Territory Stories

9.1 The Board’s Strategic Directions 2016-2020 May 2016



9.1 The Board’s Strategic Directions 2016-2020 May 2016

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Tabled paper 1883


Tabled Papers for 12th Assembly 2012 - 2016; Tabled Papers; ParliamentNT






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3.3 Key strategies Using the guiding principles as a base, along with its assessment of the current state of the Corporation, the Board has adopted six overarching strategies, outlined in Table 3.2 below. Table 3.2: Key corporate strategies Strategy 1. Customer focus This means Embedding a customer focus in the way we deliver all our services. Customer focus must include internal service delivery. 2. Commercial sustainability Instilling high-level financial discipline, so that benchmark cost-to-serve and key financial targets are progressively achieved overtime. u> <u 01 u> 1/ 01 b 0 u 3. Whole-of-corporation governance and risk management Embedding governance and risk management processes into our culture so that we are confident in the integrity of our operations. Ensuring our whote-of-corporation (corporate) functional capabilities are aligned to business needs. This includes our cost to serve, service quality and corporate input costs being comparable to our peers and our corporate capability helping the business adapt to future industry change. 4. Line-of-business governance and operation Embedding tine-of-business accountabilities and multi-utility operations into our governance and management arrangements. Ensuring each line of business develops its own business strategy against which its efficiency and effectiveness can be measured, and compared with benchmarks from similar businesses. U) 01 (/) 01 c t: 0 Q. Q. (/) 5. Safety Aiming for zero harm. Ensuring our people go home safely at the end of each day. 6. People and culture Ensuring the capability of our people and the culture that we live contribute meaningfully to our success. 3.4 Strategic objectives and targets The Board has identified the desired outcomes, key performance indicators (KPIs) and targets set for FY20 (2019-20) associated with each of the six strategies to ensure accountability. The KPIs and the targets for each will be confirmed during the initial stages of the Business Transformation Program. The desired outcomes, KPIs and targets shown here are the top-level corporate goals. Management will take responsibility for these goals being broken down into sub goals and cascaded through the Corporation. This will provide the basis for establishing group targets and individual performance plans which will support the prioritisation, execution and ownership of change initiatives. The goals set by the Board for the period through to FY20 are outlined in Table 3.3 overleaf. THE BOARD'S STRATEGIC DIRECTIONS 2016-2020