We enable your management team to innovate from within—in digital and beyond.
Based on proven methodologies and deep industry expertise.
A German engineered products company with a portfolio focus on specialty pumps. Annual sales of €400M, 4,000 employees globally, manufacturing sites and affiliates in 27 countries around the world.
The company was nearly 100 years old, with a track record of strong growth and products renowned for their innovative functionalities, design and durable quality. The traditional areas of focus, where the client held a very strong market leader position already, offered limited room for further growth. Hence the management team started a strategic initiative to identify fundamentally new, future sources of growth.
LWC and the client launched a series of ideation workshops, focused on the innovation topic. Participants were the management team and leaders selected amongst their direct reports. Together the group defined the dimensions along which the business could potentially growth further: from different product categories and “beyond the product” services to offers for specific customer target groups, to different models of getting paid and new ways of designing the revenue streams.
As a basis for the discussion in each innovation workshop, LWC contributed a deep analysis of the competitive landscape, insights into the industry’s key digitization trends, and a thorough understanding of the customer paint points and shortcomings in the existing offering.
Grounded in this fact base, the management team defined an initial set of 100 fields for further growth. The subsequent filtering and refinement process distilled 12 strategic growth projects to pursue further.
Implementing these 12 projects put the company on the path to a fundamental transformation of their business model and sources of revenue. The client developed a set of attractive new products and solutions, created a digital distribution platform, developed country specific portfolios and business models and set up a company incubator to establish a sustainable basis for the innovation process.