Far Eastern Group
How it all started
One of the most significant workshop experiences for Business Models Inc Greater China in 2014 has to be the engagement with Far Eastern Group, one of the largest business conglomerates in Taiwan. The assignment was to conduct two 5-hour workshops, to a mass audience of 500 senior executives and upper management talents of all subsidiary companies across the group. As the workshop is incorporated as part of the FEG’s 3-day annual strategy summit, the key challenge was to make the workshop inspiring, relevant to day-to-day business, at the same time, aligning with FEG’s annual theme.
Designing inspiration and relevance
Being a leading conglomerate, FEG has strong presence in across 10 different major industries; from textile, finance, retail, shipping, to telecommunications, only to name a few. As a result, the level of complexity and attention to details was enormous and requires, inevitably, a great amount of effort in design and coordination to make the session meaningful. Aligning with FEG’s theme, we have decided on “Vision”, aiming to encourage participants to imagine bold and ambitious steps towards their success in year 2020.
Precision and detail to attention
Planning for the event was an iterative process of communication and alignment. With 250 executives from diversified industries in each workshop, every little detail from workshop flow, venue set-up, to time management, were all planned and rehearsed to the highest precision possible. Thanks to FEG’s project team, the experience and professionalism of organizing such big event played an importance through-out the project and to the final success.
What we did
Steve Lin opened the scene with Business Model Canvas, preparing each participant a background to establish a common language towards current businesses. Followed by a brainstorming sharing of recent trends and industry changes; target to stimulate participants to think of the threats and opportunities these changes could mean to their respective business models. This exercise instantly impacted the participants with fast changing environment happening around us and opened up their perspective on disruptive business models. Even in such a big crowd, we observed the vibe and constructive interactions within each team. Common language established through business model canvas allowed participants to build consensus on critical business elements, thus enhanced more focused, coherent discussions.
Envision a convincing future
Using cover story vision as the session’s main theme and highlight, each team had to craft their year 2020 cover story that is bold and yet on the ground. With ideas that were generated from the previous brainstorm session, all the teams dived in enthusiastic discussion and started to challenge business possibilities that are beyond industry status quo. Each team takes turn to present their 2020 vision, together with a revised business model canvas to illustrate the critical success business elements. Based on level of innovation, business relevance and operation feasibility, all participants voted for their favorite and 3 finalists were presented with awards.
Through out the session, atmosphere of the room stayed noisy and highly energetic. Many participants shared their observation saying they find the tools introduced to them really useful, helping people to build common understanding on the reality of current business context, and be able to discuss business options in a more focused and tangible way.