For Employees

BUSINESS STRATEGY DEVELOPMENT

If you are looking for something to take your business to the next level, then MY HIJRAT CONSULTANTS are the great people to work with.
We match your ambition for growth and we unlock business potential by creating strategies that drive substantial growth.
A strategy can’t survive on paper alone. Well-crafted words and striking graphics may grab the attention, but your strategy will remain a document and not an action plan, without the right management processes and skills to drive it forward.
Comparatively, the decision on which market you want to win in is the easy bit. Now, it’s time to consider the ‘strategy enablers’ that will bring it to life. What capabilities do you need to build or change to make it happen? And is the business clear on the required investments and resource to implement it successfully?

Here are 5 quick tips to turn aspirations into a robust strategy.

 

1. THINK NITTY GRITTY, NOT PRETTY DITTY

The articulation of the strategy should be more than a description. It should detail the overarching ambition, the growth drivers, and revenue and profit targets. The process of writing this articulation will pressure test how clear and coherent the strategy is. It will often be the basis of sharing with internal and external stakeholders, so it needs to be watertight.While your strategic vision is critical in giving you your focus of where you want to be, equally important are the specific steps and actions you will take to get there. To do this you will need to decide: what are the enablers for growth?

2. FIRST, BUILD A LADDER

Beware the common pitfall of putting all of the emphasis on opportunities and initiatives, without spending the necessary time on working out how to access growth. If you can’t practically climb the tree, then you’ll stay rooted to the ground until the apple rots.
An enabler analysis looks at the capabilities, technology, structure and processes you must embed to enable growth. The first step is to identify a long list of what these are. Consider process changes, new assets, sites or facilities, supply chain and logistics, changes to pricing or proposition, cultural or structural changes, and anything else you feel could be a driver for growth.

3. PICK THE RIGHT ENABLERS

Prioritise the enablers by looking at which will have the biggest impact to win with the target market or consumer, as well as how much resource and investment is needed for new enablers.
Strategies often fail to deliver because enablers are not planned or resourced correctly. They may be the right thing to do but the business does not have the capacity to deliver. This is why enabler scoping and prioritisation is critical for creating credible long-term sustainable strategies.
A final note here is to include BAU projects when prioritising all enablers. They each impact on the business’s capacity for change, regardless of which stage they are at. Meanwhile, consider your target operating model. This is a high-level representation of how a company can be best organised to more efficiently and effectively deliver and execute the strategy. Its primary purpose is to enable the application of a corporate strategy or vision to a business

4. DON’T BE AFRAID OF THE WEEDS

When you have your strategic framework, you need to get down into the micro details. This is the due diligence bit, where you dig under the hood to see if she’s a runner. Typically, this works on a one-year horizon, and is required for an audience who will be implementing the strategy. It is a detailed plan, with absolute clarity on targets, key actions, RACI, resources (capex, opex, people) and any risks.
A corresponding full one-year budgeting will ensure that strategic priorities are correctly funded. Budgets for the individual initiatives can be rolled up to assess the total budget behind the plan.

5. WHAT’S THE SCORE?

The final step is creating an agile scorecard to track implementation and ensure you are agile in how you act. Here, using objectives and key results (OKRs) on a quarterly basis enable you to change direction as needed. The key is ensuring the OKRs are balanced and ladder back to the strategic imperatives. You don’t want to be over indexing in one area as it will bring a distorted view of how the strategy is performing.
We see ourselves as a forward looking group of passionate professionals with the relevant experience to match.

Helping midcap companies find a strategy that delivers

It’s no secret that long-term behaviours drive greater value creation. Read the annual report of any business of any size or sector, and you’re almost guaranteed to find sustainable growth as a headline ambition.
Research shows the clear benefits of going long. Over a 15-year horizon, major companies that focused on their future business enjoy an average 32% revenue benefit in comparison to those more focused on their current business.
But while it’s essential to grow, it’s essentially hard to do. Just one out of every nine companies sustains profitable growth for a decade or more. On average, one in three publicly listed companies will not exist in five years’ time. That’s a five-times increase compared to 50 years ago.
At MY HIJRAT CONSULTANTS, we have built relationships with successful midcap businesses who reset their strategy with us every year, as a matter of course. What’s changed? Where are we now? What do we need to do differently? They trust our consultants to help them balance short-term gain with sustainable growth.
We provide a tried-and-tested framework for creating a successful strategy, backed by a toolkit of solutions.
Contact us for business strategy consultancy

Research

Through extensive research, we have developed a manifesto for long-term growth. It unpacks and decodes the key behaviours that have driven success for leading businesses and brands.

