· Business model
- Connectivity of information
- Stakeholder relationships
Tullow Oil uses the business model and strategy – which are integral to one another – as the lynchpin of the Report.
Clearly describing 'how we create value' and the elements of the business which effectively underpin this process – defined as 'how we run our business' – provides the reader with an overview into how the business creates sustainable long-term value. The icon which is introduced on page 15, is featured throughout the Report, and the seven areas identified in this icon form the basis of the structure of the Strategic Report. This approach not only provides a methodical approach but it also provides the reader with a clear understanding of how all the information included in the Strategic Report is related.
The ensuing spread, takes each of these seven areas in turn to identify the performance indicators used to measure the success, along with the associated principal risks. Tullow Oil provides a brief overview of who is responsible for each of these risks before providing clear signposting to other areas of the Report for further information.