Case study
The power of data
The problem
The problem for this FTSE100 company was the quality of the inputs to its decision-making. The information provided to the executive team was fragmented and often inaccurate. The organisational structure was based on highly specialised departments. The technical teams submitted information to the executive team without cross-departmental review. This approach was increasing costs and impacting profitability.
Approach
The objective was to change working practices to achieve more accurate and relevant data. This required greater collaboration among departments from the bottom up. The first step was to develop a shared purpose and language. We modified the team structure to require specialists to exchange and validate data. This could then be presented as a consolidated view to the executive team. In order to make the change sustainable, we changed the incentive structure to prioritise collaboration.
Outcomes
- 30% – time reduction of execs in decision meetings
- x2 time – faster time from start to decision required
- Cultural change – shared purpose and language
Conclusion
The shift towards greater collaboration meant that the subject matter experts discussed, challenged and validated the information more effectively thanks to a new shared language and working structure. The validation of information by experts across departments improved the speed of decision discussions. The changes had a positive impact on both profitability and company culture.