NAC v3 The headline may sound a bit like the name of a computer game – but it’s not! NAC v3 stands for The North Atlantic Champion version 3, and is the new and improved version of Royal Greenland’s strategy. As implied by the name, NAC v3 is the natural successor to NAC v2, and before that to the original North Atlantic Champion strategy that we drew up in 2013. The main aim of the original NAC strategy was for Royal Greenland to focus its human and financial resources on developing the North Atlantic products which are the very foundation of our existence, and on developing the markets in which they are sold. This aim has been realised in full through a combination of divestments, acquisitions and – not least – the organic growth of our original North Atlantic business. In the period since 2013, we have doubled our volume of North Atlantic products. In 2013, North Atlantic products accounted for less than a third of Royal Greenland’s total volume. Today, they account for more than two thirds. The modified product mix has also resulted in a changed market mix: Where five years ago we sold just over 10 per cent of our products in Asia, today we sell more than 25 per cent, particularly in China and Japan. In this way, the original NAC strategy has resulted in a transformation of our company which is more radical than one might realise. A couple of years later, we upgraded the original NAC strategy to NAC v2. The main change compared to the original strategy was that products other than prawns and Greenland halibut were given a more prominent position. Especially snow crabs and cod. NAC and NAC v2 have served us extremely well, which is evident not just from the hard financial figures, but also, for example, from the number of people now employed in Royal Greenland. Therefore, Royal Greenland does not need a completely new strategy. There is no need for a revolution – but rather for continued evolution in roughly the same direction that we have been taking for the past five or six years. This might sound dull – but it is by far the best thing for the company, for our employees, for our owners and for all the local communities where we are working. Both because The North Atlantic Champion is an excellent strategy, and also because continuity creates a sound framework for everyone – customers, fishermen and employees. The main evolution of the strategy relates to value maximisation. This won’t come as a surprise to regular readers of this leader in Navigatio, where value maximisation has been a central theme in 2017 and 2018. 2 NAVIGATIO NO. 2 • 2018
Download PDF file
Build your own flipbook