Beyond sustainability in the plant-based food market with Nilofer Ahmed
In January 2021, Nilofer Ahmed, Director of Business Strategy for Motif FoodWorks, joined co-hosts Adam Presslee and Nancy Vanden Bosch for a Performance Management in Practice event. Watch the interview highlights below to learn about strategy and the opportunities and challenges in the plant-based food market.
Interview highlights
Where Motif FoodWorks fits in the market
A B2B company on a mission to find technologies that dramatically improve the taste and texture of plant based foods.
One of many definitions for strategy
Note the benefits and risks of defining strategy as a set of guard rails.
How strategy is changing – more collaboration
Why a joint venture between Pepsi and Beyond Meat is just one example of many collaborations between large companies and start-ups we should expect in the plant-based food market.
Beyond sustainability to taste and cost
“People who are in the early adopter phase are willing to compromise on taste. They're willing to pay more because it meets their values, but if we want it to be a broader movement, it has to address the taste and cost concerns that have been brought up.”
The influence of Gen Z on buying habits
“Gen Z drives their households’ purchase habits more than we expected.”
Data sources to use in monitoring trends
The importance of using a variety of sources from social listening to sales data and interpersonal networks.
Final thoughts – how start-up strategy differs
“Motif was interesting because when I joined the company, it only existed for 3 months. And so I was number 12 at the company. So then it wasn't even about a pivot. It was about what is the strategy?”
Acknowledgements
The Performance Management in Practice series is sponsored by the CPA Ontario Centre for Sustainability Reporting and Performance Management. Thanks to CPA Ontario for its support and to the students who joined the event for their great questions.