The Discovery Process

Description:

Dynamic markets can put pressure on current business models to achieve the growth rates that organizations need to survive. When this happens, organizations must find a new platform or business opportunity that will supplement their current strategy and drive new growth in the future.

With The Discovery Process, Visterra plus a cross-functional team from the client organization will first identify and align with senior management on the most attractive strategic frontiers for organizational growth. The team, with expert coaching from Visterra, will explore these frontiers for insights that will provide future value. Using a creative process, Visterra will lead the team in creating new business concepts that leverage those future-value insights and developing a strategic roadmap for the future.

Process:

The five-phase process to be employed in The Discovery Process is described in detail in the book by Visterra’s founders, The Power of Strategy Innovation. Key steps are as follows:

1. Senior management alignment interviews.
2. Team selection and preparation (Staging Phase).
3. Identification of, and alignment with senior management on, the most attractive strategic frontier options (Aligning Phase).
4. Exploration of the strategic frontiers for insights on future value – including immersions on Customer Value, Market Dynamics, and Business Model Innovation (Exploring Phase).
5. Creation of a portfolio of new business concepts that leverage the insights discovered in the exploration process (Creating Phase).
6. Creation of a strategic roadmap that charts the most attractive business concepts with key market dynamics of the future (Mapping Phase).

Deliverables:

1.Portfolio of future new business concepts across timeframes (short, medium, long) and levels of innovation (low, medium, high) that reflect future value opportunities on the strategic frontiers identified.
2. Report of senior management alignment interviews.

Timing:

4-8 months

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