The Managing Director agreed that i

The Managing Director agreed that in a sense their business strategy evolved in a semi-formal way, but this evolution took place:

by the key people understanding what the total business was trying to do, and their part in it; then they went away and put their bits together; then we pulled all of it together.

He commented that:

Our strategy is very simple and very broad… it can be put down in a few sentences. It's what lies around it that has to be developed.

He emphasized that:

We sought to demonstrate to the rest of the business that we (the board) were a team. Where a team hadn't existed before, a team was now running the company.

The Deputy Managing Director explained how he saw the formulation of the business strategy taking place: