· Customer insight and foresight relate primarily to a revenue growth strategy.
Interestly, customer insight also predicted higher employee satisfaction and retention.
· Competitor insight relates primarily to a market share and profit growth strategy.
· Competitor foresight and peripheral vision relate primarily to a new product/service innovation strategy for growth.
· Empowerment is important for driving customer satisfaction and innovation.
· Cross-function collaboration is key to developing innovative products and services (through customer-centred focus).
· Strategic alignment is key to value proposition delivery to customers.
· Peripheral vision was an important driver of innovation and employee retention.
For each of the performance outcomes (profitability, profit growth, sales revenue growth, customer satisfaction, new product success, innovation and overall performance) the MRI™ factors combined to predict between 18% and 29% of variance in performance ratings.
While some factors (e.g., Collaboration and Strategic Alignment) are predictive of most outcomes, others (e.g., Customer Insight, Competitor Insight) are predictive of several and still others (e.g., Customer Foresight, Competitor Foresight, Peripheral Vision) are predictive of only one or two outcomes.
One MRI™ factor (Strategic Alignment) predicted all eight performance outcomes significantly. Cross-functional Collaboration predicted seven performance outcomes, while the other five factors combined to predict one or more of the performance outcomes. In sum, all of the performance outcomes are predicted by some combination of the MRI™ factors.
The image below shows how each of the dimensions drives key business performance outcomes:
