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Hub strategy for UK offshore asset - cultural move from adversarial to collaborative​

Situation​

 

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.​

Task

The task was to develop a hub strategy for the asset, incorporating full input & contribution from Company ‘B’s Functions​

Action​

  • 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​​

Results​

  • 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​

Key insight

 

Investing sufficient time to provide a high trust environment was critical for removing functional boundaries and achieving genuine contribution from individuals​

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