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Buttonwood VP Implementation
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Introduction |
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Led an effort to implement Buttonwood VP as part of a companywide
transformation effort.
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Description |
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Our client, a major manufacturer, had missed one to many earnings estimates and
wanted to transform its management team and culture into one that prized
accountability, follow through, and results. After evaluating several different
planning solutions, the project team chose to implement Buttonwood VP. Since
this company had not previously determined its key drivers of success and key
processes, that’s where we began. Examination of these measures then
became part of an offsite strategic review session, along with a SWOT analysis,
key competitor and key markets evaluation. Afterward, long term and one year
operating targets were established for each key measure, and initiatives were
developed to achieve them. This then became the basis for the budget.
Individual goals were established, and became the basis for performance reviews
and other incentive compensation. Management reporting systems were then
designed to monitor progress on each key measure and initiative (along with
standard financial reporting). A training program was designed to build
business literacy, and monthly huddle sessions were developed to keep everyone
well. |
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Results |
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For the first time in three years the company met its earnings
objectives, resulting in upgrades in the recommendations of several influential
stock analysts. Internal employee satisfaction survey saw the largest jump in
results since the company began collecting results five years previously.
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