In a brief interview with Robert S. Budd, CEO Family Residences and Essential Enterprises (FREE), explained how he initiated a “reculturing” of his entire organization starting in 2008. With a staff of 1,500 and revenues in excess of $70 million, FREE had a casual “Mom & Pop” atmosphere with a focus on programs not on clients or business management. Using the Stephen Covey concept of Managerial Leadership, Budd is transforming his organization to be individual-focused with an eye toward developing a strong business mindset. Since the process began four years ago, FREE has entered into partnerships or acquired 15 organizations. In evaluating these partnerships, Budd looked for shared core mission, similar values and vision, and a cultural fit with staff. In fact, he did not move forward with several organizations as they did not meet his criteria. Each entity added value in program delivery as well as from a business development perspective. Budd said, “Don’t be afraid to learn from your partners. They may have a solution to an issue that woke you up at 3 o’clock this morning.”
Budd recommends for partnerships to work, both organizations must:
- Share core mission
- Have similar values and vision
- Have a cultural fit
Hear Robert Budd speak on Collaborations and Partnerships at the NESC Workshop on November 14th. Register here.