Business Issue

An energy and natural resources corporation experienced significant leadership changes and initiated a new strategic plan. The corporation aimed to significantly increase its revenue over a five-year period, with the ultimate goal of becoming a $1 billion+ organization. At this critical juncture in its business cycle, the organization recognized the need for enhanced organizational capabilities to fulfill its challenging and complex objectives. The overarching goal was to build a sustainable business that would thrive for future generations.

Approach

Our assessment focused on the Board of Directors and the top-most leadership layers of the organization. To address their challenges, we conducted a comprehensive review of strategic and governance-related materials, which included:

1. Stakeholder Interviews: Conducted approximately 30 interviews with Board Directors, key leaders, former executives, and other stakeholders to obtain a full picture of corporate culture and identify areas of opportunity
2. Capability Mapping: Mapped both board and organizational capabilities against four key organization remits.

Business Impact

Through our strategic assessment, we developed targeted recommendations aimed at significantly enhancing the organization’s effectiveness:

• Recommendations were made to improve the Board’s ability to lead across its four key remits.
• Suggested formal changes in Board governance to improve decision-making speed and quality, enabling a stronger focus on strategy development and execution oversight.
• Advised changes to the organizational structure to better execute strategies across the four remits.
• Recommended that the Board and Organization Leadership exemplify their stated values and behaviors, ensuring alignment with the organization’s performance management and rewards programs.

To date, many of these recommendations have been implemented or are in progress, positioning the corporation on a trajectory towards achieving its ambitious revenue and sustainability goals.