We develop our business strategy using an iterative process at each of the key levels of our business such that we have:
- a Group strategy
- sector strategies
- business plans to guide the implementation of our sector strategies at a business line level.
Our Group strategy describes markets in which we intend to invest to create sustainable competitive advantage (leading to greater market share and/or higher margins) and deliver on our corporate vision. Our sub sector or regional level strategies are a detailed view of these markets. At the business line level, we translate our sub sector strategies into business plans to deliver on the intent of the sector strategies as applicable to each business line. Our business plans map specific current and near term opportunities or portfolios of opportunities to the strategic themes, to provide clear and tangible targets for the individual business leaders to pursue, win and execute. Overall, our key markets continue to present challenges, including increasing competition and customers delaying committing to new developments. We believe that we took appropriate steps during FY2016 to identify opportunities to realign and position the Group to address these challenging market conditions.
Strategically, our immediate focus is on five strategic themes which are to:
- build a world class consulting and advisory business and dominate the early project phases;
- be the global project management consultant or “PMC” provider of choice;
- build a leading major Improve business
- be the smartest most agile local service provider;
- use the Global Delivery Centers to apply digital technology to revolutionize the delivery of future services.
Further details on the five strategic themes can be found on pages 10 and 11 of this Annual Report.
In the current market conditions, our priorities for the next 12 months are to:
- protect revenue by winning the right work;
- achieve the overhead reduction target;
- strengthen the balance sheet.