Best managed companies in the Middle East 2011: Transparency key to success
In a region traditionally renowned for its political and economic opacity, companies with a deep understanding of their customers and good corporate governance top Euromoney’s survey of the best-managed companies in the Middle East this year. Kanika Saigal reports.
UNDERSTANDING CUSTOMERS AND transparency is fundamental to successful management in the Middle East. Companies that scored the highest in Euromoney’s recent survey of the best-managed firms in the Middle East were not just the traditionally successful oil companies. Indeed, understanding the regional market during a period of great political change has been essential to success in the Middle East within all sectors.
Sabic, the most profitable industrial conglomerate and winner in the oil and natural gas section of the survey, is one such example here.
"From its inception, the company was always driven by a huge commitment to its customers and to serving their needs," says Mutlaq Al-Morished, CFO of Sabic. "Through a deep understanding of our customers’ commercial ambitions, we apply our technical expertise to tailor material solutions that power their competitive advantage for the long run."
Almarai, the region’s premier supplier of dairy and juice products, is another example, having come out on top as one of the Middle East’s best-managed companies in the survey.