Case Study: Turning a Business Around
CLIENT: President of a $5B Business Unit within a Fortune 50 Company
SITUATION:
- After 3 years of negatively trending operating profits, a business unit was in need of a major turn-around
- A new leader with a strong reputation for operating discipline and collaborative leadership was brought in to lead the change
- We were already working with the leader and his reports to build a unified leadership team and define goals/strategies for driving a turnaround
OUR ROLE:
- Prepared the groundwork for mobilizing the next two levels of leaders in the organization, with a clear strategic plan, fiscal year initiatives and a set of shared leadership principles
- Brought together the top 100 leaders to deeply understand and embrace the strategy. The teams defined a collective BHAG and launched initiative teams with follow-through.
- Teams engaged in conversations and exercises which deepened resolve, embedded leadership principles and built connections across the team
- Defined mechanisms for maintaining accountability and momentum from the meeting throughout the fiscal year
RESULTS: The organization exceeded their 3-year Operating Profit BHAG (Big Hairy Audacious Goal) by 3x
- The broad organization came together with urgency and discipline to drive top goals and cross-functional enablers. They continued to track progress with similar meetings, facilitated by our team
- Internal changes, including organizations and programs, implemented successfully
- The BU continues to be a healthy, sustainable business and a role model for great leadership practices