Stakeholder Related Quotes

Despite many people being involved in the process, the ultimate decision should be made solo. Only the CEO has comprehensive knowledge of the criteria, the rationale for the criteria, all of the feedback from interviewers and references, and the relative importance of the various stakeholders. Consensus decisions about executives almost always sway the process away from strength and toward lack of weakness.

Phase 1: Discovery 1. Define the problem statement What is the challenge that will be solved? The problem statement is defined at this step and becomes the foundation of the project. Here is a sample problem statement: The company has more than one hundred thousand email addresses and has sent more than one million emails in the last twelve months, but open rates remain low at 8 percent, and sales attributed to email have remained flat since 2018. Based on current averages, a 2 percentage-point lift in email open rates could produce a $50,000 increase in sales over the next twelve months. It’s important to note that a strong and valid problem statement should include the value of solving the problem. This helps ensure that the project is worth the investment of resources and keeps everyone focused on the goal. 2. Build and prioritize the issues list What are the primary issues causing the problem? The issues are categorized into three to five primary groups and built into an issues tree. Sample issues could be: •​Low open rates •​Low click rates •​Low sales conversion rates 3. Identify and prioritize the key drivers. What factors are driving the issues and problem? Sample key drivers could include: •​List fatigue •​Email creatives •​Highly manual, human-driven processes •​Underutilized or missing marketing technology solutions •​Lack of list segmentation •​Lack of reporting and performance management •​Lack of personalization 4. Develop an initial hypothesis What is the preliminary road map to solving the problem? Here is a sample initial hypothesis: AI-powered technologies can be integrated to intelligently automate priority use cases that will drive email efficiency and performance. 5. Conduct discovery research What information can we gain about the problem, and potential solutions, from primary and secondary research? •​How are talent, technology, and strategy gaps impacting performance? •​What can be learned from interviews with stakeholders and secondary research related to the problem? Ask questions such as the following: •​What is the current understanding of AI within the organization? •​Does the executive team understand and support the goal of AI pilot projects?

The property owner, contractors, subcontractors, investors, the lender, project stakeholders, the architect, as well as project managers are each individually able to stay updated on the progress of the home-build through the Schedule of Values. Inasmuchas the Schedule of Values relates to billable work performed - and to tasks completed - during each draw period in the project. As each phase of the home build is completed - i.e.: as one draw period progresses to the next draw period - the project's Schedule of Values is updated. The updating of the S.O.V. in subsequent draw periods is directly relatable to forthcoming draw requests. For each new draw request, line items in the Schedule of Values - as per project progression in each draw period - are revised.

Supercapitalism has triumphed as power has shifted to consumers and investors. They now have more choice than ever before, and can switch ever more easily to better deals. And competition among companies to lure and keep them continues to intensify. This means better and cheaper products, and higher returns. Yet as supercapitalism has triumphed, its negative social consequences have also loomed larger. These include widening inequality as most gains from economic growth go to the very top, reduced job security, instability of or loss of community, environmental degradation, violations of human rights abroad, and a plethora of products and services pandering to our basest desires. These consequences are larger in the United States than in other advanced economies because America has moved deeper into supercapitalism. Other economies, following closely behind, have begun to experience many of the same things. Democracy is the appropriate vehicle for responding to such social consequences. That’s where citizen values are supposed to be expressed, where choices are supposed to be made between what we want for ourselves as consumers and investors, and what we want to achieve together. But the same competition that has fueled supercapitalism has spilled over into the political process. Large companies have hired platoons of lobbyists, lawyers, experts, and public relations specialists, and devoted more and more money to electoral campaigns. The result has been to drown out voices and values of citizens. As all of this has transpired, the old institutions through which citizen values had been expressed in the Not Quite Golden Age—industry-wide labor unions, local citizen-based groups, “corporate statesmen” responding to all stakeholders, and regulatory agencies—have been largely blown away by the gusts of supercapitalism. Instead of guarding democracy against the disturbing side effects of supercapitalism, many reformers have set their sights on changing the behavior of particular companies—extolling them for being socially virtuous or attacking them for being socially irresponsible. The result has been some marginal changes in corporate behavior. But the larger consequence has been to divert the public’s attention from fixing democracy. 1

stakeholders, experts, and other figures related to a specific improvement plan (meetings, public forums) · Consult the relevant organizations to find whether they accept the recommendations

