Strategy and business development advice
When existing businesses are experiencing slow growth and new ventures are still uncertain, managers must decide where to place limited money and people first. Korea Research Institute of Business & Branding's business strategy advisory helps you compare the options side by side.
Korea Research Institute of Business & Branding reviews the company's direction, resource allocation, and new business possibilities. The scope of management strategy consulting includes establishing mid- to long-term management strategies, reviewing business portfolio and investment priorities, developing new businesses and business models, establishing market entry and growth strategies, and designing implementation tasks and performance indicators.
The result of consultation is not a single right answer, but a bundle of comparable alternatives. For each alternative, the conditions, costs, expected effects, risks, and execution order are written down so that managers can make their own decisions, and the conclusion is presented based on institute's professional judgment.
What do you review first when you need to reorganize your mid- to long-term management strategy?
Signs that you need to rethink your strategy come in many forms. The needs of your core customers may have changed, a new competitor may have entered the market in a different way, or goals and actual work may have begun to move apart within your company. Strategy and business development advice first determines whether this signal is a temporary shake or a structural change.
If it is a structural change, we sequentially review what value the company will provide to customers in the future, whether the company has sufficient capabilities to create that value, and if not, what new features need to be installed. Korea Research Institute of Business & Branding addresses these questions from the perspective of linking market changes, internal capabilities, decisions, and execution results.
By what criteria do you divide your business portfolio and investment priorities?
A company with multiple businesses cannot invest equally in all businesses. When setting investment priorities, institute not only looks at the attractiveness of the business and the competitiveness of the company, but also looks at the impact between businesses and the capabilities required for execution.
| standard | Confirmation question |
|---|---|
| Market attractiveness | Is the market in which this business is growing and has room to make a profit? |
| competitive position | Does our company make a clear difference to customers in the market? |
| Connections between businesses | Does this business benefit the customers, technology, and brands of other businesses? |
| resources needed | Are the funds and manpower required for growth affordable? |
| Long-term competitiveness and trust | Can we maintain long-term competitiveness and customer trust while achieving short-term results? |
How do you review new businesses and business models?
New business ideas usually start with a product, but success or failure is determined by who pays the money and how profits are made. Management studies describe a business model as the way a company creates and delivers value and collects some of it as profit (Teece, 2010). Papers that broadly review business model research also believe that this concept refers to a broader activity system than a single product (Zott, Amit, Massa, 2011).
When reviewing a new business, Korea Research Institute of Business & Branding divides customer value, profit model, business opportunity, and market verification into hypotheses and decides which hypothesis to check first. You can reduce risk before investing by first testing hypotheses that have a low cost of confirmation and have a high impact if they are incorrect.
What alternatives do market entry and growth strategies compare to?
There are many ways to reach the same goal. Depending on whether you enter directly, with a partner, or verify first in a small market, the money and time required and the risks you take will vary. institute writes these paths side by side in the same format.
| Compare items | What to write for each alternative |
|---|---|
| condition | To take this path, a company must have market knowledge, organization, and resources. |
| cost | In addition to the investment amount, the time required, manpower involved, and other tasks that are postponed |
| Expected effects | What changes among sales, profits, customer base, and learning effects? |
| danger | Losses when expectations are wrong and whether they can be reversed |
| execution order | What to check first, what to do next, when to reconsider |
How do you design the implementation tasks and performance indicators of your management strategy?
For a strategy document to reach the field, it must be broken down into tasks for departments and people. Execution tasks specify who will do what and by when, and performance indicators capture not only the results but also signals of the process leading to the results. You need to have process indicators so you can correct your direction before you see results. Since more indicators are not always better, we narrow them down to a level that management can look at regularly and use in making decisions. If the execution conditions are blocked within the organization, Organizational diagnosis and operational improvementLet's continue with .
What systems should I look at when considering business reorganization?
Business reorganization, merging or dividing businesses, and changing the main business is a strategic decision and at the same time a decision that touches the system. In Korea, there are laws that establish corporate business reorganization plans and support procedures, such as the Special Act on Enhancing Corporate Vitality. Korea Research Institute of Business & Branding has been strengthening its research on corporate financial stability and business reorganization since 2009, and also includes the conditions of related systems for comparison when reviewing reorganization alternatives. Since reorganization changes the work of members and business partners, the impact is also small for each alternative.
Whose judgment is the conclusion of management strategy consultation?
Advisory conclusions are presented based on institute's professional judgment. A conclusion may be different from what the requesting company expected, and in such cases, the basis for the judgment must be clearly disclosed. Meanwhile, the final decision rests with the company. institute aims to serve as a partner that enhances the ability of companies to make and execute decisions on their own. Independence and data management of the advisory process Research independence and confidentialityCheck it out here.
Strategy and business development advice Frequently asked questions
Which companies need management strategy advice?
If the growth of your main business has slowed, you need to prioritize investment among multiple businesses, or you are a company considering a new business, consulting is helpful. Korea Research Institute of Business & Branding adjusts review items to suit each stage of growth, from large corporations to startups.
Can't I only get one recommendation?
institute reveals the recommended direction based on its judgment, but also shows what conditions, costs, and risks that direction has compared to other alternatives. Comparisons allow management to explain the reasons for their decisions.
Can I review a new business idea even if it is in its early stages?
The earlier the idea, the more useful it is to write down hypotheses and determine the order of verification. We first find out which is more uncertain between customer value and profit model, and design a way to confirm it at low cost.
Can I get help with strategy advice and implementation?
Implementation tasks and performance indicator design fall within the scope of the consultation. If organizational or operational challenges are revealed during the implementation process, they can be addressed through organizational and operational improvement research.
Can I refer to other companies’ success strategies?
You can refer to it. However, when using cases from other companies, Korea Research Institute of Business & Branding explains the differences in industry, size, timing, and market environment to distinguish between parts that can be transferred and parts that cannot.
Hub and related pages for research and advisory areas
Primary sources
- academic paper Zott, C., Amit, R., & Massa, L. (2011). The Business Model: Recent Developments and Future Research. Journal of Management, 37(4), 1019-1042
- academic paper Teece, D. J. (2010). Business Models, Business Strategy and Innovation. Long Range Planning, 43(2-3), 172-194
- statute National Legislation Information Center, “Special Act to Enhance Corporate Vitality”