Developing a Purpose-Built Strategic Plan
A large independent power producer, with power plants located throughout the United States, had emerged from a difficult financial situation with significant litigation and changes to its business model. The law department needed to adapt to a new management team, a more focused business model and a refined risk profile.
- Developed a purpose-built strategic plan in conjunction with the general counsel’s office, which reflected input from key stakeholders across the company, including executive management and business unit leadership.
- Assembled a 3-year roadmap to better align the law department’s people, process and technology with the new business strategy.
- Developed new metrics to drive financial stewardship and enable robust reporting of results and value added.
Under the new plan, customer satisfaction scores increased materially, reflecting the new business-oriented approach and organizational structure. Managing to the new financial profile resulted in more than a 40 percent reduction in outside legal spend.