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          Application to an Internationalisation Strategy     align the organisation around a new paradigm of suc-
                                                              cess; or a Strategy Head who can adopt a new integrated
          We believe that the approach that we have set out is per-  approach to strategy; or a Head of Sustainability/Im-
          fectly suited to developing and implementing an inter-  pact who can utilize new tools to create more positive
          nationalization strategy.
                                                              Impact.

          Why is that?                                        Of course, any Departmental or Divisional Leader can
                                                              embrace these new approaches and we believe that espe-
          Firstly, developing a true international business, rather   cially Heads of Innovation or Corporate Venturing can
          than exporting, requires a more detailed understanding   align their work with an integrated organisational-wide
          of the customers, competitors, markets and operating  approach to strategy that will help them to invent and
          conditions in the target location. And our Imagine Pha-  manage more value from their programmes.
          se, using our multiple insight lens, aids in that process.
                                                              Whatever level you are at or whatever the stage of ma-
          Secondly, the way that you do business in your home  turity of your business, we  rmly believe that this new
          location will not usually be transferable to the new geo-  approach can help to create and realise signi cant addi-
          graphy, so we need to carefully build our Strategic Do-  tional value for all stakeholders.
          mains and critically assess, ‘why is this a good strategic
          move for us?’ and ‘what does this bring di erently to the   ............................................................................
          new market and customers?’. Again, the use of Domain-
          -building tools is a crucial advantage.
           irdly, the development of a detailed Realisation Map
          with carefully designed, linked, activities aids in the
          overall thought process by considering ‘will this work?’,
          ‘what could we do di erently?’, should we partner, seek
          licencees, form a joint venture etc.?’

          Fourthly, adopting a philosophy of strategy as a conti-
          nuous journey will allow you to ‘course-correct’, to navi-
          gate to your ultimate goal, de-risking your expansion to
          ensure success in your new geography.


          Key Take-Aways

          We believe that all organisations can bene t from adop-
          ting our new approach to strategy and value creation,
          whether it be their CEOs / Business Leaders who can


          Nº  155 - Abril, Maio e Junho de 2023                                                              67
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