Gwynt, the consulting firm for family businesses, hosted a meeting with CEOs/CFOs from the food industry on strategy 2.0. The food industry is challenged by never-ending pressure from the retail channel. Due to increasing complexity, an ever-increasing threat of lack of production personnel and increasing and diverging laws & regulations . But also by start-ups that are springing up like mushrooms and trying to outgrow the established order with highly innovative concepts and services.
Time to reflect together on the importance of a good strategy process in response to these challenges and how it can be shaped further. A lively discussion took place among the meeting participants; in an increasingly rapidly changing world, are traditional strategy models sufficient? Is there sufficient time and attention to the strategy process and real innovation? And in doing so, are we looking far enough ahead and beyond our own sector? Questions such as “Will retail in its current form still exist in 15 years?” and “Is far-reaching mechanization possible and financeable?” were posed to each other.
The dichotomy between spending time on day-to-day operations (the present) and exploring what is needed for tomorrow (the future) was keenly felt. Moreover, it became clear that by looking at trends and (technological) developments far beyond the industry’s own boundaries, unprecedented opportunities can be found. Consider, for example, using big data to make customer behavior and the production process more predictable.
Tasty ingredients that, brought together by the right strategic recipe, lead to clear choices. Choices that, if implemented in a disciplined manner, can ensure continuity even in the longer term. Interested in the recipe? If so, please contact us.
