Bob Screen Insurance

Unfortunately, many businesses consider strategy as a one-off job.  Often firms only revisit their strategy when something goes wrong or profits start to fall, rather than consider the positive impact of a more regular review of the business.  As the pace of change increases seemingly exponentially, then being on top of our own strategy is more important than ever.  When was the last time you reviewed your strategy?  Last week, last month, last year, longer?

Clearly it is a critical area for all businesses, large or small.  Often we’re too busy doing the job to take a step back and think objectively about where the business is going in the medium and longer term. 

• How can we build on our strengths and minimise our weaknesses? 
• How can we harness our competitive advantages to best effect?
• Which route is likely to yield the best result over the short, medium and longer term?

An external resource with in depth knowledge of the insurance industry can help provide a dispassionate view of where your business is going, consider the areas development or investment, or those parts of the business or product lines than might need a little attention.   In other organisations, the opportunities and focus areas have perhaps been identified but the impetus to make the change or seize the opportunity needs some help to implement.  Perhaps there are some difficult decisions required that might impact on a group of customers or staff.  The reassurance of a dispassionate view adds the external market perspective which can provide the reassurance to implement the necessary adjustment to the business.

I have many such examples of such strategic interventions that have developed additional revenue and in some cases turned around the fortunes of some businesses. 

Strategic reviews sound expensive and if I were to undertake a full strategic review for Aviva for example then it probably might be.  However, for most firms, it may only be a few days and deliver significant returns for a modest investment.

Take a look at Case Study 2.  With my market and business understanding I was able to consider the options and deliver my thoughts to the management very quickly.  We implemented the proposal quickly and effectively resulting in a significant improvement in the profitability of the business.  As well as the short term gain, the business was able to concentrate more resources on the more productive areas of their business which has resulted in higher longer term profitability and growth.

If you think your business could benefit from a strategic review then please get in touch.