Creation of an Early Warning Signals Guidelines for Companies in Luxembourg by Combining Research and Business Strategy Expertise
Luxembourg, January 13th 2021 – In today’s market, the frequency of changes and the corresponding impacts on companies are constantly increasing. However, such issues do not emerge without warnings: weak signals can be used to anticipate opportunities, risks and/or threats.
MindForest and Luxembourg School of Business have decided to partner together and work on developing guidelines to help companies understand the need to sense, seize and reconfigure early warning signals (EWS) as a part of their daily business.
“While writing a book on the restructuring of companies, I figured out that lots of restructuring projects would have become obsolete, if the companies had been familiar with the use of weak signals. Missing those signals, being late in their reception and processing or not being capable of launching corrective actions either drives companies into a crisis or prevents them from exploiting their potential for success. However, in this particular case I was lucky enough to talk about the subject with Nico Hoffeld from MindForest. And both came to the conclusion that a joint effort for increasing the awareness of the importance of EWS and providing concrete guidelines aboutr using them could help Luxembourgish companies to increase their competitiveness.” said Dr. Dino Dogan, the Dean of Luxembourg School of Business. Nico Hoffeld, Managing Partner at MindForest, added “As soon as I learnt more about the subject, I realized just how crucial this could be to the business community. Given our work in the field of Change Management, we have always placed considerable importance on the use of a comprehensive risk matrix, but this research into EWS has the potential to take this approach to a higher level and provide enormous advantages for many different fields of industry.”
Following a period of interviews, conducted by the team of researchers, with a panel of senior managers and representatives of well-known Luxembourg companies, a global survey will be launched on February 22nd 2022 and shared with the business community in Luxembourg. The survey results will be analyzed and summarized in an executive report and guidelines to raise awareness of the benefits of using early warning signals in making strategic business decisions.
MindForest is a Luxembourg-based consulting and training company that has been assisting management teams and managers for more than twenty years in all types of projects related to change (culture, modernization, restructuring, etc.). By combining expertise in change management, organizational optimization, corporate communication, human resources management and documentation, MindForest is the first Luxembourg-based company to offer a comprehensive response to the most complex issues facing companies today.
About Luxembourg School of Business (LSB)
Luxembourg School of Business (LSB) is an international graduate business school focused on providing an inspiring and multicultural learning environment for current and aspiring business leaders from Luxembourg as well as from across Europe and the world. In achieving its educational and academic goals, the School uses contemporary teaching and research methods, promoting cultural and intellectual diversity. The School is accredited by the Luxembourg Ministry of Higher Education and Research.