In May, the group launched the construction phase of its new strategic plan with a target codenamed ‘5.5.5.’: 5 billion euros in 5 years and 5 activities. « Although the major objectives have been identified, » Jean-Louis Bouchard said, « we now need to define all the other parameters to make this strategy an action plan for every business line, every country and every colleague. »
At the start of the year, the group set out its ambition to return to growth after a phase that, as Angel Benguigui reiterates, « was dominated in previous years by a successful consolidation. » Four factors are driving the plan. The aim is first, as Samira Draoua stresses, to « share a common trajectory to shape Econocom’s future and onboard its teams » in this new project, which is also designeed to make the Group a model employer. That involves defining the plan’s business model, offerings, revenue, profitability, investments and structure by exploring the growth potential across our core markets and locations, but also by examining new sources of diversification and acquisition.
Second factor: Patrick Van den Berg cites « fast-changing markets driven by technological acceleration and growing client requirements and expectations. » A third factor is linked to the changing economic environment, particularly with inflation and rising interest rates. Finally, the fourth factor: Véronique di Benedetto highlights « new expectations of environmental, social and governance (ESG) and the circular economy. »
This work is being supported by the firm BCG, which has significant experience of similar projects, with thorough knowledge of both our business lines and geographies. Development of the plan is set to be staggered over three phases. The first (15 May to 23 June) will make it possible to establish a shared assessment. A second phase (26 June to 8 September) will concentrate on the plan’s initiatives and business trajectory. Finally, the third phase (11 to 29 September) will focus on the financial trajectory, and the results will be revealed shortly thereafter. The plan will be constructed from interviews and internal workshops involving forty or so senior group executives as well as client surveys, taking an approach that situates the initiative as close as possible to their requirements and expectations.
The project’s leader Alexandre Murati, also Deputy Chief International Officer, is beavering away with BCG alongside others to ensure successful delivery of the plan. « It’s a demanding but inspiring project, » he explains, « that will enable us to share a joint development framework in the years to come. » That view is confirmed by Group Chief Communications Officer Olivier Beaunay: « Whether at Econocom or elsewhere, financial targets alone aren’t enough to motivate the teams. The plan has to give us a strong collective ambition so that everyone can play their part. »
That expression is similar to the cathedral analogy often made by the group’s Chairman, whereby everyone must be able to contribute at the same time to valuable work and a collective effort with a long-term view.
