OREANDA-NEWS. On August 28, 2007 the merged IBS/Borlas team of business consultants started a series of training and consulting seminars for top managers of companies and organizations. The first seminar on Company Performance Management by Using Key Performance Indicators was held at the Directors’ School of OAO Magnitogorsk Iron and Steel Works, reported the press-centre of IBS.

Prior to the start of IBS/Borlas merger, both companies had a history of pro-active development of their business consulting practices designed to assist Russian companies in achieving key objectives of management. The most extensive experience was accumulated in business relationships with companies in the chemical, petrochemical, power, transportation, metallurgy and extractive industries. Relationships with customers in those fields unveiled high demand for that experience, prompting a decision for the merged team to hold a series of management training events and seminars for top managers of industrial companies.

The first consulting seminar on Company Performance Management by Using Key Performance Indicators (KPI), drawing upon the two companies’ merged expertise, was held at the Directors’ School of OAO Magnitogorsk Iron and Steel Works (MMK) group. The subject was chosen to enhance the development of tools for management of OAO MMK subsidiary companies to improve efficiency throughout the holding company’s production chain.

The seminar addressed applied aspects of designing and introducing key performance indicators (KPI) for OAO MMK company groups operating in the foreign and domestic markets, focusing on practical methods of designing indicators for company units and alignment between the indicators and manager incentive and motivation arrangements. Trainees addressed practical issues of structural units of their companies, compiled the list of performance indicators for OAO MMK companies, determined calculation formulae and information needs, KPI planning and control periods.

The seminar was greatly appreciated by the Directors’ School trainees. According to Alexey Valuev, Chief Engineer at ZAO Ogneupor, “most notably, the seminar gave a detailed and consistent step-by-step explanation of the performance indicator designing process and had a teamwork format. Excellent case studies based on operations of OAO MMK subsidiary companies provided a vivid example of how KPI use affects company performance”.

Alexey Chernyshev, Business Consulting Projects Director, comments: “Feedback from trainees of the first seminar further highlighted the relevance of the subject and a high level of interest among domestic companies in setting up a dialogue with business consultants. Therefore, a decision has been made to develop that dialogue and hold seminars for top company managers from a variety of industries on an ongoing basis”.

The seminars and training events will focus on subjects based on the range of customer objectives addressed by IBS/Borlas business consultants, primarily the strategic objectives of enhancing the value (investment appeal) and ensuring a strong competitive edge. More generally, IBS/Borlas business consultants focus on the key areas of improving long-term efficiency and strategic management, improving operating efficiency, streamlining the structures and management of groups, financial management and human capital management.