Z-Corp inks pact with BSI

MUSCAT: The Zubair Corporation (Z-Corp) has become the first private sector company to sign an agreement with the Balanced Scorecard Institute (BSI) to supervise the implementation the Balanced Scorecard method in Z-Corp.

BSC is a strategic planning and management system that is used extensively by companies globally to align business activities to the vision and strategy of their respective organisation. The method also helps advance internal and external communications and monitors organisation performance against strategic goals, says a press release.

Z-Corp entrusted the responsibility of supervising the implementation of this initiative across the group to the eminent US-based company Balanced Scorecard Institute. BSI has trained over 6,000 practitioners from 80 countries and provided strategic performance management consultation to over 200 organisations in 40 different countries over the last 17 years.

A senior official at Z-Corp’s Corporate HR said: “In line with our vision to design strategic organisational objectives and effectively channelise employees’ performance, The Zubair Corporation envisaged the introduction of the Balanced Scorecard method. The method assists the board in viewing the performance as more than financially related, helps execu- tive teams to promote team work across the group, aids head of departments in development of internal communication, and also makes employees understand how their daily responsibilities connect to the ‘big picture’.”

Initiated at the Z-Corp in 2014 with clearly defined policies and procedure guidelines, a training programme instilled staff with the knowledge to implement the method. Comprehensive knowledge training programmes were organised for different levels of management. Members were selected to “champion” this process to its ultimate success. In 2015, the method was tested by the top management and later head of departments. The challenges that blocked the objective implementation of the method were identified and submitted to an expert who has successfully assisted in implementation of this best practice across the globe.

The BSI team led by Joe DesCarlo, vice president - International Operations and senior consultant at the company, who has 40 years of extensive experience on business structuring, strategy implementation, and execution of innovative operational business models, helped Z-Corp implement this method.

The senior HR official said, “Being among the leading corporates in Oman bringing and adopting best practices, Z-Corp is proud to be the first private sector firm to utilise the expertise of BSI to supervise the implementation of the balanced scorecard system in its group companies.”

Thanking Joe DesCarlo, the official said: “His rich experience is sure to yield expected results in this phase of implementation and drive this corporate HR initiative to its desired goal. His technical expertise would help in the formulation of the corporate and sectoral strategy maps and high-level KPIs development, and finalise its deliverables.”

Z-Corp entrusted the responsibility of supervising the implementation of Balanced Scorecard method across the group to the US-based company BSI