FGV Annual Report 2014

Company Values P.R.I.D.E Policies CompanyValues • Company Values • Business Code of Conduct • Finance policy • HR policy • Investment policy Procedures / Tools CompanyValues • Discretionary Authority limit (DAL) • Budgeting process • Procurement policies & Procedures (PPP) • Transformation Tracker People • Organisation Structures (Group & Clusters) • Decision Rights (RACI) • Enhanced Management Information System • Role Charters • Nomination process Cluster Vision Charters Brand Building • Employee value proposition • Corporate branding Technology • Innovative 'Monitoring & tracking tools' for estate management • New planting materials and actices This was the year we toiled to strengthen our core processes, put into place robust systems and tools and laid the critical foundations to kickstart our transformation journey. The Transformation Management Office (TMO) was set up at the group level to drive executional certainty and to provide strategic thought leadership along the way. The New FGV Way addresses group policies and procedures to guide, manage and support our people, the work they do and the decisions they make, to drive towards an enabled, empowered and high performing organisation. There are five key policies that we introduced: 1. Our company values, P.R.I.D.E, which serve as the behavioural compass for the Group 2. Our Business Code of Conduct has been put to action to act as a central guide and reference to support day-to-day decision making, and to provide more transparency across the organisation. 3. Our enhanced finance policies to allow effective, consistent financial management across the group 4. Our revised Investment Policies ensure rational value-adding investments are made, while correctly managing speed and risk 5. To foster a high performance culture we have developed HR policies to recruit, retain, perform, develop and reward our people as best we can. The New FGV Way 2014 marked the dawn of the New FGV Way. In terms, of new processes and procedures, we have rolled out Discretionary Authority Limits (DAL) to create a more empowered, responsible organisation and to provide clear and consistent authorities. Supporting Procurement Policies and Procedures (PPP) lay down clear guidelines and facilitate a more disciplined and controlled tendering processes. Our improved budgeting process addresses greater transparency and consistency in budgeting across the group. For our people, we have refined our role charters to enable faster decisions, stronger accountability and the instilling of our corporate strategy and vision into our daily work. Clear organisation structures now define reporting lines within the group – these ensure the right balance between empowerment and control at the business unit level. The improved nomination process promotes transparency and objectivity and underpins the high performance culture that we strive towards. We have introduced line of sight KPIs, aligned with the business' overall strategy, which are measurable and trackable through an enhanced management information system. Now that we have laid the critical foundations, our focus in 2015 is shifting towards delivering our strategic priorities, driving towards capital, operational and cost excellence and a more diversified business that will enable us to withstand challenging market forces. Felda Global Ventures Holdings Berhad pg 60 GLOBAL STRATEGIC BLUEPRINT (GSB)