Blockchain case study  233

The following are the steps of strategic outcome planning for IOSpeed:

• Review and create strategic initiatives to deliver strategic objectives

• Review and confirm the high-level requirements to deliver the objec-

tives. This can include the following:

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⚬Leadership team selection

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⚬Technical, HR, business, legal, sales, marketing and finance

resource hiring requirements

⚬

⚬Internal and external human resource demand

⚬

⚬Engagement with vendors, consulting partners and regulators to

set the objectives and timelines to deliver the objectives

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⚬Budget allocation for each initiative

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⚬Set deliverable timelines for each initiative

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⚬Establish RACI (Responsible, Accountable, Communicate and

Informed) against each strategic objective

Communication of the objectives and goals

Communication is an important part of the successful delivery of the stra-

tegic objectives and goals of IOSpeed. The following are some of the steps

to communicate IOSpeed objectives and goals successfully as part of the

communication strategy:

• Discover a list of stakeholders on various levels and those that are

directly/indirectly involved in the strategy execution.

• Categorise the stakeholders in various categories as follows:

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⚬Internal stakeholders

– Business, technology, human resources, procurement, Employee

Unions and legal

⚬

⚬External stakeholders

– Consulting firms, vendors, societies like British blockchain

association and British Banking Association (BBA)

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⚬Regulators

– Regulators of the countries where IOSpeed wants to launch

the business

• Design a communication template and content for various types of

stakeholders

• Get approval from sponsors and senior management on the communi-

cation template and content

• Establish communication channels (paper, digital, advertisement,

workshops, roadshows, etc.)

• Frequency of the communication

• Set up a feedback channel for the communication. The feedback chan-

nel is important to improve the communication strategy of IOSpeed

• Once all the administration and governance of the communication

strategy are complete, IOSpeed can launch the communication initia-

tive and kick off the execution.