Over the last five decades, Lloyd Companies, based in Sioux Falls, South Dakota, expanded from a mom-and-pop shop property management company to a full-service real estate company that builds communities.
Organizations that expand dramatically often need help adjusting to the complexities that can isolate different departments or lines of business. Lloyd’s growth in size and scope meant it needed a new blueprint to operate and a stronger internal structure to support it.
Chief Executive Officer Chris Thorkelson took the helm when the Lloyd Companies co-founder retired. One of the first things he did was search for a system that could help maintain the increasingly complex business model.
Chris tried a few different models, having consultants come in to help with strategic planning, but they never ended up with actionable plans to achieve their goals. The strategic plans ended up being pretty words on paper that sat in a drawer all year. During annual planning, when the leaders reviewed the plan, they realized that if something had been accomplished, it was more out of luck than any purposeful actions.
In 2015, Chris learned about EOS from a CEO peer group and thought it could provide the missing processes and practical tools Lloyd Companies needed. He charged Chief of Staff Becky Word with properly implementing EOS throughout the organization.
So, Lloyd Companies began Running on EOS… or so they thought.
Check out their #RunningOnEOS story here: www.eosworldwi...
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