Strategic focus |
Objective |
Mitigates |
Targets 2017 |
Growth
- Organic
- Procure new business
- Improve financial performance.
|
Organic growth
- Doing more with what we have to improve returns
- Business development initiatives
- Vertical integration for improved business value.
|
- Ability to secure new work
- Cost pressures for related services
|
- Increasing operating margins
|
Procure new business
- Market intelligence
- Identify opportunities.
|
- Reliance on tendered work
|
- Order book growth to 2,5 times revenue
|
Improve financial performance
- Improve customer cash receipt cycle
- Settle legitimate claims speedily
- Structure balance sheet appropriately
- Align supplier-subcontractor payments to our
customer receivable cycle
- Arrest further losses on distressed projects
|
- Need for working capital facilities
- Volatility in earnings
|
- Optimise the working capital cycle
- Reduction in lead times for claims
resolution
|
Asset productivity |
- Deliver at a better rate (outperform competitors and
excel at winning tenders profitably)
- Manage scope of work (negotiate scope changes while maintaining positive relationships)
- Improve operational cost management
- Improve agility (flexible and responsive to change)
- Significantly improve productivity (on-site activity improvement).
|
- Probability of loss-making contracts
- Reduction in order book
|
- 5% improvement in productivity on site
- Overhead cost reduction to 4% of revenue
|
Corporate culture |
- Review all businesses to determine their fit in the
Basil Read strategy and develop clear action plans based on this analysis
- Assess policies and procedures against the requirements of the restructured company
- Transform corporate culture to align with strategy for a better and more valuable business.
|
- Retraining employees when
redeployed internally
- Ability to attract and retain talented individuals.
- Teamwork, empower staff, trust, respect and lead by example
|
- Common policies and procedures
in key areas by end 2017
- Transformation barriers continuously eliminated.
|