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TIO MAC Report Statement of Corporate Intent 1 July 2008-30 June 2009



TIO MAC Report Statement of Corporate Intent 1 July 2008-30 June 2009

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Tabled paper 541


Tabled Papers for 11th Assembly 2008 - 2012; Tabled Papers; ParliamentNT




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1 OVERVIEW 1.1 Transition to a new strategy TIO transitioned from our stated strategy into a new strategy in 2008/09. As we faced the challenges of a more competitive market and the global financial downturn this year, defining our purpose and role in the community became even more important. In October 2008 TIO's Executive team, in consultation with the Board and Northern Territory Treasury commenced a full business review. The process began by seeking to define our reason for existence, understanding that at its inception TIO was created to resolve market failures in the marketplace in the areas of workers compensation and motor accidents compensation. Over the years, TIO has diversified to include commercial operations. Today TIO believes its purpose has evolved into: "helping build confidence and resilience in the Territory'' By defining our purpose it has allowed us to refocus our efforts on doing the things that are important to the Territory. Transitioning from our 2008/09 key corporate priorities of: Customer service culture Business process improvement Staff engagement Customer segmentation Indigenous strategy Diversification to a new strategy of simplification and fulfilling our purpose, being more flexible & niche in the way that we operate whilst delivering a long term sustainable organisation that builds value for all Territorians; framing our strategies were four strategic imperatives: 1. Stick to purpose: we are devoted to our purpose, helping to build confidence among Territorians in terms of people's possessions and future, as well as helping build resilience, particularly to extreme weather events, and to injuries arising from motor vehicle accidents. 2. Organisational size and structure: we need to think differently on how best to service our customers within the context of our environment. The organisation needs to be nimble and flexible, and provide the best access solutions in product and services for the size and needs of the Northern Territory market. 3. Improve business performance: focusing on core business growth and improvements in TIO's operating efficiencies, TIO is committed to the achievement of industry benchmarks and indicators, thus providing confidence to our customers and the community that we will be here when they need us.