Primary Research

Primary research involves collecting qualitative data directly through interviews with competitors and subject matter experts.
Primary research is the backbone and foundational element of all the work that MY HIJRAT CONSULTANTS does. We scour the internet and invest in databases like everyone else, but our real value proposition and key differentiator is our unique ability to identify and engage subject matter experts in deep, relevant conversations. We believe that some of the most critical intelligence lies in the brains of experts—and so we interview those experts, versus simply relying on published sources. Secondary research may be used to develop a baseline of knowledge from publicly available sources, but real conversations provide the most powerful information and actionable intelligence.

  • Win/Loss Analysis
  • Strategy Workshops
  • Trade Show Intelligence
  • Market Intelligence Platform

Most companies experience a gap between the potential impact of their purpose and current performance. Bridging this gap therefore represents a substantial opportunity to progress the business. MY HIJRAT CONSULTANTS help to find solution the gap and take your further to a next level.

This is the era of purpose-led business. Over the past two decades, Purpose has moved from a fringe idea to the mainstream. The chances are that your organisation already has a well-worded purpose that articulates the reason you exist and the key customer problem you address. If not, then it’s worth investing in one. Research shows that purpose is a critical driver of long-term sustainable growth in a fast-evolving environment.

Those businesses that use their purpose as a coherent and consistent narrative to guide them through constant change will outperform their peers by +32% earnings, +47% revenue and +56% market cap. A good purpose will unlock incremental success by better serving internal and external stakeholders. It will provide strategic clarity, acting as a north star to guide all long-term strategic decision making.
Always aspired to, but never quite reached, a good purpose will be relevant for the next 10 years and beyond. Your company will gain agility by setting a clear direction, whilst giving teams space to flex, adapt and develop. You will empower action with a common goal and shared trajectory, increase engagement and motivation, and also drive competitive advantage, by understanding who you exist to serve and why. The result is deeper customer connections and a powerful innovation platform on which to shape winning value propositions.
For every 10% increase of purposefulness at work, organisations experience 8.1% reduced turnover.[1]

TAKE A STAND

A good purpose is the glue that holds a state of constant progress and evolution together. It’s worth stressing that ‘good’ here means ‘effective’ rather than exclusively ‘responsible’, in an ESG or CSR sense. However, company purposes increasingly encompass an aspiration to contribute towards a greater good, beyond bottom line sales targets. The positive impact of your company on people and the planet may already be incorporated into your purpose, as ‘doing the right thing’ increasingly matters to employees, customers and shareholders.
Indeed, two-thirds of global customers want companies to speak out on issues they care about, while more than half will buy from brands that stand for something bigger than selling their products and services.
In the dogfight to seek and retain talent, a responsible purpose can also give you superiority. Only 34% of workers in the US are enthusiastic about the place they work, yet 74% of LinkedIn members want jobs that offer a sense of purpose. In companies that clearly define and communicate how they create value, 63% of employees say they’re motivated to perform, versus 31% elsewhere.
Younger people are especially scrutinous of the footprint of their preferred brands, whether as customers or employees. 85% of Gen Z customers will share their positive opinion about a company that is doing good, while 83% of Gen Z in the US will consider a company’s purpose when deciding where to work.

NOT FIT FOR PURPOSE?

Businesses understand that a good purpose is a good thing to have in their locker. But many just leave it there. They don’t use it properly. 79% of business leaders believe their purpose is central to success, yet less than half of employees could answer what their organisation actually stands for and what makes it different.
This represents a ‘purpose gap’ between the statement on paper and the everyday actions throughout the business. The potential benefits of a good purpose are therefore lost in execution.
On the plus side, the gap leaves plenty of room to improve the direction of the business, with a view to long-term growth. Re-articulating your purpose could transform it from an isolated tactic into a business-led strategic driver.
Self-diagnose your purpose authenticity and performance by asking these five questions.

  • Do you have absolute clarity on the customer problem(s) our business exists to solve?
  • Will your purpose be relevant over the next 10 – 15 years, and so guide your long-term strategy?
  • Are you effective at communicating and building belief in your purpose and long-term direction across internal and external stakeholder groups (Investors / Regulators / Board / Customers / Partners / Employees)?
  • Does your purpose set a clear direction but give the business space to flex, adapt and develop?
  • Empowered by your purpose, do you feel highly motivated to turn it into reality?

MY HIJRAT CONSULTANTS helps leading companies to bridge the purpose gap. We believe that Purpose is the critical starting point for successful strategy. That’s why it’s the first step within our Strategy Toolkit. We work with companies to unleash the power of purpose in three simple steps:

  1. UNCOVER the truth about your organisation, through employee interviews, surveys and research
  2. ARTICULATE your timeless purpose based on the insights uncovered in stage
  3. EMBED new purpose. Bring it to life across the organisation.