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BELCO - 2001 and Beyond

CARILEC Presentation Len Malloy. BELCO - 2001 and Beyond. 2001 CARILEC CEOs SYMPOSIUM Grenada June 20-22. Why make changes at BELCO?. Position the Company to succeed in the future in a less certain business environment Position the organization to be more strategic in its thinking

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BELCO - 2001 and Beyond

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  1. CARILEC Presentation Len Malloy BELCO - 2001 and Beyond 2001 CARILEC CEOs SYMPOSIUM Grenada June 20-22

  2. Why make changes at BELCO? • Position the Company to succeed in the future in a less certain business environment • Position the organization to be more strategic in its thinking • Streamline the organization at all levels • Strengthen management bench strength • Plan for orderly management succession

  3. BELCO’s Vision has not changed, however…. • Inherent in the Vision and Drivers is our need to define and develop even more effective processes by • Rethinking what we do and how we can do it better • Linking all the disparate elements of our work into processes that collectively build results • Making process management the fundamental way we manage our overall business • With this process analysis and definition there is a better opportunity to reshape the way BELCO accomplishes its objectives

  4. How is Function different from Process? • Function • Based on organizational units • Vertical in nature • Ownership of issue disappears with handoffs • Concern is about getting individual tasks done • Promotes inconsistent application within units • Process • Based on work to be done irrespective of the organizational unit • Horizontal in nature – cuts across department lines • Concerned about how work gets done • Reduces & removes handoffs • Promotes consistency & focuses accountability

  5. CHANGE IS DIFFICULTWhat makes change happen? • By • working as a team • thinking corporately • trusting and respecting each other • By • being good communicators • being in touch with employees and their issues • engaging and motivating employees to do great things • By • not being satisfied with the status quo • envisioning beneficial change • pursuing change with passion

  6. WHAT HAS BELCO BEEN DOING ? October 2000 Strategic Planning Sessions Macro Processes D&E Macro Process Corporate Processes BUSINESS & SYSTEM DEVELOPMENT HUMAN RESOURCE MANAGEMENT Energy Supply Core Process Energy Delivery Core Process ER&CC Macro Process FT&SS Macro Process HR Macro Process

  7. October 2000 Strategic Planning Sessions Macro Processes Corporate Process BUSINESS & SYSTEM DEVELOPMENT • The process of generating and assessing opportunities for creating value for the corporation, optimizing the allocation of time and money to those opportunities, and assigning accountability for implementing them. Opportunities will come in several forms • New business opportunities • New and improved products and services for customers • Maintenance and better utilization of current assets • Expansion of asset base • Island stewardship • Key constituency relationship development • Employee development • The process also includes an assessment of threats to the business and assigns accountabilities to address those threats.

  8. October 2000 Strategic Planning Sessions Macro Processes Corporate Process BUSINESS & SYSTEM DEVELOPMENT A corporate level process about ‘tradeoffs’ (Opportunities and Threats vs. Investments in Time and Money) which assesses management time, Capital $, O&M $, People capability, Asset preservation, Operating performance & Stewardship (Customers, Shareholders and Community) • Principle output? A Schedule of Initiatives incorporating the following: • Requirements for Energy System (direction for core business processes) • Direction for new business opportunities (products/services) • Financial Perspectives (budget targets and constraints) • Constituency campaigns • Redirection for the Group strategic input documents

  9. B&SD Corporate Process: Macro Summary D&E Annual Strategic Planning Doc • Finalize Budgets and Performance Targets • Outputs • System Development Plans • O&M Budget • Capital Budget • O&M Performance Targets • Image and Customer Relations Targets • Technology Strategy • Fuel Strategy • M&A Strategy • Marketing Strategy • HR Strategy ES Annual Strategic Planning Doc Digest Inputs and Develop Macro Strategies for 1, 3 and 5 Years Monitor Results and Take Corrective Action ED Annual Strategic Planning Doc FT&S Annual Strategic Planning Doc ER&CC Annual Strategic Planning Doc HR Annual Strategic Planning Doc Strategic View September Continuous View Operational View Oct. - Nov. Executive HRM Corporate Process

  10. November 2000 - Team Development of Macro Processes Development & Environment Corporate Processes Business & System Development Human Resource Management Energy Business Review Energy System Optimisation Energy Business Implementation

  11. Jan–Feb 2001 Finalization of Macro Processes Strategic Sub-Process: Energy Business Review How we’ll create new value for the Company

  12. What Next ?

  13. BELCO - 2001 and Beyond Thank You !

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