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Joyce Corporation Limited (Joyce; ASX: JYC) is a fast-growing ASX-listed company operating and invested in well-established and consistently performing Australian businesses with strong growth potential.
Joyce approached Checkside in mid-2021 seeking assistance and guidance around reviewing and re-setting its strategic framework to establish a solid foundation from which to further develop and execute its strategic direction.
Checkside worked with Board and management over a series of management and board workshops in mid-2021 to capture and clarify the revised strategy and reposition the business to drive a clear focus on distinct markets and opportunities that leverage the core Joyce competencies and competitive advantage.
The engagement solidified a view around the fundamental “Why” for Joyce together with a renewed Corporate Vision underpinned by a clear Purpose and Values, coupled with a strong primary objective that resonates with both the Joyce team and the market.
This work also set the foundation for future growth by delivering clarity around the unique value proposition that Joyce presents which in turn allowed the board and management to focus on the “swim lanes” they should be operating in, and which potential growth and expansion opportunities should be pursued (and ignored).
Client Outcomes
The outputs from this engagement have since been adopted by the business and embedded into corporate presentation materials, company website and annual reports published by the company. A clear messaging platform has been established for both internal and external stakeholders which has set the scene for further maturation and deepening of the corporate strategy moving forward.
In summary, Checkside has helped to lay critical foundational work that will help Joyce to deliver on their primary corporate objective of driving revenue growth and delivering above average returns.
CEO Commentary
According to their MD and CEO Dan Madden “As a result of a management restructure and planned Board transition we wanted to bring a refreshed strategic lens to our business and engaged Checkside to assist with this process. Checkside played an invaluable and integral role assisting myself and the Board in the review and re-assessment of our Vision, Purpose and Values and our Strategic Direction.
As a result of the review, we have a renewed clarity around our purpose and identity and clear foundations for a strategic direction that seeks to take advantage of both our organic growth opportunities and to leverage our core Joyce competencies and competitive advantage in a focused and disciplined way.
Checkside understood the job to done and brought a clear appreciation of the nuances involved with being an ASX listed entity. Both myself and the Board enjoyed working with the Checkside team and appreciated and valued the insights, advice and facilitation provided throughout the review process which was delivered in a clear, open, honest and engaging way.”