Horizon scanning for beginners: Part 8 - the executive pitch: selling foresight to the C-Suite

In this last post of this 'beginners' series of blog posts I'll cover the not-too-easy task of getting buy-in for establishing a formal approach to horizon scanning. It's a common situation: GRC leaders are often stretched thin, making it difficult to allocate the time and resources needed to champion a new initiative like horizon scanning. The task of building a compelling business case can feel like an uphill battle, but it's an unavoidable one.

The underlying principles of securing executive support remain remarkably consistent across different disciplines. The core idea is to initiate with modest steps, demonstrate tangible value, and incrementally build momentum. It's about planting ideas and nurturing them until they mature into a fully-fledged, supported programme.

One practical approach is to start by creating concise, insightful overviews of emerging trends and potential risks. These should not be exhaustive reports, instead, frame them as digestible snapshots of what's coming. Document your findings on readily available templates (there are many available online) to visualise the information in a clear and accessible format. By integrating these insights into your existing internal reports, you can begin to raise awareness among your peers and stimulate their interest.

Peer feedback is essential at this stage. Sharing your initial findings and requesting input from colleagues can help in refining your analysis, identifying potential oversights, and confirming your overall comprehension of the issues at hand. This collaborative methodology not only elevates the quality of your work but also cultivates a sense of shared responsibility, enhancing the likelihood that your peers will support your case for horizon scanning within the company.

Once you've acquired sufficient data and refined your message, the next step is to present your case to the leadership team. A well thought through, but brief presentation is needed here. The key is to frame the matter in terms that resonate with their priorities and concerns. Emphasise the benefits of proactive risk management, such as enhanced decision-making capabilities, increased resilience, and of course all the future-proofing. Also articulate detail the potential impacts of ignoring these risks by doing nothing.

Horizon scanning, while seemingly self-evident in its advantages, confronts certain inherent challenges. One of the most significant impediments is the inherent uncertainty involved. Predicting future events is, undeniably, an inexact discipline. Executives, frequently driven by quantifiable results and short-term objectives, may exhibit reluctance to invest in an activity that does not yield immediate returns.

Another challenge lies in the potential for false positives. Horizon scanning may identify numerous emerging risks and opportunities, but not all of them will necessarily materialise. This can lead to a perception that the process is generating unnecessary noise and diverting resources away from more pressing issues.

Horizon scanning also requires a diverse range of skills and perspectives. It's not sufficient to simply rely on internal expertise, you also need to tap into external sources of information and insights. This may involve engaging with industry experts, attending conferences, and monitoring relevant publications and online forums. Building a strong network of external contacts can provide valuable perspectives and help to validate your internal findings.

From a risk perspective, be wary of confirmation bias: leaders may selectively endorse horizon scanning that aligns with their preconceived notions of the current reality. This can significantly diminish the efficacy of horizon scanning, as it could be manipulated to reinforce a singular viewpoint.

Now, consider the advantages that horizon scanning can offer. Beyond the palpable benefits of proactive risk management, it can also foster a culture of innovation and strategic thinking within the organisation. By diligently scanning the horizon for nascent opportunities and threats, employees become more attuned to the evolving environment and more inclined to challenge established norms. This can lead to the development of novel products, services, and business models that drive growth and cultivate a competitive advantage.

Consider the following five actionable steps to plant the seeds needed to get buy-in

Speak their language: the art of targeted framing.

Generic presentations on "emerging risks" simply won't cut it. You must tailor your message to resonate with each executive's specific domain. For the CFO, translate foresight into quantifiable cost avoidance and enhanced ROI. For the CMO, illustrate how horizon scanning unlocks untapped market opportunities and strengthens brand resilience. Data is your ally here: use historical examples where proactive foresight averted crises or propelled strategic advantage. Frame horizon scanning not as a cost centre, but as a strategic investment yielding tangible returns.

Showcase tangible value: illustrate "quick wins" with impact

Don't wait for a fully-fledged horizon scanning programme to prove its worth. Scour the organisation for instances where even informal foresight has demonstrably delivered positive outcomes. Did a proactive risk assessment avert a regulatory fine? Did early trend identification unlock a new revenue stream? Quantify these successes and use them as compelling proof points. Remember, data speak volumes, so let them tell the story of horizon scanning's potential.

Enlist an executive champion: power of influence

Identify a senior leader who 'gets it' and possesses the influence to drive change. This person will serve as your internal advocate and help navigate all the political complexities. Bring your champion up to speed with compelling data, persuasive narratives, and a well thought through mini-business case.

Strategic alignment: linking foresight to core objectives

Horizon scanning must not exist in a vacuum. Articulate a crystal-clear connection between your foresight initiatives and the company's strategic objectives and goals. Demonstrate how horizon scanning empowers informed decision-making, strengthens competitive positioning, and accelerates the achievement of strategic KPIs. By aligning foresight with established strategic priorities, you transform it from a peripheral activity into an indispensable driver of business success.

Recognise you need help to make the business case

If you have never made a business case before, get help from those who can provide relevant input. Resist the temptation to download a template and complete it yourself. Quality and accuracy are so important here, and you'll need to be able quantify tangible and intangible costs and benefits - this is not as easy as many people thing, so don't be tempted to make guesses without having a set of underpinning assumptions.

This post concludes this blog post 'beginners' series - are you ready to start scanning the horizon?

• We can get you started by facilitating the end to end processes and then maintain and update your radars on an ongoing basis with regular interaction with you and your team

• We can can help you get started by facilitating the end to end processes and then handing responsibilities to you, providing support afterwards where needed

Feel free to get in touch to arrange a no obligation call to discuss your current situation and hear how Purpose and Means can help you navigate through these turbulent times.