Challenge:
NHG’s client – a private health and social care services company – was a leading player in its core business sector in Finland. The company was owned by its management with a strong entrepreneurial outlook – which included a commitment to identify and develop new business opportunities. While their core client business was profitable, in recent years market growth had been stagnating and the client was searching for new sources of profitable, solid, long-term growth.
Solution:
NHG developed a growth strategy jointly with the client’s board and management team. NHG systematically mapped out dozens of alternative growth options, both domestically and internationally, and evaluated both their economic attractiveness as well as the client’s ability to win – and then prioritized the options that offered maximum growth potential and the likelihood of success. Next, NHG modeled the growth plan and feasible entry strategies of these prioritized options.
In addition, NHG helped the client in executing and delivering on the chosen growth plan across various activities, including post-merger integration business planning, detailing of growth plan targets and actions for the new business areas, and helping the client teams accelerate sales activities in the new business areas through organic sales planning and developing sales pitch materials.
Result:
The client’s board accepted the jointly developed growth plan and fully and accurately executed it. The plan enabled the management to focus on systematically building long-term growth in the new business sectors that had been selected – while still maintaining entrepreneurial flexibility with regard to pursuing attractive new growth avenues. As a result, the client entered two new business areas in Finland through a synergetic M&A process, and also grew organically in its core business by expanding to another Nordic country. Customer revenue more than doubled in three years.