Westpac China-Australia Business Sentiment Survey

Project Overview

The Westpac Business Sentiment Survey (WBSS) is a comprehensive report that uncovers business sentiments, trends, and demographics concerning Australian businesses operating in China. The report is a collaboration between the Australian Chamber of Commerce Shanghai (AustCham Shanghai), Westpac Banking Corporation, and China Skinny. It encapsulated data from 211 valid responses, analysed across 65 intricate questions. It provides valuable insights into the fabric of Australian business dealings and business sentiment with respect to China - Australia’s largest trading partner.

You can view the final report here.

My Role‍

As the principal architect behind the WBSS, my journey spanned 360 project planning, execution, and delivery. I was responsible for:

• Project Management:
  Oversaw project timeline, ensuring timely completion of deliverables.
• Research & Quantitative Analysis:
  Conducted comprehensive desk and field research to establish foundational data. Orchestrated case study interviews to collect essential insights. Executed and interpreted survey results, analysing 211 responses across 65 questions.
• Design:
  Utilized Adobe InDesign and Illustrator for end-to-end design. Incorporated photography to vividly convey data-driven narratives.
• Copywriting:
  Crafted the entire report, from case study interviews to data interpretation, ensuring a cohesive narrative throughout.
• Stakeholder Liaison:
  Collaborated with AustCham Shanghai and Westpac to synchronize the report with stakeholder expectations.

The Challenge

The WBSS seeks to gain deeper insights into the business sentiment and strategies of Australian businesses operating within China. The complexity of China’s market environment, combined with the diverse range of Australian businesses operating therein, poses a challenge. Accurate, actionable insights are crucial to help Australian enterprises navigate this market effectively and to equip them with strategies to succeed.

Project Objective

The primary goal of the project is to offer comprehensive insights into the opportunities and challenges Australian businesses face in China. By capturing both quantitative and qualitative data, the objective is to provide a robust framework for businesses to utilise, thereby enhancing their strategic planning and decision-making in relation to their Chinese operations.

Project Management

To ensure the success of the WBSS project, a systematic and structured approach to project management was crucial. I turned to the fundamentals laid out by Chris Croft's Project Management Fundamentals course as a foundation, tailoring it to the unique requirements and challenges posed by this specific initiative.

Steps Undertaken:

1. Success Criteria & Constraints Agreement:
   Collaborated closely with clients to mutually agree upon the success criteria and major constraints. Ensured these agreements were documented in writing, providing a clear roadmap and benchmark for project success.
2. Task Listing:
   Enumerated all tasks required for the successful completion of the project. This helped in visualizing the project's roadmap and key milestones.
3. Time & Cost Estimation:
   Allocated realistic timeframes and budget estimates to each task, setting the stage for efficient resource utilization.
4. Dependency Assessment & Critical Paths:
   Recognized dependencies between tasks and identified critical paths. This assessment enabled the projection of the overall project timeline, helping in setting realistic delivery expectations.
5. Gantt Chart Construction:
   Built a Gantt chart to visualize the project timeline, task dependencies, and key milestones. This served as the central tool for tracking project progress.
6. Time & Resource Calculations:
   Based on task estimates, deduced the time and resource requirements, ensuring the timely availability of necessary assets and manpower.
7. Progress Monitoring:
   Regularly checked project progression against the Gantt chart. This kept the project on track and aided in identifying any potential delays or challenges.
8. Stakeholder Liaison:
   Kept in constant contact with key stakeholders from all teams, ensuring a harmonized approach. Regular reviews of the report were undertaken to guarantee alignment and to incorporate feedback.
9. Report Delivery:
   Delivered report in its hard copy format and presented to key stakeholders. This involved public speaking and launch events, ensuring the research's findings reached a wide audience and achieved maximum impact.
10. Learning Review:
    Post-project, conducted a thorough review of learnings. This introspection paved the way for improvements in future projects.

Research & Analysis

The research phase was crucial to underpinning the entire WBSS project, ensuring that all findings and recommendations were rooted in factual, up-to-date insights about the intricate China market and the Australian businesses operating within it.

🔬Desk & Field Research

Comprehensively reviewed existing literature, reports, and other secondary data sources. Additionally, conducted on-ground field research to gather firsthand insights, enabling a richer, more nuanced understanding of the landscape.

💬Case Study Interviews

Orchestrated and conducted in-depth case study interviews with relevant business executives in the space. These interviews offered granular insights, capturing the nuances of different businesses' experiences in the China market.

📊 Quantitative Analysis

The foundation of our research was a meticulously crafted survey that sought to encompass the breadth and depth of experiences and perceptions related to the China market.

