1. Aligning our vision and strategy to serve energy users

1 October 2019

Stanwell’s vision, Together we create energy solutions, commits us to working with our customers, neighbours, host communities, business partners, regulators and owners to evolve the way we do business, so that our stakeholders and our business both benefit over the long term. In an industry which is rapidly changing, we believe our business will only remain relevant if we work with our stakeholders to ensure they are better off for our presence.

Our strategy converts our vision into a practical plan for the future. Short-term, our strategy focuses on security and affordability for consumers by running our low-cost power stations at sustained high capacity; while longer-term we are meeting consumers’ changing needs by evolving our products and services.

Each year, we invite stakeholders to have input into our strategy process by speaking at our annual strategy workshop. This workshop is attended by our leadership group. Following these stakeholder sessions, our leadership group works together to evolve our strategy in response to the insights from our stakeholders. From 2019 onwards, we will invite stakeholders to participate in formulating our strategic response to key issues which they raise.

During 2018, we conducted employee surveys to determine our people’s understanding of:

  • Our vision and strategy;
  • How their role contributes to our vision and strategy; and
  • Whether the vision and strategy provide meaningful direction for them.           

The 2018 survey indicated our vision and strategy are clear and understood by a broad cross section of the business, with 68 per cent of our people agreeing or strongly agreeing that they understand how their role contributes to Stanwell’s vision and strategy.

However, feedback received through the survey indicated that there are parts of our business where our people do not receive consistent messages about how the work they do contributes to outcomes for our stakeholders and our business. As a result, it can be difficult for our people to make day-to-day decisions that balance the needs of our customers, neighbours and host communities with the commercial requirements of the business. We are working to improve this area, and we will survey our people again in 2019/20 to understand how successful our efforts have been.