Page 2: Vision
Senior management must provide a clear focus that is communicated down through all levels of the business. In such a highly competitive industry as steel manufacturing, developing a clear strategy is vital to establish a planned way forward in order to maintain and continually improve performance over time.
Strategies are pre-empted by a clear understanding of the reasons for a business existing and the setting of long-term goals. The starting point for this is the compa
ny’s vision statement (sometimes referred to as its mission statement). A good vision should strike a balance between what is achievable and what is challenging. It is widely believed that a business that has a clear vision will out-perform those that do not have one.
Contemporary heavy engineering is governed by tight legislative requirements. SFIL not only strives to meet these, but aims to go above and beyond them where there is a distinct business or environmental benefit in order to fulfil its vision. The acronym MOST gives a good guideline for the hierarchy and basis of a strategy.
Once the company vision/mission is established, SMART objectives should then be set as the basis for management to work towards fulfilling that vision. A programme of prioritied long term and short term actions to meet each objective is then formulated to implement the overall strategy.