Business Strategy Road Mapping
In the face of growing challenges, every business will at some point in time reaches a crossroad of tough decisions to stay on course and do the same things or pivot to a new strategy to thrive. Business strategy road mapping is the first step to take before making that tough and important decision.
This program provides insights to:
-
Current pain points of the organization.
-
Financial health to undertake the new strategy.
-
Business model suitability.
With these insights, you can now make an informed decision. Should you decide to make that change, we have a roadmap designed just for you to guide you on the implementation stages. No more guessing games.
This program is most suitable for
Growing business
Business model change
Starting Industry 4.0
Growing business
How We Can Help
Watch a presentation on the program.
Assuming your company is eligible for grants, the consultancy cost alone can be as affordable as below SG$5K or more depending on the number of sites and complexity of business processes.
Please use the RFQ page if you wish to have a cost estimate. Select Business Strategy Road Mapping.
How much does it cost to use this service?
There are 4 stages namely:
Diagnosis
Data Analysis
Solution Brain Storming
Road Mapping
How many stages are there in this program?
The required team members are the senior management in charge of finance, operations, human resource, sales, procurement.
Who should be involved in this program?
The entire program from diagnosis to the final roadmap usually takes about 2 months to complete. From experience, common causes that may stretch the timeline:
Delays in getting the information for analysis.
Unavailable data
Delays in decision making
Delays in Grant Approval
How much time is required to complete the program?
We normally require at least 3 years financial data and current operations data. We require this information to help us analyse the situation in an objective manner.
As for financial data, audited financial statements is advantageous but not a pre-requisite. An alternate to audited financial statements is the management of accounts spreadsheet that every business maintains to keep track or incoming customer payments and outgoing expenses.
For operational data, we may request information such as workforce, output data and process data.
What kind of data is required for diagnosis?
There are two outcomes of this program.
First, is the diagnosis result of the current operational pain points and the financial health of the organization. This is an important step towards formulating strategies to overcome the underlying issues of the organization.
The second outcome is the roadmap. The road map details short-, medium- and long-term actions and measures of success to ensure you reach your desired goals.
What is the key benefit of this program?
Project FAQs
Frequently Asked Questions
Developing a road map without first assessing the current state is a sure-fire way to fail. Any transformation journey is fraught with pitfalls. Without identifying pain points inherent in the organization, these weaknesses will trip the transformation effort.
Furthermore, strategy implementation requires resources (financial and manpower). Without having full understanding of the available resources will only result in losing stamina midway through the transformation.
Can I just start with the road map without the diagnosis?
The road map essentially provides key actions, milestones, and measures of success to keep you focus on the journey during implementation.
What is on the road map?
We benchmark your results against industry to give us an idea of your organization’s average performance.
How do we know from your analysis that we are performing as expected?
No. Normally, business plan only involves input on your desire to pursue a new direction with the projected revenue and costs with assumptions on underlying risks.
In business strategy road mapping, it is factual data driven as we take a deep dive into underlying business issues before solution provisioning. This will enable us to formulate strategies for the next step. At times, we have encountered that the Client may not need to change business strategy after all. Data analysis would have shown that there are underlying causes that can be corrected in short time to return to profitability.
Is this program like business planning?
General FAQs
The grant supports qualifying costs for
Consultancy to develop the strategy road map.
Certification (if applicable)
Testing (e.g. involving a third party to conduct market survey)
Training
Assuming your organization's grant is approved, the balance is paid by your organization. For more details on the grant, click here.
What is the grant amount?
You should apply for the Enterprise Development Grant (EDG) under Enterprise Singapore (ESG), core capabilities for business strategy development. Please ensure your organization meets the eligibility criteria.
Which government grant should I apply for?
You are free to approach consulting firms on your own so long your appointed consultant has the experience and is a registered management consultant under the Consultant Quality Initiative (CQI).
SME Centres/ Trade Associations or Productivity Centres act as an agency to channel your grant application to ESG. There will be some admin fee charges levied by the agency, usually priced in the quotation. Furthermore, ESG has sole discretion to approve grants based on the applicant’s merit and not through connection to the associations or agencies.
Rest assured that our project consultants have a separate domain specialty in productivity in addition to the basic CQI certification. We do not charge any admin fee when you apply through us.