As part of the Fiat Chrysler Automobiles group Maserati is one of the world's most iconic automotive manufacturers, rich in tradition and sporting successes. The head of HR, Finance and the European Sales Director recognised the need for their teams, which are spread across multiple sites across Europe, to develop their commercial acumen, the inter-connectivity of their actions to the business profitability and the and the importance of multi departmental collaboration.
Solution
To provide a sound basis of knowledge to executive education level and an opportunity to put into practise their new-found knowledge in a competitive, dynamic and challenging business simulation.
It was recommended and agreed that our successful executive workshop would incorporate and cross map the key deliverables of:
- Strategy
- Financial Statements
- Team Collaboration
The participants would be applying this knowledge through adopting the role of a senior team who will need to discuss, prioritising, agreed objectives whilst formulating a strategy which will be implemented within a dynamic global market during a 2-day programme.
The complexity of the simulation required to be stretching, stimulating for the 2 days and be able to provide an immersive environment to facilitate the long-term impact on the training.
On day one the participants took part in a series of engaging “lecturettes” and commenced the first of 4 trading cycles of a global business competing against the other teams in the room in a true “head to head” commercial market.
After each business cycle, financial period an in-depth group feedback was delivered providing not just the results but also importantly coaching in how to improve performance as measured by a balance scorecard, these KPI’s include: Company net profit, R&D Investment, Product rating, Brand rating and Human Resources.
The teams also receive feedback against their individual team’s performance against their strategy statement and objectives.
In addition to the group feedback the facilitator provided a “consultation” to teams during the trading cycles to assist their individual development and the team’s performance.
All participants were asked to provide feedback through an anonymous survey. The responses included:
- “I'm in charge of a Technical role and this experience opened my mind in Company areas I never touched in my working experience. Really great Teamwork experience.”
- “I feel I've got a better understanding of the overall business.”
- “I learned a lot by working next to the colleagues of different areas and we taught each other the best way to react to a changing and challenging market (everyone with its own logical / technical inputs). I increased my soft skills abilities, and this will be surely helpful in my working experience in Maserati.”
- "The teacher has always been clear and answered our questions by giving right explanations and good advises. lessons have never been boring."
Participants were asked to list the 3-key point that they learnt from taking part in the 2-day programme.
The responses included:
- Team Working and the capability to lead others
- Share the point of view and to be able to apply yours after a discussion
- Support the other with my own skills and contribute to final decision”
- Time management is very important and difficult, right data collection is very important within the proper timing
- Focus on objectives
- Working as a team”
- Team building
- Decision-making skills
- Strategic orientation”
- How Important is sharing information across the business units of the company
- How important is to have a coherent strategy among the different areas of the company
- How cross-functional teams are more efficient”
- I'd definitely recommend this training to every colleague who aspire to become a Senior Manager in the organization