Focusing the organisation on a single set of priorities
Each year the Group Executive Committee (GEC) sets the top priorities for the financial year ahead. This provides focus to the organisation on what we need to achieve in the short term to progressively realise our medium to longer-term strategic business objectives. For 2016, the GEC retained the four priority areas that were in place for 2015, albeit with certain changes in emphasis. The 2016 priorities address the key deliverables for our Business Performance Enhancement Programme and the Response Plan to mitigate the impact of a low oil price environment.
Our 'improve safety performance' and 'enhance business performance' priorities take into account our commitment to continue to improve our safety and operational performance. Under our 'enhance business performance' driver, we place equal emphasis on both cost optimisation and cash conservation, from a previous focus on only the former.
Against the backdrop of a volatile macroeconomic environment, we are now referring to 'maintain sustainable growth' rather than 'accelerate sustainable growth'. This recognises the fact that we are refocusing our project portfolio and reprioritising our key projects, in line with our Response Plan objectives.