When we think about forming a company’s strategy, there is only one direction to look: outward. What is the added value we can offer our customers to keep them loyal to our brand? Although this may sound simple, in changing times what products and services we offer and how we offer them is also in constant transformation, challenging companies to re-think business models in order to meet the changing standards, behaviors and tastes of our clients.
As Mark Johnson, co-founder and Chairman of the innovation-based consultancy Innosight, explained at this year’s World Business Forum Buenos Aires, the biggest challenge companies face is defining a model that “enables large waves of new growth to continue to allow your business or organization to thrive.” According to Johnson, the key to unlocking that growth is to understand how great business models work, and how you can transform your business to reflect those practices. Today companies have to contribute to the market products that are easy to understand, accessible, and even customizable. The business models of the past won’t lead you to such lofty goals—so the key to a successful strategy is developing one that is flexible enough to adapt over time. In the following we present some of the companies that have done so fortuitously—and are building a path to long-term profitability.
Franz Koch still hadn’t officially been named the CEO of Puma when he began working on his strategic plan towards 2015. In 2009 he was an executive in the company in charge of Strategic Global Planning, responsible to design the company’s long-term strategy. In that moment, he began to develop the growth plan “Back on the Attack” that was eventually launched in 2010.
After two years Koch, now Global CEO of Puma, revealed in an interview with WOBI the six steps to their strategy that aims to make the brand “the most desired and sustainable lifestyle brand in the market.”
Originally from Luebeck, Germany, Koch was just 33-years old when he assumed the head role of the company, and though it would certainly be within his rights to be extremely proud of this accomplishment, he says, simply, that he’s behind. “Eighteen years ago my predecessor, Jochen Zeitz, became CEO at the age of 30. So I already feel a little old,” he kids.
Extracted from an interview with Nancy Díaz Cabañas. To read the entire article, subscribe to WOBI magazine.