News & events
Attended by the Esteemed Deputy of the Social Security Investment Co. (SSIC)
Strategic Planning and Studies: the 4th Evaluation and Ranking Ceremony of SSIC Subsidiaries
The in-person evaluation of all TPICO’s companies, as the selected companies in the first phase of the 4th SSIC subsidiary ranking ceremony lasted from January 13- 20, 2018. The project’s mission is to assess the realization of the Social Security Organization’s macro strategies for improving investment returns, explaining and translating the Social Security Investment Company’s policies for its subsidiaries, and their continuous monitoring. Identification and overcoming the companies’ deficiencies and weaknesses based on the performance evaluation results, sharing companies’ top experiences and managerial achievements, preparing the ground for companies to pursue the path of excellence, sustainable development, and presence in the international arenas, and encouraging companies to improve performance and engage in self-evaluation are among other objectives of this project.
It should be noted that, the SSIC subsidiary ranking project has been designed and implemented since 2014 with the proposal of SSIC’s strategic planning and studies department as a domestic model based on the Balanced Scorecard (BSC) and European Foundation for Quality management (EFQM) models, focusing on the realization of the resistive economy policies. This model is based on 56 indices in four “financial”, “customer and the market”, “internal processes”, and “growth and learning” perspectives with different weights and coefficients. Each index is evaluated based on 4 components:
1- Index growth compared with the previous year
2- Index comparison with the average industry (value) in each subsection (raw material, production, distribution, trade)
3- The extent to which the assigned objectives have been achieved
4- Explaining the reason behind the significant increase/decrease of indices.
In evaluation models and various prizes for excellence, two issues are always of particular significance: 1- coherent and organized performance, improvement project establishment, and functional outcome achievement, and 2- the substantiated and documented presentation of these achievements and measures to evaluators. Over the past two years, the SSIC pharmaceutical subsidiaries have, fortunately, been well-positioned in both areas, leading to the attainment of satisfactory ranks (compared with other SSIC subsidiaries). This, accompanied by the significance of the pharmaceutical business for SSIC, resulted in the in-person evaluation of all pharmaceutical holding companies to be put on the SSIC strategic planning and study department’s agenda. To this end, a group consisting of SSIC representatives from various units was introduced which attended the meetings correspondingly. In addition, several colleagues of the Holding attended these meetings to achieve a better understanding of the evaluation method, explain a number of distinctions arising from the nature of the pharmaceutical industry, and clarify a number of ambiguities for SSIC evaluators.