STRATEGIC PLANNING & VALUE-BASED MANAGEMENT
Our client is one of Thailand’s major conglomerates with businesses in manufacturing, agriculture, and energy with a combined turnover of THB 20Bn annually.
CLIENT'S BUSINESS CHALLENGE
Prior to Bridge Consulting’s engagement, our client did not have common corporate governance and direction.
Each department within the organization plans its own activities with limited understanding of how it would integrate and deliver shareholder value and enhance performance for the overall organization. It also has limited system to track actual performance of departments and staff against plan, as well as a lack of conformance.
This lack of understanding of performance and conformance resulted in limited motivation for staff to drive the bottom line of the business.
BRIDGE CONSULTING'S ROLES
Bridge Consulting works with the client’s Strategic Planning and Corporate Finance team to redesign strategic planning activities which started with conducting strategic planning workshop, identifying 3-year action plan aligned with its strategy including design of performance/conformance management system to track value creation performance (economic profit), and redesigning incentive system linked to economic profit performance.
The project helps the client realign all activities towards the goal of maximizing shareholder value. Each individuals now understand how their performance contributes to the bottom line of the business.
The incentive scheme increases staff motivation to perform better on a daily basis. This results in a major increase in value creation performance in the past three years.