For over twenty years, Fulcrium has worked with many Fortune company board executives. In that time, the business environment has become more volatile and the primary need now is for sustainable initiatives to help create a balanced portfolio and drive corporate, business unit and functional performance. They also need to be flexible and able to realign as conditions change – which means constant evaluation of markets, and repeated benchmarking against best-in-class operators inside and outside their sector(s).
Probably the most infamous example is General Electric. Over-confidence in its ability to extend the brand into more and more diverse sectors led to near-disaster before, in August 2017, CEO Jeff Immelt handed over to John Flannery. In October 2017, Mr Flannery explained to investors how completely GE needed to decide what kind of business it wanted to be and how it could create sustainable value excellence:
“The benchmarking review of the company has been, and continues to be, exhaustive… We are evaluating our businesses, processes, [the] corporate [function], our culture, how decisions are made, how we think about goals and accountability, how we incentivize people, how we prioritize investments in the segments … global research, digital, and additive [manufacturing]. We have also reviewed our operating processes, our team, capital allocation, and how we communicate to investors. Everything is on the table … Things will not stay the same at GE.” https://fortune.com/longform/ge-decline-what-the-hell-happened/
Our benchmarking intelligence services provide hard data, facts and evidence upon which senior teams can base their most vital business decisions and deliver breakthrough performance improvements. If you like the sound of that approach, then contact us today.