Developing Strategy

At the strategic level the corporate objectives are converted from carefully structured objectives and goals into rigorous strategies to ensure that these objectives are met within the timeframes required. Strategy definition represents step 2 and step 3 of the defining performance graphic first introduced within Chapter 1 of this book. (See Figure 3.1)

Figure 3.1: Defining Performance

This area is a detailed section of work that requires a lot of understanding of the organizations business and operating environment as well as asset management in general.

The key objectives of the work done at this level are-

1. Ensuring that corporate objectives or goals remain confidential where necessary.

2. Defining the strategies required for achieving the desired levels of performance that were defined as corporate objectives and goals.

3. Defining the indicators used to measure the achievement of the goals of these strategies.

The MSC is focused on the creation of competitive advantages, that is, identifying differentiating capacities or capabilities that will increase the organizations ability to compete. Whether this information could compromise the competitive ability of the organization, it needs to remain confidential, which in itself poses a challenge. Some employees can often divulge confidential information accidentally if they are not accustomed to having such information. Furthermore they may deliberately divulge confidential information if they suddenly become disgruntled for some reason or other.

For example, in many minerals-producing and processing industries, one of the key client requirements is the continuity...