Tool Description 360° - Stakeholder Feedback

Transcrição

No. 101
A Scenario-based Approach to
Strategic Planning
Tool Description –
360° Stakeholder Feedback
Torsten Wulf, Christian Brands, Philip Meißner
July 2010
An analysis conducted by the Center for Scenario Planning
at HHL – Leipzig Graduate School of Management
HHL-Arbeitspapier
HHL Working Paper
No. 101
A Scenario-based Approach to
Strategic Planning
Tool Description –
Torsten Wulf, Christian Brands, Philip Meißner
ISSN 1864-4562 (Online version)
 HHL – Leipzig Graduate School of Management
1. Introduction
In this paper we describe the second-stage of our six-step scenario-based approach to
strategic planning, the perception analysis. Having defined the scope and overall frame of
the scenario-based strategic planning project using the ‘Framing Checklist’ tool in the first
step, this part shall identify and challenge existing perceptions and mental models of all
participants involved in the planning process using the ‘360° Stakeholder Feedback’ tool
(Figure 1). The overall goal of the perception analysis and its ‘360° Stakeholder Feedback’
tool is to identify a comprehensive list of influencing factors that specify and shape future
developments. Of particular interest in this context are so-called ‘blind spots’ and’ weak
signals’. Before explaining the ‘360° Stakeholder Feedback’ tool itself we will examine what
influencing factors, blind spots and weak signals actually are and how these can help a
company to improve scenario-based strategic planning processes.
Figure 1: Six-Step Scenario-based Approach to Strategic Planning
1
1. Background Information on Existing Perceptions, Blind Spots and Weak
Signals
Companies find it demanding to identify and include basic signals about future developments
and challenges in their existing, often static strategic planning processes. Even the
identification and processing of clearly visible future developments is often hindered by a
company’s existing mental models and perceptions1. This can for example be a competitor’s
public announcement of constructing a new factory and thus significantly increasing an
industry’s production capacity indicating a possible future price war. Hence blind spots can
be described as developments that a company knowingly or unknowingly oversees while
weak signals can be described as first indicators for future changes in the environment2.
A major task in any strategic planning process is thus to challenge existing perceptions and
to identify blind spots as well as weak signals in order to effectively and efficiently detect
future chances and risks at an early stage. Existing tools for identifying future changes that a
company might face, such as operative forecasting or strategic forecasting, are generally not
able to perform this task very well3.
Discontinuities do not suddenly develop. Every discontinuity has a certain historical
development and is often announced through previously described weak signals4. Weak
signals proclaim changes in proven business models or even economic principals. They are
triggered by human behavior. Humans have a basic need to communicate their intended
actions, insights and findings especially when these are applied to change existing
structures or systems. Other humans pick these insights up and continue to communicate
them to a wider public meaning they become weak signals5. There exists a wide range of
sources for identifying such human behavior and hence weak signals including the press,
books, databases, the internet, exhibitions, clients, suppliers, competitors, politicians etc.
1
See Welsch, C. (2010), p. 30. See Wulf/Meissner/Stubner (2010), p. 17. 3
See Krystek/Moldenhauer (2007), p. 105. 4
See Ansoff, I. (1975), p. 23. 5
See Krampe, G. (1985), p. 359. 2
2
Strategic planning tools should therefore systematically and constantly scan internal as well
as external information looking for weak signals, blind spots and resulting discontinuities6.
Companies and their organizational systems thus require a methodological support for
challenging existing perceptions, identifying weak signals as well as blind spots and
channeling these in a structured manner to decision makers in order to be included in
strategic planning processes. We believe the ‘360° Stakeholder Feedback’ tool described in
the next section is capable of fulfilling this task.
Description of the ‘360° Stakeholder Feedback’ Tool
The ‘360° Stakeholder Feedback’ tool gathers as well as manages weak signals and
identifies blind spots. The specific goals of the ‘360° Stakeholder Feedback’ tool are to
establish a comprehensive list of factors that potentially influence the future of a company,
evaluate these factors according to their potential performance impact and their degree of
uncertainty and benchmark perspectives of different stakeholder groups concerning these
influencing factors7. In general, the ‘360° Stakeholder Feedback’ tool comprises a two-step
survey process (Figure 2).
