Date(s) - 18 February 2008
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EQUATE Signs Comprehensive academic Study Agreement
with Kuwait University
Kuwait – EQUATE Petrochemical Company signed a cooperation agreement with Kuwait University to conduct a comprehensive project to measure the overall company performance as an established major industrial organization in Kuwait.
The project, planned as part of EQUATE’s Corporate Social Responsibility Program (CSR), was signed between Mr. Hamad Al Terkait, president and Chief Executive Officer of EQUATE and Dr. Rashed Al-Ajmi, Dean of Faculty of business studies..
The project aims to study EQUATE Petrochemical Company as a business case and measure its success level and competence components. The study also analyze the general direct and indirect factors affecting the key performance areas of the company affecting overall performance, and potentials through different success indicators that affect the course of business in the company.
Upon signing the cooperation agreement at a ceremonial event held at EQUATE headquarters, Mr. Al-Terkait stated that this project constitutes an integral part to the role played by the company in the field of its social contribution and in the course of the company’s incessant endeavors to confirm its leadership by means of an academic scientific study. The outcome shall serve as a scientific and practical model for both students and investors at the same time.
The study will be conducted by a specialized team of PhD holders from Kuwait University who will specify different factors that contribute to the performance competency as well as determining the basic indicators applicable in the company that aim at upgrading the performance level.
Dr. Al-Ajmi indicated that the existing cooperation between EQUATE and Kuwait University is realizing many objectives from which the community is getting substantial benefits. This particular study, he said, will be a rich field of integrated academic research that is useful for both students and faculty in their relevant scientific research fields. It will also be useful for companies to measure their performance and forecast it through a proven model practice in Kuwait.
The Excellence Center at Kuwait University business school, headed by Dr. Jafar Abbass Hajji, will carryout and manage this project together with a group of faculty members from the same school.. The implementation period of this project will continue for fourteen months with a full financial support from EQUATE Petrochemical Company through their CSR Program.