Need
The Strategic Plan of a major pharmaceutical company Division was unfocused and not actively used to manage the business. This resulted in low goal achievement, low value-added work and ad-hoc coordination among departments. Improving the Divisional Plan had to occur within the overall corporate planning framework.
Actions
Built consensus among all function heads (VP's) to develop 5 key annual goals for the business and link these to focused, measurable objectives. Designed and facilitated a meeting with the top 50 executives to gain buy-in to the new Strategic Plan and address barriers to plan achievement. Planned, managed and facilitated roll-out of team and individual objectives linked to the Strategic Plan.
Results
- Achieved 300% reduction in the number of objectives.
- Significantly enhanced objective achievement.
- Developed broad cross-functional ownership of objectives, as evidenced by initiation of monthly management team meetings and formation of Operating Committee to review progress.
- Increased ownership of business Result through implementation of integrated Performance Management process linked to new Strategic Plan.
