Product strategies that responded quickly to COVID-19, allowing innovative education solutions and service delivery for members
Terem worked closely with AICD’s education and service delivery teams to produce two product strategies that addressed core challenges. The recommendations will allow AICD to continue delivering value to their members and company directors well into the future.
The Australian Institute of Corporate Directors (AICD) is a not-for-profit organisation setting the global benchmark for governance education, insights, and practice for their diverse community of members and company directors.
Their two main product offerings are governance education courses and service delivery.
- Educational courses are delivered virtually and face-to-face for aspiring, current, and retired directors.
- Service delivery covers more than 45,000 individuals across business, government, and not-for-profit sectors.
AICD is currently undergoing a major organisational transformation due to COVID-19. The education and service delivery businesses have had to quickly pivot to a new business model centred around online learning and development. As a result, there were several internal and market challenges that needed to be addressed.
- The two product strategies needed to be developed rapidly within a timeframe of 3- 6 weeks.
- Limited qualitative and quantitative data meant the teams needed to formulate hypotheses and prioritise key workstreams. Using this understanding, the Terem and AICD teams were able to collaboratively ideate and form a set of recommendations and strategic pillars.
How Terem Helped
Terem worked closely with AICD’s education and service delivery teams to deliver two product strategies. Throughout the process, Terem gave AICD staff a platform to voice their vision and concerns and identify where they believed there were opportunities to be had. Terem formed close partnerships and a deep understanding of the organisation, which allowed both parties to raise challenging questions and showcase ideas.
Together, the teams co-designed solutions to address core challenges and ensure future sustainability, addressing:
- The current state of both products, including the value proposition for customers, financial performance, existing offerings in market, and internal and market challenges.
- The future opportunities for both products, including the vision, key strategic pillars, tactics, enablers, and metrics.
- The technical and non-technical requirements to bridge the gap between the current state and future opportunities, including a high-level roadmap.
The Solution Terem Delivered
The collaborative process that Terem led ensured staff across the organisation from a variety of teams and levels of seniority had input into the product strategies. The resulting learnings were presented to AICD’s Executive Committee along with a series of recommendations that generated real value to both customers, and the businesses alike. Both presentations were well received by the Executive Committee, generating thoughtful discussions. These strategic recommendations will allow AICD to continue innovating and delivering value to members and directors.