Podcast
Questions and Answers
What is one key reason to communicate with executives?
What is one key reason to communicate with executives?
- Initiating new hires
- Improving internal processes
- Gaining access to data (correct)
- Conducting market research
What type of information should you gather about the executives' business?
What type of information should you gather about the executives' business?
- Only the competitors' names
- The hobbies of the executives
- How they make money and their costs (correct)
- Their office locations
When preparing a communication for executives, what is an effective strategy?
When preparing a communication for executives, what is an effective strategy?
- Focus on making a long presentation to cover all aspects
- Only ask questions without offering solutions
- Catch their attention in three sentences (correct)
- Provide detailed reports exceeding ten pages
What do executives generally prioritize when receiving information from research?
What do executives generally prioritize when receiving information from research?
Which aspect is often overlooked when communicating with executives?
Which aspect is often overlooked when communicating with executives?
Flashcards
Company Revenue and Costs
Company Revenue and Costs
Understanding how a company generates revenue and the associated costs is essential for tailoring research proposals.
Company Suppliers
Company Suppliers
Identify the companies that supply goods or services to the executive's company. This understanding helps you align your research with their existing supply chain.
Company Competitors
Company Competitors
Gain insight into the executive's competitors, both current and future. This helps understand the competitive landscape and how your research can create a competitive advantage.
Company Headwinds and Tailwinds
Company Headwinds and Tailwinds
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Research Alignment with Company Goals
Research Alignment with Company Goals
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Study Notes
Communication with Executives
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Funding Requests: Executives are interested in funding opportunities for research, innovation, and solutions. Training programs and CSR/Marketing initiatives also fall under this category. Organizations often seek funding for all of the above, not just a single element.
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Access to Information: Executives value access to crucial data, customer insights, and demonstrable use cases.
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Executive Needs: Executives need information about research/innovation, solutions, training, CSR/marketing, and how projects fit into their business goals. They also require details of costs, supplier relationships, competitor analyses, and risks/opportunities.
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Executive Audience: Knowing the decision-makers and their motivations is key. For example, higher budgets frequently correlate with less technical expertise.
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Effective Communication: Keep presentations concise, targeting key insights in 3 or fewer sentences. Have supporting details and supporting material ready. Recognize that projects might extend beyond the initial scope, and be prepared to discuss additional aspects. Ensure you are asking for enough support, as clients often pay for deliverables and may require multiple pivots in your work. R&D Tax credits are a potential item to bring up.
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