A telecommunication division of a Fortune 100 company retained FSG principals to facilitate a scenario planning process at a time of accelerating industry change and widespread market uncertainty. Culturally, the firm was conservative, slow to adapt to changing industry conditions. Leadership saw an opportunity – actually more like a critical need – to do “a strategic reset” of the unit, despite an ingrained “don’t fix it if it ain’t broken” sense of inertia.
The scenario planning project had three goals: First, use insights into future market demand to create a burning platform for innovation and growth. Second, apply scenario learning to inform decisions on specific acquisition and divestment options. Third, institutionalize strategic foresight to anticipate and respond to shifts in the marketplace.
A series of scenario workshops (involving more than 40 participants across the organization) instilled the impetus for action. Over the course of the seven succeeding years, revenue more than doubled, through mostly organic growth, with sales to more than 100 countries. Meanwhile, the firm continued to apply scenario learning to strategic decisions that emerged, including opportunistic sales of select assets that would eventually be at risk with the advent of wireless. The project’s main sponsor remained a firm supporter throughout his tenure at the division. He was subsequently promoted to Chief Strategy Officer and Head of Global Mergers and Acquisitions at the parent company.