Designing and implementing new key leadership processes and practices to deploy a new strategy
A leading US financial services
institution was going through a rough patch in their attempt to launch a wholly new business line.
Although top management supported the initiative, the project had not moved forward with any momentum.
The product offering required the coordinated efforts of marketing, IT, and operations, and its complexity was increased by the participation of three other partner companies.
Coming from a culture of silos, the leaders of these functions couldn’t generate the conditions under which the project had any chance to succeed.
Their subordinates fell into the same pattern of bickering and finger pointing, being more consumed with looking for someone to blame for the failures than generating value for the company.
We were asked to manage the project to get the product launched, on time and on budget.
Through the incorporation of
commitment-based management practices, we brought leadership and
management practices to a core team of leaders within the company, who were in turn responsible for leading a
number of work streams that were established, and closely managed and monitored on a daily and weekly basis, to keep the project on track.
The leadership team followed a central structure of reporting practices and communication meetings, so as to keep everybody abreast of progress and occasional road blocks. These leaders and their teams were trained to be able to raise issues in an environment of trust and commitment to the end goal, where finger pointing and blame were a thing of the past.
The end result was a successful launch of the new business line, with a number of different products launched on-time, and with a team with a renewed sense of trust and commitment to the organization.
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