The document discusses the changes MAF underwent to transform its strategy and culture in response to shifting customer expectations, including establishing a leadership institute and school of analytics to develop employees, focusing on technology and data, improving organizational health, and enhancing the customer experience both online and offline. MAF grew from 20,000 to 45,000 employees from 2015 to 2019 by innovating, diversifying its assets across multiple markets, and accessing stable capital sources. Transforming the mindsets of thousands of employees to a more collaborative approach was a challenge but critical to successfully navigating an increasingly digital and complex business environment.
The document discusses the changes MAF underwent to transform its strategy and culture in response to shifting customer expectations, including establishing a leadership institute and school of analytics to develop employees, focusing on technology and data, improving organizational health, and enhancing the customer experience both online and offline. MAF grew from 20,000 to 45,000 employees from 2015 to 2019 by innovating, diversifying its assets across multiple markets, and accessing stable capital sources. Transforming the mindsets of thousands of employees to a more collaborative approach was a challenge but critical to successfully navigating an increasingly digital and complex business environment.
The document discusses the changes MAF underwent to transform its strategy and culture in response to shifting customer expectations, including establishing a leadership institute and school of analytics to develop employees, focusing on technology and data, improving organizational health, and enhancing the customer experience both online and offline. MAF grew from 20,000 to 45,000 employees from 2015 to 2019 by innovating, diversifying its assets across multiple markets, and accessing stable capital sources. Transforming the mindsets of thousands of employees to a more collaborative approach was a challenge but critical to successfully navigating an increasingly digital and complex business environment.
The document discusses the changes MAF underwent to transform its strategy and culture in response to shifting customer expectations, including establishing a leadership institute and school of analytics to develop employees, focusing on technology and data, improving organizational health, and enhancing the customer experience both online and offline. MAF grew from 20,000 to 45,000 employees from 2015 to 2019 by innovating, diversifying its assets across multiple markets, and accessing stable capital sources. Transforming the mindsets of thousands of employees to a more collaborative approach was a challenge but critical to successfully navigating an increasingly digital and complex business environment.
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_*Summary:*_
Introduction:
what and how they worked
why was the customer expectation changing What was MAF’s existing strategy and what they focused to change
Entrepreneurial mindset:
New ventures, Majid’s first large scale mall of 85$ million investment Sole shareholder of MAF group Nor executive position neither in BOD
The case of change:
Customer orientation and expectation were changing
Majid’s step towards catering this change, steering committee Cultural transformations, rewiring the organization
The leadership institute:
MAF leadership model Exhibit 5
Leadership institute: induction and leadership development Exhibit 6
Performance Management:
Performance metric Exhibit 7a
universal “good” performance rather each employee has its own meaning/understanding of “good” performance sample employee KPI table Exhibit 7b guidance on how to evaluate employee performance
The school of Analytics and Technology:
MAF excels in building malls, hotels etcetera but customer is changing to online introduction of technology need to be prominent digitally same as physically 60-person team formed, named center of excellence, focus in tech, data and analytics agenda
Think Group:
People weren’t realizing power of organization
top 5% were conduction business on their own Little changes, group sharing platform, workplace, retail server to group server Choosing to work with other MAF companies rather than external firms different key performance indices KPIs
Organizational Health Index:
MAF’s OHI survey in 2015, score was 57, in bottom third quartile lacked leadership, accountability, and capabilities 65 in 2016 71 in 2017 progress on communicating the group’s vision to the whole organization. focus on innovation instead of operational and financial discipline 74 in 2018 more improved OHI authoritative style still dominant but shift toward consultative and supporting styles
Focus on customer experience:
Environment changed radically
technology intervened, shift to digital era Mitchell explains: service, ambiance, the food, the team , these combinations make MAF projects different from watching Netflix at home or having same rides of Disneyland in other theme parks Carrefour introduced scan & go tech in 12 out of 15 markets comparison to Ali Baba’s family mart, all u need is an app. Whether online or offline, its your wallet and all-in-one app. a platform made for data collection and maintaining customer relationship data from across group
Looking forward / conclusion:
45000 employees in 2019 compared to 20000 employees in 2015
diverse assets, business across multiple markets requires access to dependable, stable, and diversified sources of capital. Innovation is required, todays’ idea has a shelf life of 3,4 years. Meanwhile generate new idea innovating the existing Changing mindset of thousands of employees was not an easy task old top-down approach changed to grass-root, bottom-up approach, complexity in taking a decision, ask one then to discuss with other then get approved from other created complexity and speed Is critical
Assignment:
1. Introduction (AI) 2. Changes:
i) Customer expectation and entrepreneurial mindset of Majid (SM)
ii) Leadership and performance metric (MAF) iii) Technology and think group (SAK) iv) Organization health index and customer experience (KS)
