A multi-national semiconductor company had a declining cash-cow chip manufacturing business. Some senior leaders wanted to boldly shift to new products and enter new markets, but overall the company was proving unable to change.
A diverse group of 40 participants representing Engineering, Sales, Business Transformation, Finance, Shared Services, and HR was convened to tackle the question of transformation. The company's senior leaders had decided the question beforehand, but after the agenda-setting exercise, many in the group argued that this was the wrong question. The real question, they proposed, was: How do we become relevant again?
The team identified and aligned around how to shift from its legacy, declining business into new markets and new products. Execution followed quickly. Three years later, the company's market cap grew from 1.5 billion to 30 billion, which leadership attributed directly to having applied our approach.
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