Bittium has been able to grow significantly in recent years. Now they aim to secure continuous growth though a strategic transformation. Recognizing that most transformations fail, Bittium’s leadership puts focus on strategy execution – and that’s where Trailmaker came in.
Bittium’s CEO Petri Toljamo thinks that Finnish companies lack ambition when it comes to growth.
“If we consider small and mid-cap companies, only a few percent of owners are seeking high growth. And if we compare ourselves to, for example, to Sweden, their productivity is three times higher. Finland hasn’t produced many unicorns either. This because of the way we approach growth.”
Bittium is a Finnish technology company that has succeeded in doubling its business in recent years. But Toljamo doesn’t take the company’s success for granted. To sustain the upward trajectory, Bittium is executing a strategic shift toward the global market.
“At Bittium understand that you have to be different. You have to go after opportunities and increase the time and speed in your operations – if you want to achieve strong growth.”
Toljamo’s plan is to create Bittium 2.0.
“We are making a strategic shift to become an international, product-led company. We are turning our focus from engineering and R&D to customers and market demands. We are seeking 20-30% annual growth.
“We are making a strategic shift to become an international, product-led company. We want to turn our focus from internal engineering and R&D to customers and market demands. We are seeking 20-30% annual revenue growth and 10-20% operating profit levels, and our strategic theme is accelerating international growth.”
Petri Toljamo, CEO of Bittium
Strategy Execution Remains Critical in Favorable Markets
As an experienced business leader Toljamo is well-aware that most strategies end up failing. He says it’s not due to the strategies themselves, but rather because of how they are led. That’s why Bittium is focusing heavily on strategy execution.
“Execution as well as the leadership and management have to be right. We want to make sure that we proceed according to our plans”, Toljamo says.
There is currently a strong market demand for Bittium’s Defense and Security solutions, but Toljamo says that it is not a reason to become complacent.
“The market dynamics are playing our favor, but they do not wait for us. We have to be on the driver’s seat and accelerate growth. We also have to be able to scale and to serve our customers at their pace.”
That’s where Trailmaker came in. Bittium utilized Trailmaker to support strategy execution and to help them pursue immediate movement towards change.
“We are utilizing Trailmaker to support the execution management towards set goals in scaling Bittium’s business.”
