Annual Report 2011 Australian Grand Prix Corporation

Strategic PrioritiesThe strategic priorities and associated supporting strategic objectives of the Australian Grand PrixCorporation are as follows:• To promote Melbourne and Victoria through the events○○Provide all interstate and international visitors with a first class event and broaderexperience where possible○○○○○○○○○○○○Improve the branding and visibility of Melbourne as a destinationStimulate national and international awareness of the events through partnerships withthird party agenciesShowcase opportunities for Victorian businessPartner with relevant government agenciesMaximise business and employment opportunities for Victorian businessIncrease the number of visitors to Melbourne and Victoria as a result of staging the events• To maximise attendances at the events○○Ensure marketing and communication strategies are clearly defined○○○○○○Provide clearly defined selling strategiesUnderstand our customers and provide them with products that satisfy their needsContinually challenge, refresh and improve the existing product mix and continue toexplore new product opportunities• To maximise revenues and minimise costs○○Understand our customers and provide them with products that satisfy their needs○○○○○○Continually challenge, refresh and improve existing product and event content andexplore new product opportunitiesEnsure appropriate understanding of our competition and market placeProvide robust financial review, control and processes including purchasing processes• To provide an exceptional event experience○○Align event to customers’ needs through research findings○○○○○○Refresh existing product mix and continually review, challenge and improveTrial, incubate and test new initiatives at each eventProvide our customers with exceptional basic needs, safety, social engagement andentertainment activities• To deliver events safely and to the highest standards○○Ensure clearly defined output that meets the Corporation’s expectations for ‘higheststandards’○○○○○○○○○○Empower all the corporation’s staff to be responsible for safety and quality at our eventsApply clearly stated safety management systems and event safety management plansAlign suppliers and contractors to the corporation’s safety requirements and standardsMaintan timely and effective communication between all partiesContinually update and review risk register and associated processesAustralian Grand Prix Corporation Annual Report 2011 7