In today’s world driven by change and uncertainty, an agile approach to develop, review and update your strategy is essential for success. Likewise, dynamically adjusting the way in which your organisation is structured and the way in which it operates is a key driver of top business performance.
Singular is a trusted adviser to large corporates, mid-size and family owned businesses across a large range of sectors including industrial goods and services, natural resources and energy, logistics and infrastructure and the public and social sector. At the core of our approach, lies a combination of forward-thinking views, practicality and excellence in execution – as well as our continuous leverage of a global network of clients, investors and partners that help us share ideas and opportunities across geographies.
Depending on your business, the axes of future growth opportunities may vary from exploring adjacencies to your current core competencies or considering new sectors which have high potential but need a total overhaul of your organisation. With this much uncertainty, Singular gives you the confidence to identify the right opportunity.
Examples of potential axes of growth that we typically explore include:
- Extending vertically up or down your current value chain
- Expanding horizontally into new commodities within your core activity
- Entering into new geographies beyond your current customer base
- Targeting new customer segments
- Developing a product differentiation (in line with a market trend / opportunity)
- Leveraging technology for opportunities to disrupt your value chain
- Defining different business models to test and learn about completely new sectors / markets (e.g. Corporate Venture Fund, Joint Venture Partnerships)
Our typical strategy engagement will stretch over six to ten weeks and focus on the following activities:
- We ensure we have a full understanding of the status quo including a review of past strategies.
- Our team will conduct belief-audits i.e. interview senior management to gather internal perspectives on future growth options.
- We will benchmark other companies / sectors to bring external perspectives on how others have approached growth to pick relevant key learnings for your company.
- Using growth axes that are relevant for you, we will define a custom growth framework.
- We will develop a long list of strategic options along each growth axis.
- We will shortlist the options based on attractiveness and likelihood of success.
- Lastly, we will detail the shortlisted options including examining the business case, defining the go-to-market strategy and considering the risks and key success factors.
Once your path is defined and accepted in your organisation, we work with you to build execution capabilities to turn great ideas into business outcomes.
88% of business leaders say strategy implementation is key to their competitive advantage. However, only 7% of organisations view themselves as very effective at introducing change. In this rapidly changing environment, it is no longer good enough to have good intent and a new strategy or development model. Ideas need to turn into impact by implementing solutions and seeing them through to the point of successful delivery.
Several common pitfalls affect companies in taking the leap from concept to implementation:
- Companies define their strategy, but don’t implement actions to achieve it due to a lack of understanding of the methods required to do so.
- Budget and skills are not aligned. Often there is not enough money or employees do not have the capacity and/or the capabilities to bring about change.
- Leadership might believe that the concept needs to be implemented, but everyone else in the company does not follow suit.
- The capacity to understand roadblocks and solve problems is lacking.
- There is no model to offer as guidance and assist in learning and adjusting.
We will help your company to be one of the few who are successful in their change efforts by using the following approach:
- We will develop a roadmap that includes a detailed execution plan of key priorities, and maps key milestones and potential challenges, that is signed-off by key stakeholders and initiative owners.
- Resources will be allocated, i.e. budget for people, tools and enablers will be fully aligned with the roadmap.
- A stakeholder management plan will be developed to manage relationships with each key stakeholder, including key messages and engagement initiatives.
- A transformation team will be put in place with skills and tools to support implementation initiatives, monitor results and improve problem solving. This will be a separate unit that has full support from leadership.
- Lastly, we will ensure that operations are agile by implementing a clear process to test, evaluate and re-adjust the transformation plans on an ongoing basis.
We support our clients in developing operating models to reach their long-term goals, starting today. To develop a refreshed operating model, three changes need to be targeted:
- Growth step – Growing a business rapidly, whether through acquisition, major projects or accelerated product deployment, means major business change. Your operating model needs to be ready today and needs to be able to adapt as you grow.
- Performance improvement – Performance must be designed for, with an operating model that enables all parts of your business to operate effectively and efficiently. We target areas of improvement and deliver the results to drive performance.
- Strategy shift – As you look to innovate to stay ahead of a changing market, the underlying business needs to change too. Our approach takes the change in these objectives and translates that into the required change in your operating model.
At Singular we take a holistic approach to designing an operating model that goes beyond moving boxes around an organogram. With your strategic objectives as our compass, we seek to ensure that all the internal business elements are in place to give you the highest chance of success. As such, these engagements typically run for six to twelve months but we look to deliver value as early as possible by using the following approach:
- Defining the required scope of work and processes to achieve your goals
- Determining how responsibilities should be allocated across the business to optimise both effectiveness and efficiency
- Ensuring the right people are in the right place to deliver in this environment
- Ensuring the culture supports the stated objectives and encourages success
- Empowering teams to perform by ensuring the appropriate infrastructure, resources and physical tools are in place
- Assessing your existing capabilities and how to close the gap to where you should be
Culture is an essential enabler of strategy and deserves a high degree of leadership attention. It influences the way people work and is a key component in how the organisation achieves its goals. Culture transformation begins with personal transformation of leaders as they are the ones who create culture.
Changing the way people think and behave is challenging due to the following reasons:
- Culture is informal; thus, cultural change requires more than adjusting official methods and procedures.
- Cultural change is not focused on one specific group but needs to apply to everyone.
- Culture is self-reinforcing in that if someone acts in a specific way, it will be interpreted by others in the organisation.
We help you to overcome these challenges by using the following approach:
- We follow a top-down approach where we define the target culture which is tested and refined with mid-management.
- The desired future culture is defined so that we can identify gaps and prioritise actions to close the gaps.
- Concrete next steps are then defined to induce changes that are immediately visible to the organisation. This includes developing leaders who are able to embody the required culture and address the personal aspect of culture such as values.
- We use a scientific framework integrating psychology and leadership research to quantify a leader’s development stage and to identify concrete areas of improvement.