The Supervisory Board of the State Oil Company (SOCAR) has approved a new operating model in order to improve the company’s management structure and further increase its efficiency, SOCAR reported.
At the meeting chaired by the Chairman of the Supervisory Board of the company, Minister of Economy Mikail Jabbarov, the implementation of SOCAR’s budget for 2022 and financial and economic activities were discussed, it was emphasized that last year the company’s financial indicators increased significantly.
* The operating model is a visual representation of how a company provides value to its internal and external customers. Operational models, which can also be called value chain maps, are created to help employees visualize and understand the role that each part of the company plays in meeting the needs of other departments and structures.Interest and attention to operational models is also associated with the desire to understand the daily functioning of the company and offer options for its improvement.
Caspian Barrel
