2022 Strategic Initiatives Portfolio and Focus Pillars

As the beginning of our Strategy Talks series, we decided to write about our strategic initiative pillars and what they consist of. An integrated strategic planning process, when used properly, can help companies of all maturities achieve long-term success. It can provide a level of alignment that enables the company to develop into one that is strategically focused. It can connect a shared corporate vision with actionable goals and metrics that boost productivity and expansion. It can serve as a growth engine for companies attempting to advance to the next level, or a roadmap for companies attempting to proactively handle opportunities or difficulties in a rapidly changing environment.

Strategic initiatives play a significant role in the strategic planning process since they are the specific actions intended to assist the organization in achieving its target strategy. At the core of our strategic initiatives at Borusan Cat, there are four pillars that outline how we will fulfill our purpose. The pillars represent our fundamental objectives, which are achieved by putting deliberate and practical strategies and tactics into practice. These pillars are customer, excel, grow and capabilities.

Industries are embracing the idea of client centricity and shifting away from managing by accounts, policies, or transactions. Personalization and client focus must be present in every part of business, from marketing through purchase and service. These strategies that are implemented to improve the caliber of service provided by the company are viewed under customer pillar. With the help of these initiatives, clients will receive service that is distinctive and memorable since they entail the business taking steps to determine what the clients actually want and providing it to them. Keeping with our vision of being a solution provider, in 2022, under the customer pillar, we have been working on Customer Experience, Proactive Solutions Management, Key Account Management, and Digital Excellence & Value Creation with E-Business initiatives.

Excel focus area deals with optimized cost to serve and ways to achieve improved profitability. The activity-based costing methodology gave rise to the effective cost and profitability management tool known as "cost to serve," which enables a precise understanding of the profitability of a product or product category for each customer and endpoint. The major goal of this methodology is to determine which clients are profitable and which are truly losing money by calculating the whole cost of providing a good or service to a customer, accounting for all activities required to complete delivery and collect product revenue. We have been working on initiatives like Market-Based Dynamic Pricing and Customer Support Transformation for that pillar in 2022.

The secret to successful companies is controlled and sustainable expansion. Business growth is the stage at which a company expands, and this may occur when a business boosts sale, launch more products, or services, or expands and maintains its customer base. Building a growth strategy that achieves outcomes ultimately comes down to creating the framework and attitude that team needs to develop, as well as giving them lots of room and flexibility to keep getting better. Thus, the best growth strategies are the ones that innovate and digitize in order to develop with core and new solutions. In line with our vision ‘We create solutions for a better world’ under grow pillar, we have been working on Value Creation with CVA Model, Build Exchange Business, Remote Services, Mining Technologies, Alternative Energy Strategy, Solution Hub and Borusan Cat as a Manufacturer to ensure the growth combined with innovation and digitalization within and outside of the company.

Our rapidly changing, digital world is creating a tsunami of change that is constantly changing. Consequently, the new competitive advantage is adaptability and companies need to develop competencies and redesign their working methods to become an agile organization. Therefore, a flexible system that can handle complexity is required. As a result, at Borusan Cat, we continuously aim to create a technology-capable, flexible, and customer-focused organization. In order to create high-performing teams that are essential to producing flexible results, under the capabilities pillar we are deliberately working on Establish Solution Culture, E2E (End-to-end) Competition Tracking, and Talent Pool initiatives. They are enabled by cross-functional and connected members that apply new ways of working.

The strategic planning process offers companies the chance to assess the real critical success factors that will make the strategy function and develop efficient strategic initiatives in accordance. For this reason, we move forward with targets within the company and continue to work for our customers, colleagues and shareholders towards to be a solution provider and work under 4 pillars for strategic initiatives which are customer, excel, grow and capabilities. We will dive deeply under each pillar and talk about the scope of our strategic initiatives in 2022 in our next topics.

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