Situation
Following a management buy-out of a large American company, the client, an Icelandic plastic manufacturer, was prompted to create its very first corporate strategy. The company consisted of two main parts: a branded organisation and a group of seven individually run plants producing non-branded custom-made plastic products. The management team, who was only a few hours old on paper, faced the immediate task of aligning their future common strategic ambitions for the company for the next five years.
Approach
A capability-based strategy was co-created through a series of workshop events with owners, senior management and a broader stakeholder landscape such as suppliers, customers and competitors. The process included modelling the future plastic container market, including competitive analysis and future supply and demand for raw materials. Different strategic options were mapped out and discussed in terms of technical, economic and sustainable impact.
Results
The project resulted in a feasible and sustainable 5-year strategy with support and buy-in from management. A roadmap, comprising 40 initiatives was crafted to translate the strategy into action.
