Strategic change to a profitable business
You don’t change a winning formula, so they say. But what about when all the indications are that the formula is not going to work for much longer and that your role as a major player in the LNG industry is under threat?
Our client was a longstanding and successful energy company, but had recognised that new business models and new competitors posed a substantial risk. The growth in LNG volumes and, even more significantly, an increase in production sources, looked set to take away a significant chunk of their business value.
In short, the old ways of doing things were not good enough any longer.
Recognising the challenge ahead
Our client had identified the problem and the need for a fundamental shift in their ways of doing business, but also realised the difficulties they would have in effecting that sort of change alone. The leaders of their initiative for strategic change retained us to support them throughout the process, indicating that our demonstrated depth of understanding of changes to the LNG industry was a key factor in the decision to bring us in.
We were tasked with giving our perspective on a series of strategic questions raised by the client, constructively challenging their existing processes, and creating a compelling case for change to be presented to their executive board.
A pathway for future decisions
Our responses to the strategic questions our client needed answering formed the basis of weekly assessments and presentations. The findings of these presentations were then debated to determine the next course of action. The close proximity between our consulting team and the client’s team resulted in us offering additional support on any issues or emerging questions that appeared as our client’s internal discussions and approach to strategy development changed over time.
We delivered evidence and strategy recommendations that were presented to the client’s executive committee to set a pathway for future development and decision-making processes.