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CIPS Business Plan FY 04. Sector Mining February 2003. PwC. Industry Sector Vision.
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CIPS Business PlanFY 04 Sector Mining February 2003 PwC
Industry Sector Vision We aim to be the preferred provider of services to the most important companies in our sector: these companies are important due to either size and reach, or strategically important due to their unique geographic or political positioning in the global marketplace. One of our core drivers is to maintain our dominant position in the mining industry through outstanding service and thought leadership. We will be the firm of choice for audit and related governance and controls services to this sector, and will also provide leading edge taxation, legal and financial advisory services (including M&A and regulatory) where our clients permit a broader range of services from their auditor. For non-audit clients, we will be selected as the primary provider of the widest range of services from all service lines. Our raison d’etre is to add value to our clients through outstanding service and quality of advice, helping our clients find success in turbulent markets through robust, ethical governance and management practices.
Strategic priorities • SEC - address current GAAP mining issues being raised by the SEC and develop and submit comments on those issues to the SEC (refer to “External Positioning” for further details). • FRIM – Updating of the publication Financial Reporting in the Mining Industry for the 21st century (refer to “External Positioning” for further details). • Gold Survey – has been done for North America in previous years. To be expanded into a more global project in FY04. • Mining Value Reporting - Launching and follow-up on our mining Value Reporting project. • Business Compass – Develop Business Compass materials for Mining. PricewaterhouseCoopers
Clients and targets • PwC 300 Client Programme • BHP Billiton • Rio Tinto • The sector only has two clients in the PwC 300 program. The nature and size of the industry dictates that most of our significant clients will form part of the PwC 1000 by virtue of size, strategic importance to a region or political positioning in the global market place. An extensive amount of our efforts will be focused on these clients. • Team meetings and APWs • Account plans These will be drawn up by June 2003 for presentation at APWs and team meetings to be held prior to our global mining conference. These will be relative to the audit work done by PwC in the 2003/2004 year. • Client satisfaction surveys These will be conducted annually. BHP Billiton will be done by the Australian firm and sent out around September 2003. Rio Tinto has a very comprehensive program controlled by Rio’s internal audit department. This will be done again for the December 2003 audit and results collated for the audit committee. • SRP visits BHP Billiton is done by Paul Brasher (Chairman of the Australian firm) – to be done after audit prior to December 2003. Rio Tinto – done by Hugh Cameron in February/March of each year after the audit. • Channel Two activity Both are SEC listed and both have audit committees which limit the channel 2 work that can be done. However, opportunities are constantly sought after in tax, sustainable development and SEC advice. The main focus of our service to these 2 clients is to ensure we retain their audit and grow our fees with their acquisitions. • Revenue targets Our target would be to grow our fees by at least 5%.
Clients and targets Key Performance indicators For PwC 300 see previous notes under clients and targets. The main thrust of our targeting will be in the PwC 1000 or regionally imported clients.
External Positioning:Market Positioning Advertising In general, advertising is regionalised and funded out of territory budget. However, period advertisements are done on a global basis in the Mining Journal Events/Sponsorship Annual Mining Indaba – South Africa PDAC conference – Canada These are global conferences at which the majority of our clients are present Public Relations Regionalised and targeted at specific regional clients Territory budgets used for this activity
External Positioning:Thought Leadership SEC Project The goal of the Mining SEC Working Group is to form a global group of mining industry companies, led by PwC and advised by other mining companies and other Big Four accounting firms, to address current GAAP mining issues being raised by the SEC and develop and submit comments on those issues to the SEC. FRIM – Update the publication “Financial Reporting in the Mining Industry for the 21st Century”. This is dependant on completion by the International Accounting Standards Board (IASB) of their extractive industries project (We are involved in this project). Global Gold Survey – This survey has been conducted for North America in the past and will be broadened on a global basis. Metals Market Sentiment – This is a publication which is produced every quarter. It communicates future prospects for metals prices as indicated by our poll of analysts, producers and other parties in the industry.
External Positioning Key Performance Indicators • Delivery of projects within a reasonable time frame. • Enhance PwC brand in the mining industry. • Profile PwC as being active and interested in our industry. • Increase media coverage.
New Propositions/ Product Development SEC - address current GAAP mining issues being raised by the SEC and develop and submit comments on those issues to the SEC FRIM – Updating of the publication Financial Reporting in the Mining Industry for the 21st century. Gold Survey – has been done in previous years. To be expanded into a more global project in FY04. Mining Value Reporting - Launching and follow-up on our mining Value Reporting project.
New Propositions/ Product Development Key Performance Indicators • Delivery of projects within a reasonable time frame. • Enhance PwC brand in the mining industry. • Profile PwC as being active and interested in our industry. • Increase media coverage. • Maintain a leading position in the industry.
Knowledge Management • PwCGlobal.com Maintain, develop, publicize newly integrated Energy, Mining & Utilities internet site including mining content. KnowledgeCurve Ensure smooth transition for users to newly integrated EM&U Kcurve. Develop Business Compass materials for mining. Communications Program Continue with quarterly mining Newsflash leadership message Develop nested mailing groups for mining in coordination with E&U Leverage Mining automatic publications for automated delivery of E&U publications. Continue with subscriptions to Mining Journal and Australian Metals Economics.
Knowledge Management Key Performance Indicators • Increase viewership statistics for EM&U Kcurve by at least 15% • Complete Business Compass materials (for mining industry) and roll out within 6 months. • Conduct satisfaction survey after transition. • Improve Kcurve content for users. • Enhance Kcurve so that it provides immediate and accurate proposal support.
Learning and Education • The IP Insights program – Maintain program, keep it up to date and migrate it to the E&U site. • Regionally tailored mining courses in: • South Africa • Canada • Australia • Annual North American School of Mines • Face to face leadership meetings • Regular teleconference between global Mining leaders
Learning and Education Key Performance Indicators • Achieve a smooth migration of Mining to Energy & Utilities on KnowledgeCurve within 6 months. • Monitor usage of L&E solutions to provide proposal support. • Course evaluation forms to be completed after every course. • Increase hits to IP Insights by effectively marketing the program.
