During April 16-18, the Strategic Seminar 2019 was held in Beijing Jinmao Eastern Garden Hotel. Under the theme of “Benchmark to Learn”, the Seminar aims to clarify the path to the core value of “In Science We Trust” via comprehensively benchmarking. Benchmarking to refine projects were put forward to accelerate innovation and build Sinochem into a world-class enterprise. Over 70 people attended, including Sinochem leaders such as Chairman Frank Ning, members from five strategic business units, heads of the functional departments, and other representatives from ChemChina. Outside directors of Sinochem Group, Mr. Ma Chuanjing, Ms. Li Jinfeng and Mr. Wei Weifeng, were also invited to attend.
Mr. Frank Ning gave a lecture from four aspects: why holding this Seminar, how to develop this Seminar, what problems we are facing and how to do next. He answered the questions on the spot.
Mr. Frank Ning pointed out that Sinochem holds the Executive Strategy Seminar every year, but this Seminar is quite special for many reasons. In the future, the tasks we face represent the trend of this industry. In the face of great changes in chemical industry, we expect to find a path that will turn Sinochem into a technologically advanced world-class conglomerate
He said that there are mainly two forms of holding seminar. The first one is action learning, which enables the team to pool wisdom and efforts so that each member could have a clear understanding of what to do and the role to play; the second one is benchmarking to learn: we should view ourselves in a large coordinate system and understand our position, the trend and the core index in it.
In response to the problems we face, Mr. Frank Ning called for escalating innovation on top of our scale and market advantages. He also recommended comparing and envisaging Sinochem in the coordinate of world-class enterprises and perceiving our development in line with the standards, requirements, and realms of world-class enterprises.
He stressed that three works should be well-arranged for the next step. First, we should ensure the primary operation of all current assets in avoidance of operational instability; second, we should make good use of the current relatively loose macroeconomic environment which probably grant large rate cuts this year; third, we should spare no efforts to build Sinochem into a professionally and internationally technology-driven chemical enterprise.
During this three-day Seminar, the participants were divided into eight groups to discuss action learning. Mr. Zhang Fang, Sinochem CTO and Director of the Innovation and Strategy Department, introduced the definition of a benchmark enterprise and the head of Deloitte shared the experience of building benchmark system. By exchanging what is a benchmark system, why should Sinochem develop a benchmark system, what can we do and how to do, the eight groups formed their respective action plans.
As Mr. Frank Ning summarized in his closing remarks, the three-day discussions, learning and benchmarking were beyond his initial expectations for this Seminar. Based on the group discussions, we can sum up a benchmark model to condense all the elements and reveal the logical relations. The core of this model is where our core team starts from, including values, missions, and the Party leadership. The periphery of the model is divided into four parts: society, clients, shareholders, and employees. We must benchmark at each level and implement it.
Mr. Frank Ning emphasized that the outcome of the Seminar is to form a resolution for everyone to implement, in which we can have a great goal to pursue, to implement, and to learn. A promoting mechanism is also required. Both professional branches and business divisions should have a comprehensive benchmarking system for implementation. Taking benchmarking management as an instrument, Sinochem will ultimately be up to the management philosophy, level and system of world-class enterprises. The Chinese market renders a large space and development prospect, so Sinochem must give full play to its strengths and potentials for breakthroughs.