Develop a new business model in cooperation with listening to and reporting to stakeholders if you want to get the best ideas and have the most support.
Everyone has had the experience of being asked their opinions, and then feeling like they haven't been listened to. The cause of that feeling is usually a misunderstanding about why the views were sought.
The best way to avoid this problem is to check with the stakeholders to be sure that their observations have been accurately understood and addressed before making a decision about a new business model. This means you should plan to have several rounds of communication, feedback, and adjustment.
You will get the best cooperation if you let everyone know in advance that you expect that this reiteration will be the case. Then, when you goof in dealing with an issue, people will feel like they can still correct the problem rather than becoming frustrated . . . leading to anger or even opposition to the process. Here are some ideas for making this process a creative and cooperative one.
(1) Start by summarizing the concerns that have been raised, outlining some possible solutions, and asking for other ways to handle the concerns. By keeping open the process of selecting a business model and better ways for the business model to be implemented, you preserve the opportunity to get ideas and cooperation from all involved. Further, you can inform each stakeholder group about the concerns of the other stakeholders, so that individuals can see how their needs fit in with the circumstances of the others who must perform well for everyone to experience greater success.
(2) Ask stakeholders for their ideas on how to monitor how well their concerns are being addressed during the implementation of these business models. In most circumstances, you will not initially succeed in creating all the fairness you would like to have. On the other hand, using processes to improve fairness will lessen the likelihood that harm will occur and establish the genuineness of the company's desire to do the right thing. In considering this point, consider how principle and process-driven political agreements like the Mayflower Compact and the United States Constitution helped establish and maintain the good will necessary to create appropriate solutions when they were needed.
(3) Keep repeating the sharing and questioning until stakeholders tell you that you have understood them correctly and dealt with the issues in appropriate ways. In other words, treat all stakeholders as considerately as you would a customer whom you could not afford to lose. Too often, stakeholders are viewed and treated as less important than others. The consideration and care that you show in this process will become part of the fabric of your new business model for many years to come. You will be improving your business model and the way that stakeholders cooperate at the same time. Making both changes is more valuable than only one.
Copyright 2008 Donald W. Mitchell, All Rights Reserved
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