Specialized publishing business within a Fortune 50 services company
Business Problem
While profitable, this business was experiencing slow, consistent growth in annual sales of 5-6% per year in a stagnant, competitive market. Management expected significantly more. C3 was engaged to work to help leaders explore whether there is another way to look at this business that could unlock new insights that would create growth opportunities.
What We Did
C3 delivered a three-day value innovation workshop for 20 company leaders employing state-of-the-art innovation methodology to identify new ways of creating value for customers and the company. Participants conducted field observations with customers and non-customers, examined alternative business models, challenged fundamental business assumptions, and developed and prototyped ideas for new offerings.
Results
This high-intensity process generated dozens of potential ideas for new products and services, new business models, marketing and sales approaches, customer service changes. Leaders reviewed the ideas, sorted them for short- and longer-term revenue-generation potential, and selected 12 for further investigation. High level plans were developed for these high potential ideas, with ownership and timetables designated for each idea. This process focused leadership attention and action on solving the growth problem and resulted in several concepts with high potential to transform the basis of competition within the industry.