BDO Advisory have completed a strategic project with Jersey Electricity (JE), helping JE implement their carbon neutral roadmap through the creation and implementation of a strategic system.
See what Mark Preece, Operations Director at Jersey Electricity, and Andrei Voinescu, Senior Manager, Strategy and M&A at BDO Jersey had to say about the project. They elaborate on the benefits of the Jersey Electricity and BDO collaboration.
What were the business challenges?
Jersey Electricity has set a goal to be carbon neutral by 2050. Their carbon neutral roadmap and transitions in energy came with a lot of challenges.
JE needed support to tackle these challenges in a consistent and efficient way to serve the needs of their customers and the Island of Jersey. They also needed a standardised way of project delivery.
The target was to achieve a collaborative goal-setting methodology for teams and individuals, to set challenging, ambitious goals with measurable results.
What was the solution?
To help with all the challenges Jersey Electricity had, BDO’s Advisory Team implemented new ways of thinking, framing, and executing.
The BDO Team helped, focus the strategies of all the executive leadership team members, and aligned them together to work into a harmonious way.
They also introduced a new way of managing performances in JE by adding a new system called OKR, Objectives and Key Results, which is the same system that companies such as Google, Intel, and Microsoft credit their success to.
To improve communication and have a direct insight of the business BDO designed, built, implemented, and resourced the essential functions of a Strategic Management Office, which has since transitioned to business as usual.
What was the outcome/impact of the solution?
By working with JE for over two years, BDO’s team were able to establish a real partnership with both the CEO of Jersey Electricity and the Executive Leadership team. The BDO Team continued to support the new process in operation for a few months before going live. This enabled them to ensure that the new ways of working were properly embedded.
Jersey Electricity has now a well-established project management office and strategy management capability. These play an important role in JE delivering their change agenda in a way that's much more engaging and joined up than was previously the case.
They now have a business that's fully engaged in the journey of supporting the Island's energy transition in ways that were simply not possible before. our involvement and after we complete our work they can carry on and expand the solutions we have applied. JE have also gone on to expand on the solutions implemented by the BDO Advisory team.
For more information about how the BDO Advisory Team can help support your organisation's strategic initiative, find out more here.