Grundfos aims at developing a World Class Finance organisation. STRATEGOS facilitated a process that developed a high degree of internal alignment on the Finance strategy and enabled the Finance management team to increase quality and speed in the execution of the strategy in the global Finance organisation.
Heine Dahlsgaard, CFO, Grundfos:
“Our collaboration with STRATEGOS has afforded us a high degree of internal alignment and coherence in the Corporate Finance management team in relation to the Finance strategy and the Finance transformation journey. The process has helped us to create a shared commitment and ensured that the strategy makes sense in the local entities around the world. Ultimately, this collaboration has enabled us to increase the quality and speed of the execution of our Finance strategy and the strategic transformation of Finance in Grundfos”
Situation: A great Strategy but Limited Execution
Finance in Grundfos had developed a new strategy with an aim at transforming the Finance function into a World Class Finance organisation that would interact proactively with its stakeholders to provide insightful and timely financial services. After an initial period concentrated on corporate alignment and initiatives, it was time to focus on local/regional alignment and commitment in relation to the organisation’s global finance strategy and to begin local initiatives to support the overall direction.
Assignment: World Class Strategy Deployment
Reaching a World Class level in Finance would have a significant impact on the overall business results of Grundfos. STRATEGOS facilitated a process that enabled the Finance Management team to strengthen the internal alignment on the Finance strategy and to communicate the strategy with high impact to local Finance managers during a week-long seminar at the Grundfos headquarters in Bjerringbro, Denmark. The assignment included designing a tailor-made structure and process for the deployment of the Finance strategy in the global organisation, as well as training the Finance management team that would take on the different roles in the execution of the Finance strategy.
Results: Quality and Speed in Strategy Execution
The process ensured that the strategy makes sense in the entire global Finance organisation, and it also created a strong feeling of commitment to the strategy. This in turn resulted in a higher quality deployment of the global Finance projects due to local contributions and adjustments. Furthermore, the speed of execution of the Finance strategy was multiplied, primarily because of the many local initiatives that now point in the same direction — towards destination ‘World Class’. Thus, the collaboration between Grundfos Finance and STRATEGOS has developed a strong foundation for Grundfos Finance to reach its strategic ambitions and succeed with the strategic transformation of the global Finance organisation at Grundfos.
Grundfos in brief
Grundfos is a world leading manufacturers of pumps and circulators for pumps with a turnover of more than 22.6 billion DKK and about 18,000 employees worldwide. Read more on www.grundfos.com.