Executive leadership should respond in a timely manner to the industry triggers that warrant transformational change to keep pace with, if not to stay ahead of, the new global realities.

Those triggers include:

• Burning platform, e.g. financial distress, declining market share, etc.
• Technological disruption that create new products or services
• Change in macroeconomics
• Regulatory changes that recasts the rules of the game
• Major movement by competitor
• Evolving consumer behavior that reshapes market demand

Businesses that failed to foresee and defend against such evolving conditions ended up with existing products or services irrelevant—remember Kodak and Nokia. Amidst such disruptive periods, many businesses are battling for survival and even well-established ones are not sheltered from vulnerability. The change has pushed consumers to revisit their essential needs and hence, legacy businesses could be displaced by new entrants who will better fulfill the new needs of today’s customers. Organizations that ignore such warning signs and do not swiftly innovate their business model will definitely face a similar fate.

At this stage, reinventing business model is a fundamental change in how a company generates value for its customers and itself. Devon helps clients redefine their focus and create workable business model without jeopardizing their core business. We bring a fresh perspective by evaluating the company offering through the customers stance to ensure its industrial relevance. We then support the company in creating new capabilities and fortifying weaknesses to gain a competitive edge and ensure its survival and success.