National Grid 2014 Annual Report Download - page 16

Our vision
and strategy
Our vision describes our intentions and
aspirations at the highest level. Our strategic
objectives set outwhat we believe we need to
achieve to deliver our vision andbe recognised
asa leader in the development and operation of
safe, reliableand resilient energy infrastructure.
Deliver operational
excellence
Achieve world-class
levels of safety,
reliability, security and
customer service.
Our customers, communities
and other stakeholders
demand safe, reliable and
secure supply of their energy.
This is reflected in our
regulatory contracts where
we are measured and
rewarded on the basis of
meeting our commitments
tocustomers and other
stakeholders.
Excellence in our operational
processes will allow us to
manage our assets
efficiently,deliver network
improvements quickly and
provide services that meet
the changing demands of
ourcustomers.
Engagement with our
customers and communities
will make sure what we do
reflects their needs and
priorities, and that they get
the maximum possible value
from what we deliver.
Engage our
people
Create an inclusive,
high-performance
culture by developing
allour employees.
It is through the hard work of
our employees that we will
achieve our vision, respond to
the needs of our stakeholders
and create a competitive
advantage. Encouraging
engaged and talented teams
that are in step with our
strategic objectives is vital
toour success.
Our presence within the
communities we serve, the
people we work with and our
opportunities to grow both
individually and as a business
are all important to making
National Grid a great place
towork.
Our vision
Connecting you to your energy today,
trusted to help you meet your energy
needs tomorrow.
Our strategy
To be a recognised leader in the
development and operation of safe,
reliable and sustainable energy
infrastructure, to meet theneeds of
ourcustomers and communities and
togenerate valuefor our investors.
Our business model
We are an international electricity and
gas company based in the UK and
northeastern US.We play a vital role
in connecting millions ofpeople safely,
reliably and efficiently to theenergy
theyuse.
You can read more about elements
of our business model on the
following pages:
Operating environment:
pages 12 – 13
What we do: pages 16 – 19
How we make money from our
regulated assets: page 20
How our strategy creates value:
page 21
How executive remuneration aligns
to Company strategy: pages 26 – 27
Principal operations:
pages 29 – 38
Our Board: page 43
Governance framework:
pages 44 – 48
Where we operate: page 166
We have also included a diagram of
our business model on page 21.
14 National Grid Annual Report and Accounts 2013/14