THE DIGITAL ERA IS NOW
STRATEGIC PLANNING BOFINET’S APPROACH TO STRATEGY MANAGEMENT
BoFiNet has been developing and implementing medium-long term strategic plans aimed at driving and achieving its core mandate and the goals of the National Broadband Strategy and the Maitlamo Policy.
These strategic plans are anchored on the National Development Plans and the Ministry of Transport and Communications’ strategic plans. Over the years, the company has been developing 3-year strategic plans, outlining its Vision and Mission statements, Strategic Themes, Values, Strategy Map and Scorecards, using the Balanced Scorecard (BSC) Strategy Management Framework. It was only with the current Strategy, UNLEASH 2025, that the company broke the tradition and embarked on a 5-year Strategy. The scorecard acts as a planning and execution management tool, covering the Strategy plan period, with yearly targets for all the financial years and the strategic initiatives to be implemented. The company follows the 1st April – 31st March financial year cycles and consistently carries out mid-year performance reviews to inform alignment of subsequent-year targets. The Strategy formulation process involves rigorous engagement of the various organs of the company, covering Executive Management, Middle Management and Specialist cadres; the Board of Directors; and
selected external stakeholders, including the Ministry of Transport and Communications. BoFiNet has a Strategy Office, which manages the value chain of Strategy formulation and implementation development, cascading, monitoring and performance reviews and reporting. The company consistently carries out biannual Strategy reviews. This approach includes reviews of corporate performance and affirmation of objectives and indicators as part of the planning process for the next period. The high-level deliverables include market assessments, affirmed targets informed by financial year performance and finally, an updated corporate scorecard. The updated scorecard is further cascaded into divisional scorecards, which remain the basis for the business functions and individual performance contracts. Strategy management is critical for guiding the company in the execution of its mandate. BoFiNet and its entire Management Team have adopted a quarterly corporate performance review culture. This process supports the continuous assessment of the business environment and helps to identify emerging opportunities. 27
