Page 13 - The European Business Review
P. 13
Select a “Burning” Issue, logistics and operational capabilities, and Create a Common Definition of
Take Ownership and Mobilise the level of interest from stakeholder Value Among Stakeholders
1 Stakeholders groups. This helps identify where the 4 Cooperation and commitment
Selecting the right issue is funda- company can contribute most effectively, from a range of stakeholders and part-
PHQWDO ,V WKLV D VLJQLÀFDQW LVVXH ZKHUH and where it needs to rely on partners or ners requires transparency and trust.
our company’s capabilities can clearly other stakeholders and to reach out to Parties should be able to discuss and agree
contribute towards creation of a solu- them with the right call to action. on the notion of value in the context of
tion? Is the issue in line with our overall their joint-action and how value will be
strategic direction and brand promise? Team Up with the Right Partners created and shared. Business modelling
If the answer to both questions is yes, Addressing complex issues requires VKRXOG UHÁHFW WKLV DQG VWDWH H[SHFWDWLRQV
it will be easier to mobilise internal 3 partners that are in for the long as clearly as possible. Mechanisms for
support and to ensure that the company haul, who are willing to learn together WKH UHJXODU UHYLHZ RI YDOXH ÁRZ DQG IRU
is in a credible position to take action. and help each other. In the scoping maintaining a high degree of transpar-
Maximising the chances of period, the parties need to develop ency should be put in place.
success also depends on identifying trust, align their thinking on using their
an issue of the right size, which can capabilities, and agree on a governance Define Baseline and
be translated into an initiative with structure that ensures results over time. Performance Indicators
the potential to scale. This avoids As well as sharing the risks, responsibil- 5 Provision of funding for
daunting complexity and makes it LWLHV DQG EHQHÀWV SDUWQHUV DOVR QHHG WR socio-economic and/or environmental
easier to demonstrate progress, in combine complementary expertise, global challenges is increasingly subject to
WXUQ LQVSLULQJ FRQÀGHQFH LQ VWDNH- know-how and local contextual insights. measurement of outcomes (which
holders and partners. Initiators also Experimentation, co-venturing and new often emerge over longer periods of
need a strong narrative to motivate business models will often be neces- time). This means careful setting of
employees and to encourage external sary; as will knowledge experts; deep baselines for performance indica-
partners to join forces. ORFDO FRQWH[WXDO LQVLJKWV IURP IRU SURÀW tors is key. Project milestones should
DQG QRQ SURÀW VWDNHKROGHUV DQG OHYHU- also be agreed by all partners and key
Identify the Enablers for Success aging trusted social networks. In the stakeholders from the start to avoid
Next, take stock of the enablers Transformation Economy, the “how” to unrealistic expectations and/or use of
2 for success such as funding, act and the “with whom” are typically as inappropriate conventional measure-
policy and legislation, R&D, technology, important as the “what”. ments. Joint initiatives to solve complex
issues require patience, commitment
and good monitoring. And an “agile”
way of working, where plans and
tactics can be continuously adapted is
a sound basis for shaping governance
and management.
Never Compromise on Customer
Experience
6 In the contexts we have
discussed, partnerships can readily fall
into the trap of thinking that any solu-
tion is better than no solution. Too
often “doing good” for society and the
environment has led to market failure.
It is assumed that socially or environ-
mentally valuable solutions require a
VDFULÀFH LQ WHUPV RI WKH TXDOLW\ SHUIRU-
The Githurai-Langata health facility in Kenya. Philips, in partnership with the local county government,
transformed the facility as a model for its Community Life Centers project. mance, and user experience. On the
www.europeanbusinessreview.com 13