 Good morning everyone. This is Tairo Asan from Brightline. We are here at the Web Summit and we're having a conversation with Dean Frank Herkamp from IS Business School and we'll be talking about transformation and stakeholder and how we can help organizations transform themselves and delivering results. So before I just start let me go back to Dean and ask him basically why you are here at the Web Summit. Thank you for having me. The Web Summit is one of the biggest places where young startup companies and specifically from the tech related sectors are coming together, are working for a few days together, pitched to investors, talk to established technology companies that can give them support and where they also meet people that can maybe help them think a little bit about what the future will look like also in terms of development of these corporations and I think for us as a business school it's both a place to learn, to learn about what these companies are doing, what their issues are, what they are struggling with, also to meet alumni because many of the founders here are also alumni of the school and it's also to in turn to help them think a little bit about the growth of these companies about what is going to be important as they manage this cooperation going forward. And we just heard you on stage talking about business stakeholder management engagement and how does it help to let's say get business going. Why is it important and how do you get it right? I think this Web Summit is also interesting place because there are many entrepreneurs here, people in their startup phase and when you start your own cooperation you have a very clear sense of purpose of what you're trying to achieve, what kind of service, what kind of product you want to offer that maybe does not exist and therefore what the objective, the meaning of your existence as a corporation really is and what we have seen is that as companies grow and as they become maybe very successful and big and also age so new generations come in it is sometimes it's more difficult to maintain and there needs to be a specific reflection process about how can you maintain the purpose of the company and how can you really be relevant for the different stakeholders that you have. So being the customers and clients, employees in your company, the society is large that you are somehow interacting with in different ways and maybe also the shareholders obviously, shareholders that can be of different type and making that equation work is not a simple thing and this was something that we discussed today in the panel and I think it was inspiring to see young entrepreneurs who have a very clear sense of this and from there I think to sort of send the message to more established companies about okay think about your roots, how you started and try to make that a reality now that you're an established company. I hear you talking about the clear sense of purpose and this is very important at the same time of course when there is that clear sense of purpose sometime for organization to move they need to be that clear sense of also a sense of urgency because there's no time or because if you don't move fast enough someone who is sitting in the garage that people say will come over and disrupt your business how do you create that sense of urgency in organization so that they can move. For established companies to make an important change important move is a real challenge and in fact you can see how many companies over the past decades or two have ceased to exist or at least be leaders in their sector which shows you that this is not easy to pull off and in fact right now probably the major management challenge for established companies as they manage what we generally call the digital transformation or transformation into a technological age is precisely to make that happen at the Neville organization and the main ingredient is creating a sense of urgency because in a very natural way an organization that is large that has established procedures there is a tendency to sort of go on doing things as they were done before so far and in fact quite successfully done and creating a sense of urgency sometimes means being very blunt about what the future will look like if this change is not being done and but it also means leading by example so if change needs to take place so that the leadership team in their own actions or maybe also in the way they organize their own work sort of lead by example and show they are willing to change and maybe make important dramatic changes but it's one of the defining I think leadership issues right now in this moment in the beginning of the 21st century. This is quite interesting and of course we at Brightland we released recently what we call a Brightland Transformation Compass and the people centered Transformation Compass to help organizations transform themselves and we heard you many times talking about people and how they are central and important organizations what we see the many organizations although they say that people are important you don't see it in action when you start filling the onions you don't necessarily see people at the center how do you create a people center organization and how do you use that as a lever to deliver your transformations I think you need to take a step back and and realize in that in the end any kind of organization is some entity that's made up of people in the first place it's it's obvious but every once a while you have to repeat that obvious thing and you have to realize that these people spent most of their working hours at that place at that organization or in whichever way they work for for this kind of organization so for them it's also in a way the defining element of their own lives beyond their family structures and friends so if you think about it simply from that this this perspective it's clear that organizations are really about people and if they want to thrive one way or another they need to create an environment in which people can thrive there is no organization that's thriving in which it's people are thriving it may for a for a short time sort of seem like there's actually good things happening because maybe there are some short term financial results that are working quite well but eventually if this is not really if this organization is not driven by enthusiastic people who really like to do what they do in the at the place where they are that's not going to work and and I think that's simple insight if you take a mid to a long-term perspective for any kind of leader should should be obvious