future leaders network, cambridge mike blackburn vp strategy, bt global government collaborative...
TRANSCRIPT
Future Leaders Network, Cambridge
Mike BlackburnVP Strategy, BT Global Government
Collaborative WorkingSome thoughts and experiences
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Building trust with your stakeholders
• It is nearly impossible to build a profitable relationship with a stakeholder without trust.
• Be completely open and honest about the level of trust that exists in your relationship.
• Mutual goals give both parties a reason to contribute equally.
• Having senior executives involved over a long period of time ensures the relationship will continue to grow.
• Measureable goals can help you determine how far trust has been built
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Some experiences
• Inconsistent expectations between a customer and provider can create a crisis situation.
• When complications arise, a company must react quickly to minimise damage.
• Up-front collaboration between parties helps clear confusion and set realistic expectations.
• Designing long-term solutions instead of short-term stopgaps is a more sustainable business practice.
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Degree of trust Cultural Fit Ease of working together Capacity for joint problem-
solving Ability to leverage and
learn from differences Capacity to resolve conflicts Openness and quality of
communication Capacity for taking a “what
is best for the venture” perspective
A Successful Collaboration has to address both substantive and relationship issues
Strategic
Competitive positioning
Business targets, plans and strategies
Financial
Prices, fees and rates
Financing and equity
Legal
Technology transfer & licensing terms
Consequences of default
Relationship IssuesSubstantive Issues
Organizations often invest heavily on the substance...
…but many don’t take the time to focus on the relationship, a primary
cause of partnership failure.
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“This is about getting them to meet our needs”
When things go wrong, assign blame and apply contractual penalties
Customer decides, vendor executes
Customer defines metrics; supplier is evaluated
Negotiations are often adversarial; produce arbitrary outcomes
Each party is often surprised and learns of decisions after they’re made
Attributes of a strategicsupplier partnership
“This is about meeting both our needs in a sustainable way”
When things go wrong, diagnose joint contributions and work to avoid repetition
Wise decisions need joint input
At least some metrics are jointly developed and shared, or symmetrical
Negotiations focus on problem-solving; produce good precedents
Surprises are rare; planning is highly integrated; communication is frequent and robust
Attributes of a typicalcustomer-vendor relationship
A Critical Shift in Mindset
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How Do Partners View Negotiations With YOUR Organization?
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Questions to ask
• Why would you work with a stakeholder you couldn’t trust?
• In your mind, what qualities define trustworthiness?• What types of actions would raise a red flag in a
relationship?• How would you evaluate your own level of
trustworthiness?• When can a troubled business relationship be
salvaged, and when is it better to move on?
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Challenge – Managing Multiple Stakeholders
• The need for information and buy-in from multiple affected parties leads to complex negotiations for consensus
• Parties who feel excluded from or surprised by decisions impede implementation
• Consultation creates an expectation of playing some role in decision-making
• Any process risks being over- or under-inclusive, or both
Alliance manager fears that a
particular group of stakeholders will undermine a deal
Alliance managerdoes not involve
group of stakeholders
Group of stakeholdersfeels left out and
undervalued
Stakeholdersimpede
smooth progressof the deal
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A Better Approach to Dealing with Multiple Stakeholders
• Approach– Seek alignment, early
and often– Alignment is not
consensus– Consultation is neither
veto power nor a mere formality
– Limit actual decision-making to the smallest, most manageable, andmost appropriate group
• Process Helps– Decision-making rights
and responsibilities– One-text procedure
Alliance manager knows that a group
of stakeholders have valuable input for the
deal
Alliance managerconsults regularlywith stakeholders
Stakeholders feel included and that their input is taken
into account
Stakeholdersbecome part of the
solution and provide constructive input
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Scaling Collaboration & Innovation Through Social Networking
• Innovation is sparked when people work and collaborate together, sharing ideas, solutions, and best practices with one another.
• Face to face meetings and interactions aren’t always practical or even possible, particularly when large numbers of people or geographic distances are involved.
• Social networking through technology allows a nearly endless number of people to join together for learning opportunities, regardless of distance or time.
• Today’s technology encourages senior leadership to become involved in learning and teaching through social networking as well, since time commitments are more easily obtained.
• Providing recognition of people and their accomplishments is an excellent way to gain participation and buy-in from employees at all levels for online learning events and social networking.
Future Leaders Network, Cambridge
Mike BlackburnVP Strategy, BT Global [email protected]