One of the independent operating subsidiaries of a major Global conglomerate in the construction and related services field has been utilizing the MRI for Businesses methodology annually for the last five years.
At that time, the newly appointed CEO was challenged with a company that was losing money and struggling.
Based on the conglomerate’s metrics to gauge each of their 16 divisions and direct subsidiaries, his company ranked among the poorer ones.
A business friend recommended he use the CSI’s MRI for Businesses methodology as he did. He advised him that he thought it would be a good start as a basis for him to capture an overview of the strengths and weaknesses of the company that he was now responsible for.
BACKGROUND
PROCESS & ACTIONS
He received the report within four weeks of contacting CSI Diagnostics and agreeing to their process. He was amazed at how easy it was to get it underway, the fast response, and the resulting information.
The CEO brought his top management team together and shared the report with them.
In addition to understanding how his customers and suppliers rated them compared to the management and employees – an enlightening experience for the management team, the report identified his company’s overall weakness with several essential capabilities. Conversely, it also identified some strengths to build on. The weaknesses included issues with communications with their customers and suppliers and the management team’s effectiveness.
Based on the report’s specific areas, the management team brainstormed various solutions and selected a series of initiatives to correct them.
For the following four years, they repeated the process. Each time, they evaluated the impact of the initiatives they had undertaken and identified new capabilities that required improvement.
OUTCOME
In five years, the overall company score index went from 6.7 to 8,0 (out of 10). In addition, their sales increased from US$24M to $60M, and EBT from -1% to 6.7%. The CEO attributes his subsidiary’s success and improved customer and supplier satisfaction, in no small way, to the CSI-MRI for Business.
Since 2016 his subsidiary has been ranked by corporate as the highest amongst all 16.
The conglomerate is now using our CSI-MRI for Businesses methodology in four other subsidiaries and is considering instituting it in all their divisions and subsidiaries.
To see a real Case Study of a well-known company’s performance improvement over four years.
Initiatives to align all the stakeholder groups while improving multiple capabilities, including training and coaching actions.
Provided by the company, you will see the direct relationship between the methodology MRI and their profitability.