Figure 2: 360° Stakeholder Feedback Process
6
7
See Liebl, F. (2005), p. 128. See Wulf/Meissner/Stubner (2010), p. 17. 3
In a first step, survey participants are asked open questions concerning influence factors that
currently and in future will shape an industry’s environment. Additionally, participants are
asked how these influence factors can be measured using existing indicators (Figure 3). The
exact focus of the survey has been defined in step one ‘Definition of Scope’ of our six-step
scenario-based approach to strategic planning using the ‘Framing Checklist’ tool. The
questionnaire is structured based on six dimensions namely political, economic, societal,
technological, ecological and legal influence factors (PESTEL). Factors from the company’s
macro-environment are selected because they are very relevant for shaping the company’s
future development and usually cannot be influenced by the company itself. Upon
completion of the first step the influence factors of all respondents are clustered and
synthesized by the questionnaire-administrator according to common features, e.g. number
of citations of a specific influencing factor.
4
Figure 3: Scenario Planning for European Airline Industry–Network Carriers 1st Round
Questionnaire
In a second step, the grouped and synthesized influencing factors are again send out to the
survey participants in a closed questionnaire (Figure 4). This time, participants are asked to
rate each factor in terms of its performance impact and uncertainty on a scale from one (=
low/weak) to ten (= high/strong). Upon return of all questionnaires the administrator can
identify the most relevant factors having a high performance impact as well as a high degree
of uncertainty.
5
Figure 4: Scenario Planning for European Airline Industry–Network Carriers 2nd Round
Questionnaire
An important aspect in ensuring a high quality-level and thus success of the ‘360°
Stakeholder Feedback’ tool is the selection of relevant questionnaire respondents. Here the
questionnaire administrator should select a wide range of stakeholders actively operating in
an industry. Internal stakeholders should include a company’s key employees, e.g. the board
6
of directors and upper management as well as the strategy team. External specialists such
as market experts, scenario specialists, think tanks, consultants and research institutes
should also be involved in the process as questionnaire respondents. Finally external
stakeholders, e.g. key customers, suppliers, financial institutions, shareholders and even
competitors should take part in the questionnaire. Involving a great variety of individuals in
the ‘360° Stakeholder Feedback’ tool is a challenging task and crucial in order to identify the
most relevant influencing factors. Nevertheless, as we will later describe this aspect does not
prolong the process, but adds significant value.
When searching for relevant survey respondents the administrator can use a great variety of
sources. Once top management support has been granted it is usually no problem to find
internal questionnaire candidates. These should hold a senior position meaning they have a
rough oversight of a company’s strategy and external influencing factors. Individuals
involved in pure day-to-day operational tasks are not ideal to answer the questionnaire due
to their narrow job focus.
External questionnaire candidates are more difficult to identify. External stakeholders such
as customers or suppliers can be contacted using existing company databases. Again the
focus should be on senior managers as questionnaire respondents. When looking for
external specialists the press, internet and personal contacts are good sources. From our
experience a company’s alumni and global business professional networks (e.g. XING or
Linkedin) are the best sources for contacting and selecting potential external questionnaire
participants. Once completed, it is advisable for companies to maintain a database of
potential questionnaire respondents for future scenario planning activities to ensure an
efficient application of the ‘360° Stakeholder Feedback’ tool.
There are different methods for completing the ‘360° Stakeholder Feedback’ questionnaire.
First, the survey can be conducted in a traditional paper format meaning participants receive
7
a paper version of the questionnaires by post and return them upon completion. Second, the
same process can take place online using a standardized survey tool. When selecting a
survey method it is important to keep the scope of the scenario planning process, the time
frame and available resources in mind. If a company wishes to consult external experts the
paper or online format are the most suitable methods due to their scalability as well as
practicability. From experience we generally advise to use an online based questionnaire
method since it significantly speeds up the process of receiving answers from external
questionnaire respondents compared to the paper method. Questionnaire respondents can
easily be contacted by phone or email, receive a link to the online survey, which they can
subsequently answer where and when it is convenient. Additionally, the answers to the
second, closed questionnaire are automatically combined and evaluated when using an
online tool facilitating and speeding-up the process of identifying blind-spots described in the
next section.
Figure 5: Spider Diagram European Airline Scenario – Impact: External vs. Internal View
8
Figure 6: Spider Diagram European Airline Scenario – Uncertainty: External vs. Internal view
Combining the results of an external and internal questionnaire is a very important exercise
when trying to identify the earlier described ‘blind spots’. These will become visible by
comparing weak signals and influencing factors mentioned by survey participants with
different backgrounds. This task can for example be achieved using spider diagrams. Spider
diagrams quickly visualize blind spots. Precisely, blind spots are those factors which external
respondents consider to have a significantly higher impact or greater uncertainty than
internal respondents do (Figures 5 and 6). Based upon these blind spots highlighted through
a spider diagram one can thus continue the scenario-based strategic planning process
taking into account relevant influencing factors a company has so far neglected (Figure 7).
