Redefining the Role of Corporate Development
Industry leader in metal processing and recycling
Our client, a global leader in metal processing and recycling, wanted to clarify the future role of its Corporate Development function. This function had been instrumental in shaping an ambitious new strategy, but its future focus and orientation had to be reviewed and reshaped. The company engaged us to help define how Corporate Development could best contribute to the achievement of the company’s purpose and strategy.
Through stakeholder dialogues and a two-day workshop, we helped affirm the department’s role in business development, advisory and governance, clarifying the mandate to focus on long-term strategic growth and support business operations without becoming too involved in day-to-day execution. The result was a clear and strengthened role that has enabled the company to stay ahead of industry trends and successfully deliver on its strategy.
Corporate Development Function at a Crossroads
A global metal processing and recycling company, with several thousand employees and annual revenues of more than 10 billion, had just launched a new strategy. The Corporate Development department, instrumental in redeveloping and communicating this strategy, now faced uncertainty about how to continue adding value. While highly recognized for their strategic acumen, the department was confronted with several key challenges:
- After management and structural change the department was looking for reshaping its focus and way of working
- Different expectations from the executive board and key stakeholders required clarification of demands and deliverables on the department.
- Efforts to transition from strategic governance to a more hands-on role required close cooperation from operational business units.
- In an attempt to demonstrate trust, the function had the challenge to navigate its role between steering and monitoring as well as cooperating, without weakening its influence on strategic direction.
Engaging Stakeholders to Define a High Impact Corporate Function
To help the Corporate Development department clarify their future role, we conducted a series of in-depth dialogues with the Executive Board and key stakeholders. These conversations provided critical insights into the department’s strengths and areas for improvement. More importantly, they revealed what the company needed most from Corporate Development to successfully implement the new strategy.
The entire department participated in a two-day “Fit for the Future” workshop, where we guided them in gaining a clear understanding of evolving business needs. Using our Center of Excellence Matrix, the function reassessed its focus areas and refined its position as a value-adding center within the company. This process enabled the department to realign their role with the company’s strategic direction and purpose.
Core elements of our approach included:
- Conducting stakeholder dialogues to uncover critical business needs.
- Analyzing stakeholder feedback to derive hypotheses about the department’s future role and build trust within the business.
- Facilitating the creation of a purpose statement, collaboratively developed by the department's employees.
- Using the “Center of Excellence Matrix” to evaluate options and clarify the department’s most effective role going forward.
- Developing actionable prototypes to operationalize the new role and test these solutions with stakeholders.
Strong Strategic Governance Enabling Operations to Deliver Results
As a result of this project, Corporate Development’s governance and advisory role was affirmed and strengthened. This provided the department with a mandate to focus on the company’s long-term evolution and growth. By monitoring and providing a point of view on both current and future strategic capabilities, Corporate Development is positioned to steer the company towards sustained success.
Through this process, it became evident that empowering and trusting the operational side of the business to execute the strategy was essential. While Corporate Development will remain a valued source of strategic expertise and perspective, its role will focus on driving, guiding and overseeing strategic and business development, rather than hands-on involvement in operations.
Key outcomes include:
- The department’s governance and advisory role now gives it the authority to focus on long-term growth and innovation, ensuring the company stays ahead of industry trends.
- Corporate Development is tasked with monitoring strategic capabilities, while empowering business units to operationalize the strategy.
- By remaining a strategic advisor, the function supports sustainable growth without becoming overly involved in day-to-day operations.
- The company is on track to achieve its strategic goals, balancing both operational execution and long-term vision.
To learn more about our work, contact us at info@orgdesignworks.com