Facing Growth Challenges in a Competitive Market
A global leader in life sciences faced increasing challenges in driving growth through conventional solutions and existing markets. Competitive pricing pressures were mounting, making differentiation difficult and contributing to declining profitability.

Requiring a Transformative Approach to Inspire Growth
The business unit team found it increasingly challenging to identify innovative pathways for growth, lacking fresh inspiration and actionable ideas to move forward. A transformative approach was required to reinvigorate the team and uncover new growth opportunities.

Unleashing Creativity Through a Global Hackathon
To address these challenges, the company organized a global hackathon, bringing together cross-functional teams to ideate and strategize. Using radical ideation methodologies and design thinking principles, the hackathon served as a catalyst for creativity and problem-solving. Participants explored innovative avenues for growth, leveraging new and distinct customer insights to define strategic opportunities.

Defining Bold Growth Options and Strategic Directions
The outcome was a set of bold, clearly defined growth options that aligned with the company’s goals. Strategic directions for where to play and how to win were outlined, ready for internal and external validation. The process not only uncovered actionable ideas but also energized the team with fresh perspectives and a renewed focus on driving profitability.

Harnessing Collaboration for Long-Term Success
This initiative showcased the power of collaboration and innovative thinking, equipping the business unit with a roadmap to navigate market challenges and seize new opportunities.