Opening ourselves up to something new, and to the possibility of failure, can be daunting. This openness to change is one of the things that makes us human and, in business, organisations that are the most receptive to change are those with strong leadership.
Last summer, leaders from four UK gas distribution networks, supported by the Energy Innovation Centre, demonstrated their strength of leadership by starting a conversation about the future of the gas industry with experts from the industry, government and academia. We called the event the Gas Innovation Summit.
On reflection, we were breaking new ground for the industry by coming together to create a shared strategic view of the challenges and opportunities in the sector. It was a leap of faith because the expected outcome wasn’t clear. However, each of us remained committed to the belief that this dialogue was a vital first step towards achieving a transformational vision for the gas industry.
Adopting a genuinely collaborative approach to the task was inspired by examples from other industries, such as the technology and automotive sectors, where a concept known as ‘co-opetition’ – competitors coming together to co-operate strategically for mutual benefit – has delivered game-changing results. Consider the example of Amazon when it created its Marketplace platform, which it opened up to third-party sellers. The move simultaneously increased the value that the firm was able to offer customers while generating an extra revenue stream for the business.
I think it’s fair to say that the Gas Innovation Summit is the first example of co-opetition of this breadth that we’ve seen in the UK gas industry. What started out as a conversation about how the gas industry might future-proof itself evolved into a dialogue about how we can place consumers’ needs at the heart of what we do. A collaborative feasibility study was started to establish the way in which the industry might develop a shared approach to social energy – and the outcomes have been shared with the wider stakeholder group.
Through the industry’s co-opetition and customer-centric approach, we have created a truly transformational vision that meets the needs of consumers, the supply chain and the energy industry. A video outlining this vision can be found at http://youtu.be/Edmc7LdmTME. Share your thoughts and views by email: denise.massey@energyinnovationcentre.com.
Denise Massey, managing director, Energy Innovation Centre