Strategy Implementation for a Saudi Retail Sector Conglomerate
Strategic Gears just completed a strategy implementation project with one of Saudi Arabia’s largest retail sector players, with revamped and updated strategic KPIs and initiatives and fresh implementation plans and budgets, aligned with the client’s objectives. An integrated governance model was developed for the transformation (strategy) department.
Facing strategy implementation challenges, the retail giant set out to revisit its strategy and empower its transformation department, with the objective of leading the market in several aspects (such as sales transactions, revenue & average basket size) as well as other internal priorities (including enhancing the workplace environment, improving employee retention, and process improvement).
The client sought a comprehensive set of strategic KPIs, initiatives, and execution schedule that clearly aligns with its goals. Its transformation department also needed better clarity on its roles and responsibilities in the absence of an integrated governance model.
After careful diagnostics of the client’s business goals and objectives, an understanding of the existing state of each department's KPIs and strategic initiatives was required, which supported in identifying the gaps and missing information cards and initiatives. A final set of KPIs and an enhanced implementation approach of the initiatives were developed after alignment with the corresponding VPs. A strategy implementation map that provides a full overview of the strategy and how it will be implemented successfully was also designed.
The team then supported the transformation department with the creation of an integrated governance model, defining its roles and responsibilities, and creating job descriptions for jobs indicated in the organizational structure. The team also ensured that the client was supported with essential assistance for routine duties so that the company's overarching strategy could be achieved.
The project was completed by Strategic Gears three months after it began. “We’re delighted to have been able to make such a positive contribution to the company and its workforce,” concluded the Senior Consultant on the engagement. He also noted that, in light of soaring inflation globally, minimizing operating costs for retailers remains crucial, as this represents a major cost in such companies’ financial reports. He recommended that this can be done by reengineering manual jobs and investing more in digital transformation.