NURTURE EMERGING BUSINESS
An exploitation strategy denotes a blueprint or method adopted by a company to fine-tune the efficiency, productivity, and profitability of its current business operations. The objective is to enhance day-to-day functionalities while mitigating expenditures, all without fundamentally altering the company’s essence.
Strategic decisions such as an exploitation strategy warrant not only strategic foresight but also meticulous execution. Implementing the correct change management approach is essential because it directly influences how effectively and smoothly the proposed alterations are adopted and incorporated. The proper alignment of the ‘how of change’ with the exploitation strategy helps secure employee buy-in, address potential resistance, and navigate any disruptions, ultimately facilitating the realization of enhanced operational efficiency and profitability objectives.
Transactional change management
For an exploitation strategy, the most suitable type of change management is transactional change management. This type of change management focuses on improving existing processes and systems without making radical changes to the organization. It aims to optimize operational capacity and increase the efficiency and effectiveness of current business activities.
Innovative solutions can help identify bottlenecks, reduce waste, and optimize workflows. Additionally, innovation encourages employees to embrace new ways of working and become more adaptable in tackling challenges.
Transitional change management
In situations where an exploitation strategy requires significant adjustments and improvements, transitional change management provides the right tools and approaches to effectively transform the organization and elevate its performance to new heights. It goes beyond mere process improvements and can encompass integration of new business units, departmental restructuring, supply chain optimization, implementation of a new ERP system, repositioning the organization in the market, or enhancing customer service.
Incorporating transitional change management in an exploitation strategy ensures that the organization is not only optimizing its existing processes but also proactively adapting to meet future challenges and opportunities. By embracing change and fostering a culture of continuous improvement, businesses can position themselves for sustained success in a dynamic and ever-changing business landscape.
As ‘Business Innovator’ we are biased on better ways of doing things. From a BIC perspective we encourage continuous improvement and the implementation of new ideas and technologies that enhance business performance and strengthen the competitive position.
Our work typically focuses value creation (quality) on existing business offering, processes and practices. We follow concentric diversification strategies and strategic fits to accomplish your objectives.