•• Cognitive agendas
Emotional agendas and drivers.
While buyer and supplier power is a particularly fruitful point at which to begin the analysis of stakeholder agendas, analysing the other three competitive forces also offers much potential for insight.
These forces are now illustrated by reference to other industry environments. First, a short example on entrants to the Internet and their agendas is discussed. Second, the strategy consulting industry is used to illustrate the impact of agendas on the growth in substitutes.
Entrants and the Internet
Stakeholder agendas play a major role in the strategies of entrants. Here the attractors to new entrants to the Internet industries might well include:
• Being first to make a fortune: for example, starting the equivalent of Dixon’s Freeserve.
• The fear of being left behind by other more adventurous players.
• The need to deliver increased returns to shareholders generally with the perception that the Internet is the way to achieve this.
• The possibility of managerial advancement in the company by exploiting this areaofopportunityquicklyandeffectively.
The stakeholder agenda repellers equally, might include: •• Fears that the Internet bubble will burst.
Associated fears that a developing Internet business might cannibalize the existing operation.
In conclusion, the behaviour of entrants can be finely balanced by their psychological states rather than being determined by more objectivelyrational,financialandcompetitive analysis. While financial impact is clearly an undercurrent in the above agendas, they are shaped and mobilized by collective personal concerns.
Substitutes – the case of the strategy consulting industry
In examining substitutes we must also take the perspective of the buyer. Turning now to an example from the strategy consulting market and taking a customer perspective, the key attractions of doing the project oneself and thus not using strategy consultants are shown in Figure 7.
The discretionary costs of using consultants are avoided. Other benefits include: • The fear of spending money without real value being added is also taken away.
• Internal stakeholders involved in moving the strategy process forward can get more recognition.
• Perceptions that top management is incapable or unable are avoided.
On the downside there are a number of repellers:
• The fear that an internally facilitated process will be difficult and ineffective.
• Anxieties that the process will become politically distorted.
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Figure 7. Substitutes to strategy consulting — the ‘do-it-yourself’ approach. |
If an equivalent analysis of the attractors and repellers of using strategy consultants had been undertaken, a major repeller might have been the embarrassment factor associated with relying on outsiders. However, by redefining and positioning the strategy consultant process as strategy facilitation and as strategy training this might diminish the attractions of the buyers’ from doing the job themselves. Diagnosing and then influencing stakeholder agendas of buyers making the ‘do it yourself choice’ may change the competitive rules of the game and ultimately cause a shift in the industry structure.
Rivalry – the supermarket home shopping market
Stakeholder analysis can be equally helpful for analysing the agendas of rivals and their subsequent behaviour. The case of the supermarket home-shopping industry is examined in Figure 8, which examines Tesco’s attractors and repellers offered by the home-shopping market. Its attractors include:
Stakeholder analysis can be helpful for
analysing the agendas of rivals and their
subsequent behaviour
• The desire to maintain and enhance its early-mover leadership in home shopping achieved through its entry in 1997.
• The perceived need to foil competitive threats by the ASDA/Wal-Mart merger.
• The growth of Internet use and Internet shopping generally.
Repellers that might turn Tesco off the idea of developing its home shopping in an aggressive way include:
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