the conditions that would have to be true for the outsourcing strategy to work, they then asked themselves: Which of these conditions do we most worry aren’t true? In other words, what are the greatest barriers to the outsourcing strategy being successful?

The team voted on which they thought were most worrisome and identified four that topped the list (see the following page for the barriers to the outsourcing strategy).

The team then repeated this process for each of the possibilities. For illustrative purposes, we’ll show you this process for just the outsourcing possibility.

Identify Barriers


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Identify Barriers to Outsourcing to Best-of-Breed Firms

3

4


Segments •There is a segment of strategy consulting

firms who:

•Want to work with a broker that matches client needs to their expertise

•Are willing to take on projects brought to them, rather than signing exclusivity agreements with firms

•Provide high-quality strategy expertise that is appropriate for different contexts

•There is a segment of internal customers who:

•Accept recommended partners

•Do not wish to develop strategy internally

•Can execute a strategy developed outside the firm

Structure•Strategy consulting firms are specialized in

their offerings, expertise and pricing

•Supplier power of consulting firms will remain manageable due to diversity of offerings

Senior Management•Values the costs savings and efficiencies

provided by this approach

•Values the risk mitigation of having multiple consulting partners

•Values and have confidence in the quality of work from specialized suppliers

Internal Customers/Business Units•Value a broker who can assist with the

strategy outsourcing process

•Value our advisory, partnering, and negotiating services

Capabilities•We can build models for partnering, project

scoping, and strategy reviews

•We can broker knowledge effectively

•We can protect key company information and intellectual property

•We can effectively manage internal and external relationships

•We can evaluate strategy firms and their work on quality and fit

Costs•We can bring the costs of strategy down by

aggregating demand for strategy work and by strategically selecting suppliers

Reaction•Strategy consulting firms cannot effectively

bypass us and go directly to the business units

1

2



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Strategic Possibility #3: Outsourcing to Best-of-Breed FirmsAfter highlighting the four most worrisome barriers to their outsourcing strategy, the Main & State team moved on to designing tests of those barriers, starting with the most worrisome—the one the team felt was least likely to hold up.






On the following page are the tests the Main & State team designed for the most worrisome barrier in its outsourcing strategy.



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Barrier Tests for Outsourcing to Best-of-Breed Firms


ObjectiveTo determine the extent to which internal customers are satisfied with current offerings from outside firms and assess ongoing strategy needs and pain points.

TestSend an e-mail survey to business unit heads asking about pain points and needs, and exploring their experiences with hiring and working with strategy firms.

If/Then HypothesisIf business unit heads express needs that can be met by outside firms and they express satisfaction with outside firms, then that would justify spending more time and money on a small-scale or definitive test.

Standard of ProofTwo-thirds of business heads need to respond to the survey, and over 75% of respondents need to express needs that can be met by outside firms. No respondent expresses an insurmountable concern about working with outside firms.

ObjectiveTo test the concept of the outside partner model with key internal customers.

TestCreate a prototype of the model that articulates what the internal customer’s experience would be in seeking strategy help from an outside firm. Share the prototype with internal customers, asking for feedback and suggestions, and assessing their willingness to use the service.

If/Then HypothesisIf internal customers respond positively to a prototype of the new model, they will be willing to use outside firms for their strategy work.

Standard of Proof75% of interviewees need to indicate a willingness to use the new model. Interviewees don’t raise significant concerns about the new model.

ObjectiveTo pilot the model on a small scale to gain in-market feedback before scaling across the firm.

TestPilot this approach with one business unit head. Measure uptake and customer satisfaction rates among that business unit’s teams. Identify a pricing scheme and value proposition for internal customers.

If/Then HypothesisIf the one business unit head and her team leaders report satisfaction with the model, other business unit heads will adopt the model.

Standard of ProofThe business unit head and her team leaders must report satisfaction rates at least 10% higher than current levels.

BARRIER #1

Customer Value: End UserBusiness units value our advisory, negotiating, and partnering services.

ConcernThis model will be viable only if the internal customers value the services we provide and are willing to try the new offering.


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The Main & State team was tired of being pulled in too many directions and hopeful that a clear strategy would enable them to be more effective. Lorraine and the team felt that the outsourcing strategy was the most appealing, but they also worried it would be most difficult for their customers to accept. So the team began testing here.

Lorraine asked Mark Mistry, her second-in-command, to take charge of testing this possibility, as he had been most skeptical about it in their discussions. Mark took a measured approach to avoid unnecessary disruptions to their customers and started with the guerrilla-style test of the most worrisome barrier: Business units value advisory, partnering, and negotiating services. He knew that they could always move on to more substantial tests if the guerrilla-style test had a positive result.

Mark sent an e-mail to all the business unit heads, asking about their key strategy needs and pain points. He also asked about their current experience with outside strategy consulting firms. He wanted two-thirds of business units to respond before he analyzed the results. After prompting them at the end of that week, Mark analyzed the feedback. To his surprise, the needs and pain points across different units were quite similar. Many of the business unit heads felt that the current

strategy process was disjointed and hard to understand and wanted a way to streamline and standardize the process.

The feedback from the guerrilla-style test was clear enough that the team decided to move to the definitive test. They skipped the small-scale test because they didn’t think it would give them enough confidence. They asked Ellie Komberg, a well-liked, respected, and well-connected member of the team, to test the outsourcing strategy with the business unit heads over a three-month period. She created an initial prototype of the outsourcing model, gathered feedback from several business unit heads and their team leaders, and started testing it.

The team agreed that client satisfaction would have to be higher than current levels by 10% for the prototype to pass the test. By this standard, the test was a success: While there were a few bumps, the team leaders who participated in the pilot reported satisfaction with the advisory, negotiating, and partnering services that Lorraine’s team provided.

Because it took three months to get the definitive test results back, Lorraine had already begun testing the capability-building strategy. The team found that the tests of its most worrisome conditions also passed.



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The team reconvened to discuss the test results and decide which possibility had the highest probability of success and would best fit the bank’s overall strategy.

Which new strategy will work for them? Will they win by outsourcing the bank’s strategy work to external best-of-breed consulting firms? Or should they focus on building the bank’s strategy development capability?

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