- Offerings:products, Solution, tools
A strong product portfolio equals success – and that requires clear thinking about what should be in your portfolio. Introducing the Churchill Cube, a game-changing product and services portfolio assessment tool.
Consider some of the most successful companies, and one thing they all have in common is a strong portfolio of performing products.
A focused portfolio taps into the competitive advantages an organisation offers, enabling it to grow and maximise shareholder value.
However even a strong portfolio that is largely successful, will find its overall impact quickly diminished by an underperforming product or stock.
“It’s a common issue. Our experience has found many organisations struggle to maintain the focus or critical review required for a portfolio’s good health. Too often, pet projects, products born from legacy strategy, and by-products of M&A activity, muddy the waters of a portfolio performance,” says Churchill’s David Prendiville.
The ability to critically assess your portfolio has the potential to unlock significant value. To support this, and create an unbiased data driven view, Churchill has developed a bespoke framework and toolset for portfolio review.
What it does
How is the Churchill Cube different? Our experience has shown that the success of a product portfolio assessment is ensuring the management team is interpreting the portfolio in the same way.
The Churchill Cube differs from other tools in that it looks to create an aligned view. Its unique value comes from its ability to take into account and map product nuances such as alignment to strategy, competitive positioning or the organisation’s ability to deliver the product.
It brings together rich product and market data, the latest practices in data visualisation, and tried and tested strategic frameworks.
Critically, it enables management to dynamically visualise how products compare against the wider portfolio across a range of criteria.
“Instead of one person with their own innate bias around products making decisions, you have an unbiased tool providing genuine clarity, that cannot be ignored. It doesn’t make the decision, but it does elevate the decision making,” says Prendiville.
How it works
See below how the Churchill Cube used to assess a fictional biscuit portfolio. Note how the relative importance of different criteria can be dynamically changed to gain a greater understanding of product performance.
Demonstration of the Churchill Cube
For our clients, the Cube enables an objective assessment of product portfolios.
Imdex, a leading international mining technology company with a diverse range of over 20 products recently undertook a product portfolio assessment using the Cube. As a result, management came to an agreement on several changes to their product portfolio. This was a significant step.
As one stakeholder commented: “We have known for years that we needed to refine our portfolio. The Cube enabled us to stand back, look at our portfolio and agree on what needed to change.”
Successful portfolio assessments enable organisations to redirect investment into the products and services that matter. Focused portfolios enable better market performance and help the organisation build capabilities aligned to strategy.