A company in the semiconductor equipment sector wanted to rethink its innovation strategy, priorities, and portfolio. Insulating its results from the cyclicality of chip making was one motivation. Enhancing its shareholder returns—which had lagged rivals—was another.
BCG and the client went through a four-stage process:
While the strategy is still in its early stages, initial results have been positive. The company has established itself as a major player in the space commanding a 45% share. The new life-sciences business continues to grow and now approaches 20% of the company's revenue. And the many new product and service opportunities in the life-sciences "cold chain" offer significant headroom for future growth.