Business Reports & Operational Update
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Our strategic plan for EFB Industries Limited comprises of determining a mission and vision statement which will guide the affairs of the business in a direction that will monitor the growth and management of the business going forward.
Mission Statement: To optimize the value and interests of the various stakeholders of the company while being committed to manufacturing and supplying high quality agricultural produce and oils for the domestic, West African and International Market.
Vision Statement: To be the most sought after agricultural produce company internationally.
Strategic Intent: To be a structured and internationally recognized organization, manufacturing and supplying high quality agricultural produce and oils for the domestic, West African and International Market by 2020.
In order to achieve the Strategic Intent, we identified 10 strategic imperatives:-
- Management and Organization Structure
- Creating a customer’s base.
- Backward Integration.
- Adequate Funding.
- Equipment Procurement
- Increase in sales volume locally and regionally.
- Creating and maintaining a Corporate Culture and Value System
- Development of in-house competencies and continuous innovation.
- Achieving process efficiency and best in class cost profile.
- Product Innovation or/and Diversification
The strategic plan was code named POPKO and will be implemented in 3 stages over the next 7 years i.e. 2018 to 2025. The company would focus on the first stage i.e. the processing of palm oil and palm kernel oil.
Overall Strategy: To position EFB Industries as the foremost manufacturer and supplier of high quality agricultural produce and oils in the domestic, West African and International Market.
The POPKO plan will be built on the pillars listed below:-
- Customer’s Satisfaction
- Market Leadership
- Cost Leadership
- Diversified Product offering
- World Class Corporate Culture and Value System
- Research and Development.