Nasdaq

Build leadership by implementing PSI’s Action Learning methodology

Client Background

Nasdaq, Inc. is an American multinational financial services corporation that owns and operates (and is listed on) the NASDAQ stock market and eight European stock exchanges. The Nasdaq Stock Market is the second-largest stock exchange in the world by market capitalization, and in addition to being a stock exchange, Nasdaq provides the infrastructure, technology, tools, and strategic insights tailored for the capital-market opportunities of today and the expectations of tomorrow.​

Nasdaq wanted to work on various strategic business problems and build leadership across the organization at the same time. The organization has a global change initiative designed to change the corporate culture, the way that they do business, and their corporate leadership style.​

Nasdaq tackled a variety of business issues by implementing PSI’s Action Learning methodology. PSI’s work with Nasdaq started in 2015 with a High-Potential Development program designed to develop Senior Leaders. In 2016, it expanded into a Mid-Level Manager’s Program as well.


Challenge 1

Nasdaq aimed to create a consistent customer interface through customer-facing member portals, website, and other applications throughout the organization. They strove for consistent security implementations, authentication methods, ​pricing strategies, efficiencies, and design.​

Solution 1

  • Implement product management best practices and an annual standardization applications assessment process​
  • Invest in Design Thinking and a Centralized Design Organization​​
  • Accelerate Nasdaq innovation process​

Challenge 2

Nasdaq had a goal of further cultivating sustainable organic growth within ​the organization. They wanted to improve the innovation process by:​

  • Optimizing existing growth​
  • Allowing time and providing venues to think about and reflect on​ innovative ideas​
  • Improving the certainty of success​
  • Reducing bureaucracy​
  • Becoming more technology focused​
  • Increasing collaboration

Solution 2

Created the Nasdaq Growth Model:​

  • Ideation – Create a culture of innovation, a structured corporate-wide approach to capturing and capitalizing on new ideas​
  • Selection and Development of Ideas – Create role of Growth Managers, new approach to screening of ideas, ​RBU innovation, and Corporate Growth Fund​
  • Execution – Create a new execution process

Challenge 3

Nasdaq wanted to ensure that its mergers and acquisitions integration process achieved or exceeded targets, supported its culture and values, and provided a competitive advantage and a driver of value. As they explored ​this organizational issue, they decided to provide:​

  • A better balance on how integrations are measured​
  • A flexible approach requirement for integrations​
  • Clear leadership at the outset​
  • Effective communication among all stakeholders​
  • A more thoughtful assessment of culture and brand during diligence processes

Solution 3

Created the Nasdaq Growth Model:​

  • Create and leverage a new – specific to Nasdaq – Integration Framework​​
  • Hire a Head of Integration and develop an integration team​​
  • Create and track relevant KPIs​​
  • Invest in – and train people on – new software tools to help with implementation​

Challenge 4

The Nasdaq Action Learning team was charged with researching whether a new operational model could ​better position Nasdaq for the future and support their vision of ‘Rewriting Tomorrow.’​

Solution 4

  • Create Growth Business Operating Model – Allow growth businesses to flourish by creating stand-alone capability ​for qualifying businesses​​
  • Drive client success – Establish a Chief Client Officer/Client Experience Officer (CXO) position​​
  • Know products to drive innovation – Empower decision making on product investments​​

Results

As a result of the robust Action Learning programs implemented by Nasdaq for all initiatives, the Action Learning groups:​

  • Came together as a team and doubled down on effort and focus​​
  • Improved virtual meetings and phone calls​​
  • Gave and received feedback on the project with ease​​
  • Achieved all goals​​
  • Improved their ability to ask questions and listen​​
  • Built confidence within the team​​
  • Developed leaders within Nasdaq​