Transforming the small business development division for a global banking corporation.
Our client's small business development division needed to transform its business model to maintain a competitive edge during its next growth phase. Our work included a Current State Assessment to identify inefficiencies, a Future State Design aligned with growth objectives, a high-level skills assessment to pinpoint critical skill gaps, and a change and implementation roadmap to guide the transformation. These strategic changes prepared the organisation for sustained growth, operational optimisation, and strategic agility.
Service
Sector
"Our strategic intervention empowered the banking group for sustained growth, operational excellence, and strategic agility."
The Challenge
Our client faced the challenge of transforming their business model to ensure a sustained competitive advantage during their next growth phase. Despite their market-leading position, they needed to consolidate and build upon their existing reputation.
Key challenges included;
- Integrating banking and advisory functions to find the optimal synergy for these two areas within the group.
- Ensuring a clear understanding of responsibilities and effective coordination between the HQ team and the Regional Network. Improved communication and alignment were vital to drive impactful delivery and outcomes.
The Solution
We addressed the banking group's transformational needs through four critical activities:
- Current State Assessment (CSA): We analysed the organisational landscape, examining operations, structure, workforce, capabilities, skills, culture, and technology. The CSA pinpointed inefficiencies and areas for improvement, providing a foundation for change.
- Future State Design: Building on insights from the CSA, we crafted a purpose-built future state model. This design aligned with growth objectives, emphasising agility, scalability, and operational excellence.
- Skills Assessment Approach: Recognising critical skill gaps, we developed a detailed skills assessment approach aimed at understanding these gaps in detail and providing a strategy for addressing them as part of the transformation.
- Change Roadmap: An implementation roadmap provided a tangible approach to delivering the proposed changes and ultimately ensuring a more efficient and impactful small business development division.
The Impact
Our strategic changes positioned the organisation so that they were best placed for sustained growth and competitive advantage:
- Operational Optimisation: Our current state assessment (CSA) revealed current challenges. Armed with this insight, we could focus on identifying opportunities for improvement.
- Skills Enhancement: The CSA highlighted gaps in critical skills, subsequently identifying the required interventions to close those gaps and ensure the client had the capabilities to deliver against its future strategy.
- Strategic Alignment: Through adjustments and improvements to the business model, the group is now better placed to ensure alignment of the bank's small business development offering, ensuring scale and impact and more effective, efficient, and quality delivery.
- Strategic Agility: With a purpose-built future state design, the group can act more agilely, adapting swiftly to changing market conditions, emerging technologies, and customer needs. Their improved ability to pivot and innovate will ensure that they remain at the forefront of small business development, even as the external landscape evolves, and will also prepare them for geographical expansion into new markets.