We recently conducted a ‘360° Stakeholder Feedback’ for the European Airline Industry with
a focus on Network Carriers8. In this process we selected industry specialists using the
previously described methods. Market experts from leading consulting firms, airlines and
research institutes took part in the process and produced an extensive list of 29 influence
factors ranging from the ‘shift of economic power to Asia’ to the ‘importance of European
low-cost carriers’. Several blind spots were identified, especially regarding the impact of a
8
Network Carriers in this scenario are airlines operating a global route-network on a hub-and-spoke
basis such as e.g. Lufthansa, Air France or British Airways. 9
potential future expansion of low-cost carriers and the impact of technological advances in
video conferencing. The 360° Stakeholder Feedback’ has revealed that European Network
Carriers will face future challenges they are currently not fully anticipating. With the support
of the tool they are now able to include these influence factors in their strategic planning
processes (Figures 5 and 6).
Figure 7: Questionnaire Respondents and Blind Spot Analysis
The described process of combining internal with external results can be accelerated by
having an industry specific influence factor database. The Center for Scenario Planning is
currently in the process of building such a database for selected industries. The central
benefit of the database is that it will be no longer necessary to conduct the longer external
part of the ‘360° Stakeholder Feedback’ questionnaire since influencing factors as well as
their impact and uncertainty are already available. Only the internal questionnaire needs to
be conducted meaning the whole scenario-based strategic planning process will be even
less complex and time consuming.
10
2. Evaluation
The main advantage of the ‘360° Stakeholder Feedback’ lies in its standardized, efficient
approach to identifying blind spots and weak signals. Standardized documentation means
that few resources are required for the already quick and straightforward process. One
person is needed to identify a significant number of relevant questionnaire respondents
within one working day. The standardized questionnaires are quickly sent out and the first
stage of the two-step process can be completed within a week. Conducting the synthesis
and grouping of influence factors as well as preparing and sending out the second
questionnaire takes another one-man working day. In total the whole process can in an ideal
case be completed within two weeks. During this time two working days are spent on
managing the survey process with the remaining time available for other tasks of the six-step
scenario-based approach to strategic planning. Hence the manpower and resources
required to apply the ‘360° Stakeholder Feedback’ are marginal. Additionally, our practical
experience in applying the tool shows that its group bias can be avoided and existing
perceptions overcome by using a wide range of questionnaire respondents.
Applying the tool also produced some manageable shortcomings. The interpretation and
grouping of influencing factors resulting from the first-round questionnaire can be subjective.
Additionally, there is a danger of selecting inappropriate questionnaire participants who are
not involved in a company’s strategic planning processes. These answers to a certain extent
distort the overall list of influencing factors. Finally given the complex nature of the tool one
has to bear in mind that a complete identification of all influencing factors might not be
possible. Nevertheless all the mentioned disadvantages can be limited by e.g. using several
questionnaire administrators for grouping the influence factors and thus reducing its
subjectivity or defining specific criteria for questionnaire respondents reducing the possibility
of selecting inappropriate ones.
11
Concluding the overall outcome of the ‘360° Stakeholder Feedback’ process is an extensive,
evaluated list of factors that could have an impact on a company as well as a structured
identification of blind spots and weak signals. Nonetheless the process does not ensure an
identification of weak signals or blind spots. It might be possible that these do not develop at
all. From a company’s perspective this is a very positive signal since it indicates that its
strategic early warning systems seem to function well.
12
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6
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Deutschland
5
Die Kapitalkosten von Rückstellungen zur Anwendung des ShareholderValue-Konzeptes in Deutschland
4
Hungenberg, Harald (1996)
Strategische Allianzen im Telekommunikationsmarkt
3
Vilks, Arnis (1996)
Rationality of Choice and Rationality of Reasoning (rev. Edition, September 1996)
2
Verluste trotz steigender Kurse? - Probleme der Performancemessung
bei Zinsänderungen
1
Meffert, Heribert (1996)
Stand und Perspektiven des Umweltmanagement in der betriebswirtschaftlichen
Forschung und Lehre

Tool Description 360° - Stakeholder Feedback

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