This was a big week for us. Many presentations; Lars-Henrik, Nova team, Elin and Jonas.
Lars-Henrik's presentation was a very practical/operational Nova business approach. Inna and I worked on a similar approach as LH, but we chose not to present because it was very operational. And in my experience this project has been more of a consulting approach. I wish we had presented because as LH mentioned our presentation was more management consulting than practical business model.
Nova team meeting - Exactly what I've been talking about. We (Nova Global) still doesn't have a strategy how they will get everyone involved when expanding globally. It is hard for the current Nova employees to wrap their mind around to what will happen once we go into 1 or more markets in the fall. A top to bottom strategy is needed as soon as possible. How will the current three hubs collaborate with the HQ and the new hub(s)? How and who will approve certain new values/mission/principles, strategies and more? There a lot more questions raised after talking to the Nova team. It's common for them to resist changes, but not having a strategy in place how these changes will be applied makes it even worse.
Meeting with Elin confirmed me that we are on the right track with the expansion strategies. Her work was not strategic and she looked at markets without a clear 'why'. She talked to professors and students at top schools. Thing she found and we have included in our strategy:
- Don't go into markets such as US, India, Germany. They have very strong and structured recruiting and school career offices. There is no need for Nova there as of right now. Maybe later.
Last week I realized we are too late with our work, and we are no where to being done. There are so much more missing for the strategy and toolbox that we won't be able to finish by next week. We will work hard and see if we can at least put everything together so it makes sense in the end.
Stay Fabulous!
Ella
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