COPY 250221: Strategies as Maps - TEMPLATE

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Where to Play

Focus Applications

Notes

Process gap - to fill knowledge gaps and specific enquiries.

Low level of knowledge/experience present (and risks to existing)

Steam Generation

Storage Tanks / Farms

Turbines

Condensate Usage / Recovery

Steam Distribution

Heat Exchangers

Tracing

Focus Sub-Segments

Consumer

Specialty / Performance

Basic / Commodity

Alternative Fuels

Gas Processing

Petrochemical Manufacture

Petroleum Refining

Financial Objectives

AG: Key is underlying MRO growth

Gross Margin: Gestra 48%, Spirax Sarco 64%

ML: Chemicals sales more ot process (higher GM)

ML: Easier for Gestra to increase GM in this market.

8.2% CAGR

Gross Margin: Gestra 49%, Spirax Sarco 59%

ML: Gestra margin expected to be lower in O&G; seen as high price in this market

7.4% CAGR

Vision

Recognised by customers as the world leader in Steam and Thermal Energy Solutions

OC: "Recognised" - what does that mean? In terms of reward to the business.

ML: Mission? Regarding the customer. The benefit from working with us.

Key Strategic Initiatives

Market Expert Sales Force – Sales team training: industry, applications, customer pain & solutions

“First Fit” Approach - Develop detailed, coordinated strategy, X-Chart & annual improvement priorities

Applications/Process Experts – Create SME Team and improve knowledge & coverage in focus regions

Service & Audit Capability - Best practice and gap analysis. Alignment with SBD Services portfolio strategy

Marketing and Training - Create portfolio, aligned with “Where to Play”, “How to Win” & customer drivers

Success Drivers

Market Expert Sales Force

Sales Excellence process - how to leverage? How to build around the key accounts

Mix of KAMs and SMEs

Not just about the existing knowledge - how do we get fast knowledge transfer

“First Fit” Customer/Opportunity Management

As above

Shared

Leveraging Brand Synergies (Inc. MIC Maturity)

Market Aligned Product Portfolio/Processes (inc. Digital)

Evolution from product to process solutions?

Standardised & Consistent Service Offering

Alignment with Sakis's service strategy

Focused Marketing and Customer Training

Gap analysis? Existing, but spread across functions?

Market Applications/Process Experts

Line between consultative and governance

Solutions/proposals governance

End user - "feet on the ground"

Project governance

Central/regional etc

See above

How to Win

CVPs

Process Productivity

Energy & Sustainability

Expand & Refurbish

Maintain & Repair

Competitive Advantages

Notes:

Strong/aligned supply chain

Products/solutions

Interfaces/processes

Unmatched Relationships & Trust (Inc. Brand Reputation)

Standards/association

drive from centre

Output from the above +relationships

Unparalleled Technical & Aftersales Support

Systems for the link GOGC to rest of org

Combination of local/central

The Leading Knowledge Partner

Need the types of knowledge "delivery system" to match the customer need

Diamond approach (2x Cheese wedges)

Consider People, processes and sytems

As above (under approach)

Approach

Chemicals

ML: Alliances/partnerships

ML: Projects needed

Oil, Gas & Petrochem

Approach notes:

Aftermarket ONGOING - service capability with end user.

Product, system and process knowledge

Aftermarket INITIAL - EPC Contractor (for early site access/commissioning - leads to end user maintaining that relationship with contracts).

Product knowledge

First fit - partnership - problem solving throughout project, knowledge recognition and ability/trusted to take work (value add) [meet schedule and minimise risk

At EPC stage: more product/steam systems

In FEED: steam system and process

First Fit - project execute

First Fit - Opportunity management; inc. relationships with specific project teams in EPCs (EPC level 2 relationships)

First fit - key account management (EPC level 1 relationships)

First Fit Customers = EPC Contractors, Feed Contractors (Process Licensors)

End users - knowledge partnerships - value add problem solving and expertise (4 drivers)

Service capability

Processes

Steam system

End users - key account management