Launched 10 adjacent businesses in 3 years
An Executive VP for a Fortune 50 company recognized that the growth of his highly successful $20B business unit was starting to slow and market trends were likely to cap future growth. He formed a group to create, select, incubate and launch two businesses per year into significant adjacent growth markets.
ICG led the design of an organization to meet this growth challenge with multiple End to End Adjacent Business Launches each year. A new business group was formed in partnership with the core business leaders. The first step was to perform a current state analysis of the core business to identify what assets to leverage for growth. Five “Markets of Interest” were selected by the Executive VP to focus the innovation efforts on compelling growth trends. An investment review board was formed with senior executives to manage a $75M venture fund using a financial portfolio management and review processes. Uncertainty adjusted value analysis was used as the method to manage investments across multiple businesses and make adjustments as the businesses shared their progress against their Evidence Based Execution Plan. This approach encouraged higher risk because the client’s adjacent business leaders and investors remained tightly aligned during the Guided Business Launch. Hundreds of employees participated in the new business portfolio by contributing ideas or joining the startup teams for the new businesses.
Over a three year period, 10 adjacent businesses were launched into the IT, display, life science and printing markets. Hundreds of employees gained experience in successfully entering new markets.