• Survey Execution: Executed rollout of a structured survey, ensuring questions were consistent, balanced, clear, and objective. The survey, hosted by Wenjuanxing, was opened for a span of six weeks, and we successfully garnered 211 valid responses across 65 diverse questions.
• Response Analysis: Each response was subjected to a thorough statistical analysis. This involved segregating data into discernible patterns, cross-referencing responses for consistency, and identifying significant trends or anomalies.
• Interpretation: Beyond the raw numbers, we dove deep into what these statistics meant in the context of the broader market environment. Factors such as market fragmentation, different business structures in China, revenue ranges, and industry breakdowns were carefully interpreted to derive meaningful insights.
• Integration: After interpretation, findings were seamlessly integrated into the broader report. The quantitative data served as the backbone, providing hard evidence that complemented and supported insights from other research methods.

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Copywriting & Design

Given the complex and multifaceted nature of the project, the presentation of information was pivotal. Not only was the quality of the research paramount, but the manner in which it was communicated to our stakeholders was equally crucial.

🖊️Copywriting

• Content Creation: Distilled the accumulated data and insights into clear, digestible text. This involved breaking down intricate details into comprehensive sections, ensuring each segment relayed essential information effectively.
• Consistency: Throughout the document, a uniform tone was maintained, balancing between professionalism and accessibility to cater to our diverse stakeholder group.

🎨 Design

• End to End Design: Employed Adobe InDesign and Illustrator for the comprehensive design process. This encompassed initial layout sketches, graphics integration, and final design executions.
• Photography: Incorporated selected photographic content into the report, some of which was captured firsthand. These images provided additional context and enriched the report's visual dimension.

💁🏽 Feedback and Refinement

The design layouts and copy underwent several iterations. Both Westpac and AustCham Shanghai provided feedback during these stages, ensuring the content and designs met the project's objectives and stakeholder expectations.

Stakeholder Management

Stakeholder management was a crucial aspect of the WBSS project. Given the diverse and high-profile nature of the involved entities, establishing clear communication, managing expectations, and ensuring alignment across all parties became imperative.

Approach to Stakeholder Management

• Identification & Prioritisation: Started by recognising the primary stakeholders across Westpac, AustCham Shanghai, China Skinny and various other entities mentioned in the report. By understanding the unique needs and priorities of each group, time, resources and attention were appropriately allocated.
• Clear Communication Channels: Set up regular touchpoints and updates with all key stakeholders via WeChat, email and fortnightly catch-up meetings. This was done to ensure that everyone was on the same page and to address concerns or questions in real-time.
• Feedback Integration: To produce a report that resonated with all audiences, feedback from Westpac and AustCham Shanghai was actively sought and integrated. This iterative approach ensured that the final document was a reflection of collective input and met the primary objectives set out at the project's inception.
• Presentations & Launch Events: Beyond the written report, there were also public speaking and launch events. Here, the importance was not just on delivering the content but also on ensuring that it was presented in a way that aligned with stakeholder expectations and resonated with the audience.
• Post-Project Review: After the report's delivery, a review meeting was conducted with all stakeholders to gather learnings, discuss the project's success areas, and understand potential areas for improvement in future engagements.

Outcomes

• Comprehensive Report: Successfully produced a detailed and cohesive Business Sentiment Survey report that delved deep into the complexities of Australian businesses operating in the Chinese market environment.
• Positive Stakeholder Feedback: Both Westpac and AustCham Shanghai expressed satisfaction with the final report. The iterative feedback process ensured that the document resonated with the primary audiences and met their expectations.
• Public Engagement: The launch events and public speaking engagements reached a broad audience, fostering a deeper understanding of the Australian businesses landscape in China and generating meaningful discussions among industry peers.
• Strengthened Relationships: Through consistent communication and collaborative efforts, solidified relationships with key stakeholders, positioning for future collaborations.

Learnings

• Flexibility in Approach: While planning and structuring were essential, it became evident that flexibility was equally crucial. Adaptability in the face of unforeseen challenges, whether they related to data collection, stakeholder feedback, or design adjustments, was vital.
• Value of Iterative Feedback: The process of continuously seeking and integrating feedback was invaluable. It not only refined the final product but also fostered stakeholder trust and involvement.
• Importance of Clear Communication: Establishing open channels of communication from the outset ensured that misunderstandings were minimised and alignment was maintained throughout the project.
• Skill Enhancement: Through the various aspects of the project, from research to design to presentation, there was a tangible enhancement in proficiency across various skills, showcasing the importance of hands-on experience.