A European based specialty chemicals company faced a change management dilemma. A five-year strategy to reposition itself in the market required optimizing its customer portfolio, implementing a new organizational structure, reducing headcount and driving down supply chain costs. However, the organization did not understand the strategy or accept the need to change from historical practices that had served the business well for decades.
Market Edge worked with the leadership and SBU teams to implement a change management program to drive performance. The program included pillars in
- Clarifying the vision
- Creating a sense of urgency
- Identifying the implementation priorities
- Embedding a performance management system
Market Edge provided multiperspective diagnosis (management, employees, customers and channel partners) first to identify strategic challenges that had to be addressed. Program Management was established to drive and communicate progress for three parallel initiative streams. A “line of sight” for each function and employee team ensured engagement and specific performance metrics. The strategy achieved its primary financial goals 2 years ahead of schedule.