Hub strategy for UK offshore asset - cultural move from adversarial to collaborative
Company ‘B’ acquired the platform from Company ‘A’. Each Function within Company ‘B’ had a differing view on how the new asset should be developed. Many competing priorities causing a lack of alignment and lack of progress. A low trust environment existed between the various Functions.
The task was to develop a hub strategy for the asset, incorporating full input & contribution from Company ‘B’s Functions
The hub strategy was used as a vehicle to align stakeholders, and drive cross Functional action to maximise value from the asset
The critical ingredients were; agree a common language (economics & assumption set), agree the objective (to maximise value for Company ‘B’), build a coalition across all Functions to contribute technical and commercial content in defining options, maintain regular and open briefings on progress for all contributors and stakeholders.
Establishing a integrating role model who became a valued coach for all Functions - providing clear process and independent support/challenge in developing the key building blocks
The hub strategy was developed and supported by all Functions. Executive Leadership supported the hub strategy and used it to align business plans and staffwork
Investing sufficient time to provide a high trust environment was critical for removing functional boundaries and achieving genuine contribution from individuals
We just sent you an email. Please click the link in the email to confirm your subscription!