Annual Review 2007

Read our objectives of identifying a new vision and key themes, implementing a regional business plan, attracting engineering technicians and developing new income streams.

2007 began with the arrival of a new Chief Executive. It was also the year in which the Trustees and Boards agreed on a new Vision and identified four key themes to carry us forward for at least the next five years.

We consulted universities, companies, our employees and more than 40,000 members on a range of statements, values and purposes. From this consultation, the Trustees approved the new Vision.

Identifying a new vision and key themes

At the end of 2006, Trustee Board, under President Alec Osborn, agreed that we needed to update our Vision, which had become out of date and unrepresentative. The project leaders (TSB Chairman Keith Millard and Chief Executive Ruth Spellman) recognised that the Vision required agreement and acceptability from the Institution’s key stakeholders. After the resulting consultation, the board then revealed the new Vision:

Improving the world through engineering
• Setting the agenda
• Developing professional engineers
• Inspiring the next generation

Implementing a regional business plan

Our Regions undertook a full review of their activities and implemented a regional business plan, which reflected not only the Vision and key themes, but two additional national priorities of engaging society and strengthening links with membership. At the same time, our Branches developed a strategy to strengthen our position overseas. We identified key nations for potential membership expansion, and developing strategic partnerships with organisations which will help raise our international presence.

Attracting engineering technicians

Motivated by the results of the 2006 Corporate Survey when over 66% of members expressed a desire for us to be more inclusive, the Trustees and the QMB Innovation Centre undertook the necessary work to apply for the EngTech licence. We also took the decision to allow EngTech members the full rights and privileges of corporate membership. Although it was a controversial move, this decision demonstrates to the engineering community that we value all individuals involved in engineering, regardless of their professional registration.

Developing new income streams

With the increase in planned activities for 2008 and beyond, the Trustees agreed to a further increase in subscription fees. However, this is allied to one of our objectives – that we aim to spend all member fee income on member activities by developing new income streams to cover non-member costs. Currently this stands at 53%.