MODEL 2: Multiple Stakeholder Sustainability, Fons Trompenaars and Peter Woolliams (2010) PROBLEM STATEMENT How can I assess the most significant organizational dilemmas resulting from conflicting stakeholder demands and also assess organizational priorities to create sustainable performance? ESSENCE Organizational sustainability is not limited to the fashionable environmental factors such as emissions, green energy, saving scarce resources, corporate social responsibility, and so on. The future strength of an organization depends on the way leadership and management deal with the tensions between the five major entities facing any organization: efficiency of business processes, people, clients, shareholders and society. The manner in which these tensions are addressed and resolved determines the future strength and opportunities of an organization. This model proposes that sustainability can be defined as the degree to which an organization is capable of creating long-term wealth by reconciling its most important (‘golden’) dilemmas, created between these five components. From this, professors and consultants Fons Trompenaars and Peter Woolliams have identified ten dimensions consisting of dilemmas formed from these five components, because each one competes with the other four. HOW TO USE THE MODEL: The authors have developed a sustainability scan to use when making a diagnosis. This scan reveals: The major dilemmas and how people perceive the organization’s position in relation to these dilemmas; The corporate culture of an organization and their openness to the reconciliation of the major dilemmas; The competence of its leadership to reconcile these dilemmas. After the diagnosis, the organization can move on to reconciling the major dilemmas that lead to sustainable performance. To this end, the authors developed a dilemma reconciliation process. RESULTS To achieve sustainable success, organizations need to integrate the competing demands of their key stakeholders: operational processes, employees, clients, shareholders and society. By diagnosing and connecting different viewpoints and values, their research and consulting practice results in a better understanding of: The key challenges the organization faces with its various stakeholders and how to prioritize them; The extent to which leadership and management are capable of addressing the organizational dilemmas; The personal values of employees and their alignment with organizational values. These results help an organization define a corporate strategy in which crucial dilemmas are reconciled, and ensure that the company’s leadership is capable of executing the strategy sustainably. It does so while specifically addressing the company’s wealth-creating processes before the results show up in financial reports. It attempts to anticipate what the corporate financial performance will be some six months to three years in the future, as the financial effects of dilemma reconciliation are budgeted.

Phase Activities Action Establish relationships and common agenda between all stakeholders Collaboratively scope issues and information Agree on time-frame Reflection On research design, ethics, power relations, knowledge construction process, representation and accountability Action Build relationships Identify roles, responsibilities and ethics procedures Establish a Memorandum of Understanding Collaboratively design research process and tools Discuss and identify desired action outcomes Reflection On research questions, design, working relationships and information requirements Action Work together to implement research process and undertake data collection Enable participation of others Collaboratively analyse information generated Begin planning action together Reflection On research process Evaluate participation and representation of others Assess need for further research and/or various action options Action Plan research-informed action which may include feedback to participants and influential other Reflection Evaluate action and process as a whole Action Identify options for further participatory research and action with or without academic researchers Figure 2.1 Key stages in a typical PAR process

Over the past thirty years the orthodox view that the maximisation of shareholder value would lead to the strongest economic performance has come to dominate business theory and practice, in the US and UK in particular.42 But for most of capitalism’s history, and in many other countries, firms have not been organised primarily as vehicles for the short-term profit maximisation of footloose shareholders and the remuneration of their senior executives. Companies in Germany, Scandinavia and Japan, for example, are structured both in company law and corporate culture as institutions accountable to a wider set of stakeholders, including their employees, with long-term production and profitability their primary mission. They are equally capitalist, but their behaviour is different. Firms with this kind of model typically invest more in innovation than their counterparts focused on short-term shareholder value maximisation; their executives are paid smaller multiples of their average employees’ salaries; they tend to retain for investment a greater share of earnings relative to the payment of dividends; and their shares are held on average for longer by their owners. And the evidence suggests that while their short-term profitability may (in some cases) be lower, over the long term they tend to generate stronger growth.43 For public policy, this makes attention to corporate ownership, governance and managerial incentive structures a crucial field for the improvement of economic performance. In short, markets are not idealised abstractions, but concrete and differentiated outcomes arising from different circumstances.

