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Identified Need: A biotechnical firm transferred ownership and embarked upon a significant transition process. The new owner and new CEO were both determined to create a strong executive team deeply committed to the overall purpose and direction of the firm. The executive team was evenly divided between new members and veterans from the prior administration. In the process of redefining their core purpose and values, they wanted to begin the process of creating a highly effective executive team. BCG was asked to design and facilitate a process to help accomplish these critical objectives. Recommendation: BCG's first recommendation was to schedule a planning retreat with the entire executive team. The purpose was to engage in strategic conversation: assess organizational strengths and weaknesses, establish short and long term goals, and gain consensus on a new core purpose and core values. In addition, the retreat was designed to increase team relationships by having members learn more about each other, i.e. their backgrounds, expectations, values. Action: Prior to the retreat, all members of the executive team met with BCG. This activity was instrumental in learning each person's views of the organization, expectations, and to shape the agenda for the retreat. A multiple day retreat was planned and facilitated by BCG. The first activity was designed to have team members connect with one another regarding personal background, professional history, best and worst work experiences, "hot buttons," and expectations for themselves, team members and firm. The activity was based upon a BCG principle that "connection precedes content," meaningful conversation, including decision making, is greatly enhanced after individuals have an opportunity to learn about each other. A SWOT analysis (strengths, weaknesses, opportunities, threats) was facilitated in order to gain an understanding of current thinking about the firm. A brainstorming process was utilized, followed by an in-depth review of all the identified issues. This activity culminated in a ranked list of each of the SWOT components. From this list, the team was able to prioritize short and long-term plans, with specific action steps, reporting responsibilities, timelines, and measurable criteria. Lastly, the team participated in an intensive dialogue session in order to develop a new core purpose and core values. A core purpose is an organization's reason for existence, used to guide and inspire. A short statement, it serves as a perpetual guiding star on the horizon. Core values are the essential and enduring tenets of an organization, a set of timeless guiding beliefs, which should provide intrinsic value to members of the organization. Core values are not to be compromised for financial gain or short-term expediency. Through guided facilitation by BCG, the team was able to articulate their thoughts and feelings on purpose and values. Results: It was agreed that having the initial opportunity for team members to learn about each other through mutual sharing and discovery tremendously enhanced the conversation about purpose, values, and strategic issues. The work to develop the new purpose and values was accomplished in an atmosphere of mutual respect and inquiry. The team was successful in its' effort to redefine the core purpose and core values - a process that normally requires much more time. More importantly, the team's level of commitment was extremely high by virtue of their shared participation. The specific "content" objectives of the retreat were accomplished, specifically to create a plan to address short and long-term objectives as well as redefine a core purpose and core values. This information was shared with all associates in the firm and served to establish the new direction and spirit. In addition, the team members learned a great deal about each other, which contributed to their working together as a highly effective executive team. BCG continues to facilitate quarterly team meetings in order to ensure that policies and practices are aligned with values. These quarterly meetings also focus on team relationships to maintain heightened levels of communication, trust, and collaboration. BCG Services: BCG has considerable experience designing and facilitating
planning retreats. This includes opportunities designed to accomplish
specific results (i.e. strategic plans) or to use primarily as a means
of team building. In addition, BCG has unique capabilities in the creation
of an organization's core purpose and core values. Enduring, successful
organizations typically have a well-defined core purpose and core values,
used as a means to establish a unique and meaningful work environment
and culture. |