Many companies are well aware of what is happening with their customers and in their markets. But what about the effects of various trends in a certain market? Any gardening trend can have effects on a number of businesses like producers of garden furniture, seeds, plant nurseries, garden equipments and lifestyle magazines on gardening. What might be the interaction between these various industries, if any?
When analyzing trends, we make use of various reports and databases which provide us with relevant information for your business. We enrich this information where possible with personal expertise from people in our network.
In close cooperation with our clients, we investigate – on average 5 – competitors. This will be both on qualitative as well as quantitative issues. Qualitative issues may comprise websites, product portfolio and market segmentation. Quantitative issues focus on analyzing a series of three years of annual accounts in order to assess the competitors financial strength in comparison with our client.
Data from the trends and competitor analysis can be offset against the actual strategy of our client. Do our findings acknowledge the company’s strategy or may some adjustments be necessary? If so, which adjustments? Financial, organizational or commercial? But also the financial component of the business; what is required to realize the envisaged (revised) strategy?
The strategy review can lead to Business Improvement Plans which may encompass changes in the business, the organization, sales, or financial structure. These plans can be developed with certain financial targets in mind. If required, they can also be organized within certain timeframes or schedules, of course in close cooperation and commitment from management.
Change management in the form of lasting improvements in any business, is our second core activity and based on many years of senior level experience with this work. Any associate of Wardsteyn Trends & Strategy has over 10 years of experience in project management and/or CEO in mid to large companies.