For years, the company experienced revenue and margins below expectations. To spur growth, it determined that it needed to revise its strategy, shifting from general services to a focus on specialized higher-growth, higher-margin industries and disciplines. Given its previous broad approach, the company needed to overcome multiple challenges in order to achieve:
Greater focus on a smaller subset of markets
Better alignment between business model strategy and costs
Improved investment profile of key projects in capabilities and systems
Greater owner/shareholder mentality in management
Greater willingness to embrace change.
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Today, the company is in the midst of its multiyear transformation. Costs are better aligned. Systems are better integrated and provide deeper insights more quickly. Governance is more formalized and drives the strategic outcomes planned for by management. The company is actively reviewing its portfolio of assets and businesses, acquiring those better aligned with its strategy of specialized offerings. In one year, the company’s stock price has appreciated more than 50 percent.
While much has been accomplished, more remains to be done as competitors react and the world evolves. To that end, the company will continue to strategically review its business model, investments, assets, and operating model to better react to changes in the market. Because of the foundation now established, the company can pursue its objectives from a stronger and more stable financial base.
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