Why do L&D business cases fail?
To understand what business case success looks like, let’s first look at what failure looks like. Failure takes place when the business case:
1) Is not in line with strategic business objectives
2) Lacks recognition of what is important to the CEO and CFO
3) Requests spend without financial benefit projections
4) Uses HR and learning industry terminology that is a “different language”
These failures all have one thing in common: they all relate to an L&D-driven agenda and not a business-driven agenda. To develop a successful business case, you must consider how it is perceived and how it will impact the greater good of the organization.
Who can tell you how your business case is perceived and how it will impact the greater organizational good? No single stakeholder can. In fact, according to CEB, the average number of individuals involved with today’s buying decision is 5.4. This buying team will often have differing agendas. That means that in order to get a cloud-based learning business case approved, you’ll need to identify each of the buying team stakeholders and then secure their support by tailoring it to their specific priorities.