Since the beginning of this year, the implementation of the corporate strategy of UMMC has begun. The goal is to build the most efficient company for the extraction and processing of non-ferrous metals and coal production in Russia by 2025.
The implementation of the corporate strategy is managed by the UMMC Directorate, at the April meeting of which the first managers of the company confirmed the strategic goals and discussed the first successes at ways to achieve them. The Strategy and Investment Department, a new subdivision created in the service of the Director of Transformation of UMMC, will coordinate the implementation of the strategy and provide analytical support to all services and enterprises involved in this process.
The corporate strategy implies the development of UMMC in five areas - strategic priorities : profitability of the company, competitive costs, development of the raw material base, investment efficiency, as well as social and environmental responsibility. Each of the five priorities has a specific strategic goal. The closer the company is to the target values by 2025, the more successful the implementation of the corporate strategy will be.
Achievement of the target values is to be ensured by strategic initiatives - sets of measures that will be implemented both at the level of directorates of the management company and implemented at enterprises of the group. At the time of approval, the corporate strategy included 15 initiatives, and following the results of work in the first quarter of 2021, three more were added. Each initiative has a responsible and executor in one of the specialized directorates of the UMMC.
- To date, we have approved 18 strategic initiatives. Some of them are already being successfully implemented, for example, we have been implementing a transformation program since the end of 2019. The other part is the activities that are still under development. All initiatives have a different focus, but they have one thing in common - they can be successfully implemented only with the participation of each employee of our company, - noted UMMC General Director Andrey Kozitsyn.
In this regard, one of the key tasks is in within the next month inform the collectives of UMMC enterprises about which strategic initiatives they will need to get involved in. In addition, all enterprises will have to bring their strategies in line with the corporate strategy of UMMC. Solving this problem will help ensure a unified approach to achieving the overall strategic goals of the company.