Soitec reshapes future for growth
How do you radically reposition after an industry collapse? Soitec has tripled revenue and profitability with Accenture’s Business Futures approach.
With the collapse of the solar energy industry, declining revenues and an unclear vision for product definition, Soitec had to reposition.
The company shifted its focus to the growing semiconductor market of engineered substrates and wanted to define a five-year blueprint to create a bigger and stronger Soitec. However, leadership was unsure about Soitec’s future goals and what was needed to accomplish them.
The first step was getting everyone on the same page. The CEO wanted an external perspective, both to align the management team on a future vision for the company, and to help identify Soitec’s most promising future growth opportunities.
Accenture applied its Business Futures framework to guide Soitec’s strategic planning process, helping the company identify where to play, what to disrupt, and how to win.
In a series of workshops, the team defined a new vision for Soitec around four "must-win battles".
Winning these battles would be key to Soitec’s ability to achieve its vision, and meet its ambitious revenue, market share, and profitability goals.
Armed with an aligned management team, a vision for the future and a roadmap to get there, Soitec now has the vigor to make decisions that have short and long-term strategic impact.
They have the confidence to make the right moves and investments to significantly extend and grow the business. This is especially true for mergers and acquisitions, a key growth lever.
Through joint ventures and portfolio expansion, as well as strategic new wins and the strengthening of relationships in key markets, Soitec is building a bright future.
The company is seeing 30% year-over-year growth and has tripled its revenue and profitability.