Page 5: Evaluating a Business Strategy
The benefit of setting a clear strategy and outlining objectives and plans is that management has a clear basis for monitoring and reviewing its progress towards achieving its vision and aims. There are four main ways that SFIL monitors its environmental strategy. These are:
- Physical monitoring and measuring
- Key performance indicators (KPIs)
- Internal and external auditing
- Environmental benchmarking
SFIL continuously monitors emissions to air, water and sewer to ensure they are below permitted levels. The KPIs, set by management at the start of the process are discussed and
reviewed on a monthly basis. These are used to illustrate, assess and review trends in order to track whether strategic objectives are being met. Internal and external auditing is an
essential aspect of the strategic process. The British Standards Institute (BSi) audits SFIL’s performance against the ISO 14001 Environmental Management System (EMS) standard every six months to ensure the Company is fulfilling its obligations in order to retain this certification. Having an ISO 14001 EMS gives the Company a competitive edge as it guarantees to customers that as part of their supply chain, SFIL is performing to a high environment standard.
The audits give SFIL invaluable, impartial, qualitative feedback on performance and on employee’s awareness of the environmental regulations, reinforcing SFIL’s commitment to
achieving the highest degree of environmental management. The whole strategy is then formally reviewed at an Environmental Review meeting held on an annual basis with
the Directors and Senior Management of the Company.