A key objective was to build the new strategy on a profound understanding of future trends and drivers of change, how those will be transforming society at large, and how the changes will be impacting customers as well as the member companies.
The Association of Finnish Technical Traders
The Association of Finnish Technical Traders, that represents the interests of more than 350
companies in technical trade, undertook a strategy renewal project this year. A key objective was to build the new strategy on a profound understanding of future trends and drivers
of change, how those will be transforming society at large, and how the changes will be impacting customers as well as the association’s member companies.
“A key aim was to engage the member companies to think broadly about drivers of change,” said Markku Uitto, Managing Director of The Association of Finnish Technical Traders.
Solution
To support the strategic planning process, the association chose to work with consulting firm Talent Vectia. Based on Talent Vectia’s recommendation, the Futures Platform digital foresight tool and working method was utilized as a central part of the process. Futures Platform helps think about possible futures.
The Futures Platform tool contains brief descriptions of many phenomena that will be shaping the future, phenomena such as artificial intelligence, platform economy, climate change and many more. Futures Platform foresight analysts have created a database of more than 300 phenomena that are key drivers of societal change. The Futures Platform online tool allows a group of people to work together to prioritize key drivers of future change that must be considered.
Results
Futures Platform enabled a productive way to exchange points of view about the future.
”The discussions were exceptionally fruitful and engaging. These discussions among executives from different companies concerning the future of the whole industry also made us realize new things related to each of our own company strategies,” said Markku Hämäläinen, Group CEO of Otto Brandt Ab,and a Member of the Board of the Association of Technical Traders.
In the second phase of the project the new strategy for the industry association was created. The previously identified future opportunities and risks were considered. The heterogeneity of the member companies set an additional level of challenge, as their needs and expectations for the industry association naturally vary.
”We feel satisfied with the outcome. We believe we certainly got much further than we would have gotten on our own, only among the association and its member companies”, Markku Hämäläinen said.
As part of the new strategy, the industry association is expected to offer more industry foresight to its members than before. A part of the association’s role is to function like a radar that monitors trends, emerging disruptions, and regulatory developments. Naturally the members also wish that the association will make interpretations of what the impacts of change will be for its members.
”The member companies may, for instance, perceive that they lack some competencies that are needed in the changing industry landscape. The association can then explore, what networking possibilities are available to help build the required competencies for the future,” Uitto said.