Developing a Successful Long-Term Business Strategy
Industry:
Corporate Social Impact
Offering:
Strategic Planning
Challenge
The Lowe’s Foundation was a local Charlotte-based philanthropy with multiple focus areas and one annual fundraiser with vendors. Board members wanted to have a greater impact from their giving with a bold multi-year goal and additional fundraising opportunities throughout the year. The Foundation needed to understand what they were known for, how they could have the biggest impact and align board members around a single vision.
Approach
Conducted competitor benchmarking research
We reviewed and summarized competitors’ CSR and Foundation strategic positioning, focus areas, organizational structure, financials and recent external visibility, including earned and social media activity.
We reviewed leading corporate foundations and compiled industry best practices.
Fielded research to understand baseline awareness and opportunities for the Foundation
- We conducted quantitative research with the national general public, Charlotte area general public, Lowe’s PROviders and community college administrations to understand if stakeholders were aware of the Lowe’s Foundation, what it was known for and what gaps could be filled.
Visioning workshop with Foundation board members
- We conducted stakeholder interviews with board members and other key internal stakeholders to gather perspectives confidentially on strategic direction, focus areas and opportunities for the foundation going forward.
- We facilitated a half-day interactive workshop with the board to review research findings and align around strategic vision, desired outcomes, key priorities and operational needs.
Results
- Benchmarking research with both an executive summary and detailed findings
- Summary of fielded research findings
- Summary of stakeholder interviews
- Onsite executive workshop facilitation
- Summary of key takeaways and next steps from workshop
