Overview:

• The client was able to make a strong entry into its new market, adapting admirably to their new business model.

Challenge:

A multibillion dollar company operating in countries around the world approached Challenge Advisory for assistance in achieving a new strategic direction for their organisation. They wished to expand their business model to include the monetisation of data, and wished to gain an understanding of how the market operated in order to implement a profitable entry initiative.

The Revelation:

The strategy team, alongside the organisation team, conducted a full analysis of the client’s organisation, scrutinising the company culture, organisational structure and human capital, and came to the conclusion that the the client required a comprehensive education in their new area of business, as well as an adjustment of their strategies and organisational structure, in order to guarantee success in the data monetisation field.

They encouraged the client to allow their chief information and chief technology officers to enrol in a course at the Challenge Institute, where they could learn how best to monetise their data. The course enabled the client to learn about the best and latest practices in the field of data monetisation.

The Challenge Institute course also allowed the client to collaborate with C-level executives at similar organisations, where they could exchange insights and establish partnerships. Challenge Advisory assisted the client in understanding their chosen models, including organisational structures, implementation strategies and any necessary changes in company culture.

This was achieved by way of a series of high-level teaching summits, tailored to the specific needs of the client and established to facilitate the understanding of market-influencing topics.These bespoke summits consisted of workshops, plenary sessions, panel discussions and networking sessions.

Outcomes:

As a result of Challenge Advisory’s client service and the work undertaken at the Challenge Institute, the client was able to make a strong entry into its new market, adapting admirably to their new business model.

Thanks to the organisational development undertaken, the department proved to be extremely cost efficient, resulting in high profit margins that contributed towards a $1.3 billion USD increase in revenue in the first year of implementation.