Centrica is a large multinational company based in UK which is known and trusted by millions of consumers. It remains the largest residential supplier of gas and electricity in UK. It is also the largest domestic central heating installation and maintenance company.
The long term objectives of Centrica are summarized as: to expand the business agressively and offer above average returns to stakeholders and to be tnimber one or two leading supplier of gas and electricity in UK and internationally.
Centrica’s key targets will be achieved over the next 3-5 years are as follows: increase operating profit by 60%, operating and overhead costs reduction, achieve an expansion of efficient infrastructure, achieve a develop system and improved process, become the largest supplier of gas and electricity over Europe, and employ fully qualified employees and engineers.
From the objectives of the Centrica, the following are the strengths, weaknesses, opportunities and threats seen from the company:
- Strong financial performance
- Dedicated and professional employees
2. Vertical integration
A. High prices of commodity
B. Lack of upstream gas assets
C. Customer Losses
4. Undeveloped system and un improved process
5. High operational and overhead cost
- Competitive marketplace
- Volatile market conditions
- Additional supplementary tax charge on gas production profi
Centrica’s strategic priorities are the following: rigorous cost reduction across the Group to allow lower prices on the commodities, proactive marketing to strengthen customer loyalty and cope up again the large customer loss from this year, positive price management to sustain proﬁtability, building growth in our service and energy businesses at home and abroad, and absolute ﬁnancial discipline in acquisition and capital investment.
Strategic Action Programs
The following strategic programs will be implemented:
A. CEO: Prepare comprehensive business plan
B. HR: Recruit Marketing Director and other key staff for marketing and sales
C. HR: Train newly recruited staff
D. Director of Development: Prepare a development plan for power station infrastructure
E. Director of Development: Present to CEO for approval
F. Director of Development: Start the infrastructure building
G. Group Managing Director: Seek out new markets in Europe for further expansion
Shown below is a Gantt Chart to show when the task should be completed.
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