IPO readiness and fully fledged business transformation

The situation

One of the largest mall developers and operators in the GCC intended to file for an IPO. The client requested Strategy&’s assistance in assessing its IPO readiness, as well as our support in undergoing a full business transformation, including cascading its strategy into the detailed 2016 business plan; finding value through a detailed asset business plan of its flagship mall; designing the full operating model; and supporting implementation of the transformation for the first year.

How we helped

Beginning with a baseline of the client’s current portfolio, the team then articulated the corporate strategy, ensuring that senior leaders were aligned. To roll out the strategic direction, they assigned clear deliverables, KPIs, targets, and milestones for each department. A management reporting dashboard was developed to track and monitor performance; a detailed business plan identified several value creation levers and initiatives that were fed into the 2016 business plan; a new operating model addressed the gaps — through a new organization structure, more than 120 processes, delegation of authority, and policies for all functions.

Results

We supported the full implementation for a full year through a dedicated PMO and have been conducting semi-annual pulse checks on progress.