Alcoa is a US-based leader in the global aluminum industry, with 2014 revenues of $24 billion. In 2010, we helped the President of Growth (a new business group created by Alcoa in 2009) identify opportunities for sustainable growth using new business models
We identified Alcoa’s growth challenges, existing business models, approach to innovation and planned two workshops with group presidents, CFO, CTO, VPs, and presidents/directors of Bus. During the first workshop, we identified twelve new business model innovation opportunities for sustainable growth. During the post-workshop phase, we worked with Alcoa’s leadership teams to define the business models and build the business case for the initiatives. During the second workshop, we helped Alcoa’s leaders select and strengthen the business case for four new business models in waste to value creation, new materials, new structures, and product recycling.
Impact of selected initiatives estimated at “several billion dollars” in incremental revenue by 2013.