Growth Strategy Workshop Facilitation for Raya Corporation, Egypt.
About Raya Corporation: Based in Cairo, Raya Holding was established in 1999 when 7 leading IT companies in Egypt decided to merge together to create the Middle East’s largest computer information technology company. Today it is the parent company for ten up-and-coming lines of business, Raya Holding operates in the fields of information technology, data center outsourcing, contact center, smart buildings, consumer electronics, social media development, food and beverage, land transport and PET re-manufacturing. Raya Holding shares are listed in the Egyptian Exchange (EGX) since 2005. It employs 6,500 across a wide international customer base from offices based in Egypt, Saudi Arabia, UAE, Qatar, Poland and Nigeria.
The Challenge: Not satisfied with organic growth in its home or adjacent markets, the Chairman of Raya Holdings set a target to double revenues and improve profitability by 2022. This growth challenge was compounded by the continuing political and economic uncertainty of its home market and the wider Middle East. It was clear to him that he needed to focus and galvanise the leadership & management teams on seeking radical change, both to what they do and how they do it. It was also clear to the Head of HR that without educating & engaging senior managers in the process, there was no way it could be achieved. And they recognised they needed to look externally for best practice strategic framework, market data and tools to ensure everyone could participate, and not just as individuals, but working collaboratively.
The Solution: For the first time in its history Raya Holdings hosted a Vision Workshop for its Board and the Boards and management teams of all its member companies, approximately 70 in total. They engaged Frost & Sullivan to apply their Mega Trends research to help Raya identify the emerging growth opportunities with the best potential to meet its growth targets for the next 5 years. With this as the base, we then worked directly with the Board and MD’s of the member companies to assess the impact, risks & actions and outline an initial Vision and Roadmap to 2022 for each company, identifying key roadblocks and critical short-term decisions essential to success. We then consolidated the results post-workshop and combined with new research data to present back to the Chairman and Board as the foundations for the Vision and its formal review and adoption.
The Impact: This project was a first for Raya and signalled a step-change not only in its strategy, but the way strategy is created. It also signalled a change in its culture. Led by the Head of HR, the project was a deliberate attempt to create a more open and engaging culture for all its senior managers to participate in the strategy formulation process, rather then simply be responsible for its delivery. Feedback clearly indicated that though challenging, this was a huge success enabling them to see further and rise above the operational issues that absorb their days. This was only the beginning of the journey for Raya but it did demonstrate the ambition for growth and a willingness to transform to achieve it.
Tools Used: Frost & Sullivan Mega Trends and Macro to Micro Analysis, option evaluation grid, CEO workbook, real-time voting, analytical decision-making, large group facilitation…