If you’ve got products that are proprietary as well as open source, it’s important for you (and your stakeholders) to remember that your open source customers who typically aren’t paying for your product are just as valuable as your paying customers . Their feedback, contributions, and support are integral to your success. Because of this, you need to protect the open source offerings that your company has. Don’t make the open source products subpar to your paid products. Offer support to them just like you would to your paying customers. And treat your open source community just like you would your paying customers—with respect and appreciation.

Chapter Summary The Fourth Industrial Revolution is a new chapter in human development, driven by the increasing availability and interaction of a set of extraordinary technologies, building on three previous technological revolutions. This revolution is only in its early stages, which provides humankind with the opportunity and responsibility to shape not just the design of new technologies, but also more agile forms of governance and positive values that will fundamentally change how we live, work and relate to one another. Emerging technologies could provide tremendous benefits to industry and society, but experience from previous industrial revolutions reminds us that to fully realize them, the world must meet three pressing challenges. To attain a prosperous future, we must: Ensure that the benefits of the Fourth Industrial Revolution are distributed fairly Manage the externalities of the Fourth Industrial Revolution in terms of the risks and harm that it causes Ensure that the Fourth Industrial Revolution is human-led and human-centred As leaders grapple with the uncertainty brought about by rapid technological change, adaptation does not require predicting the future. Far more critical is developing a mindset that considers system-level effects, the impact on individuals, which remains future oriented and is aligned with common values across diverse stakeholder groups. So, for the future, the four important principles to keep in mind when thinking about how technologies can create impact are: Systems, not technologies Empowering, not determining By design, not by default Values as a feature, not a bug The regulation, norms and structures for a range of powerful emerging technologies are being developed and implemented today around the world. The time for action is therefore now, and it is up to all citizens to work together to shape the Fourth Industrial Revolution.

manipulation through the tactic of mass assignation. Silvia, a CIO for a logistics agency, described the tactic in the following manner. “Behind closed doors I assemble the team and we plan how to best maneuver the multitude of stakeholders we have to influence to get large-scale change done. We create a highly detailed power map that includes their priorities, relationships, likes, dislikes — even their hobbies and favorite foods. This power map file is encrypted and kept only on my personal laptop, which no one may access but me.” Then she explains, “We continuously analyze their communication styles and who they relate to both on and off the team to determine the best person, channel and information to sway them. If they need to meet with Paul on a project, but they dislike Paul but like Mary, for example, we have Mary set up the meeting and Paul just shows up with her. If they like golf, the information we provide them includes golf analogies. If they like seafood, I take them out for lunch at the local oyster bar. I learned to do this when I worked for a consumer products company. This is how we analyzed the relationships between multiple target customers at the same time to determine how to sell more, and it made sense to apply it internally here.” As noted, mass

Inasmuch as your organization subscribes to the notion that there are many stakeholders beyond the shareholders, the culture of the company and the personality of the brand depend on the daily interactions. This means how your stakeholders relate and interact together, and how, ultimately, the brand is perceived. Does your brand have a clear set of values that can each be described with specific behaviours?

I would love to see more women in the area of digital transformation. If women have improved access to skills development in this area, I believe it will have a positive impact for many generations to come. The skills acquired in digital transformation are transferrable to other sectors as well. The skills are practical and can lead to scientific breakthroughs. Because of this I believe there can be a generational impact. The generational impact is important because we live in an age of commoditized information. As a society, we are relatively new to this reality and while cyber threats are the root of information security challenges, information security challenges are increasingly becoming the root of global threats. There needs to be increased involvement of more international stakeholders with the goal of improving digital transformation skills for everyone. These skills are powerful and for that reason I will continue to promote cyber knowledge-sharing and greater access to cybersecurity education. For more women to enjoy the digital world full of surprises and rewards!