What kind of culture enables disruptive innovation in a highly mature and extremely competitive market?
When an organization’s culture embraces success and failure, productive debate and open dialogue thrive, and new ideas emerge at all levels.
Situation
A high profile global leader in money management was planning the launch of a new line of exchange traded index funds for the retail investor market. A successful launch required establishing an organizational entity to deliver a new product outside of the traditional distribution channels, defining operating principles to meet the unique demands of the retail market, and integrating the business unit into an established organizational culture with brand and market presence. Most importantly, it required a cultural shift from consensus-based management, to an entrepreneurial and innovative mindset.
Challenge
Trium was approached to help the client accelerate time-to-execution through defining and aligning teams behind a shared mission and vision, a clear set of actionable operating principles, and the mindsets and behavioral shifts required to execute. The initial diagnostic confirmed challenges inhibiting the new team from reaching its ultimate potential – challenges such as structural integration of a new business unit into the organization, limited trust and relationship between leaders, and a divergence between old-school and new-school company cultures.
Resolution
Trium’s approach included a multi-day process with 20 members of the new leadership team, followed by iterative working sessions with a larger group of next-level leaders. Together with the client, Trium clarified and aligned leaders behind a new organizational vision, and defined what is required of each individual to enable the high-performance culture that is vital to its success.
Despite challenging market conditions, the client has since launched 42 new products, dramatically exceeding revenue and market penetration projections. Most importantly, the leadership team continues to operate with high levels of trust and relationship, and a cultural foundation that will support their future.
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