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MAP Corporate Excellence Awards

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Special Report

There is a greater need to recognize the efforts of listed companies

Oct 04 - 10, 1999

The Management Association of Pakistan (MAP) recently organized the 15th Corporate Excellence Award distribution ceremony. Governor Sindh, Mamnoon Hussain was the Chief Guest. Awards and certificates were distributed on the basis of performance of the listed companies for the year 1997. For the first time, awards and certificates were conferred on companies belonging to financial services sector also.

Awards and prizes indeed provide encouragement to the corporate sector. They work as catalysts for the encouragement of management excellence. "I am glad to know that more and more companies are coming upto the mark of preliminary criteria which definitely shows that Pakistani corporate sector is taking cognizance of the importance of the modern management principles being practiced in the developed world. This is the only way we can compete in the international market and promote our exports to make a strong and prosperous Pakistan," the governor said, adding: "The Corporate Excellence Award of MAP excels itself from others because of its professional approach for assessment of the companies." The Award, introduced in 1982, has expanded to include the financial sector companies for awards for the year, for the first time.

Working within the objective conditions of Pakistan in the late nineties with all the factors of conflict, uncertainty, inadequacies such as those of skilled manpower and materials these institutions and the individuals who lead them have nevertheless recorded significant achievements.

The winners represent the building blocks of our economic infrastructure because they provide employment, training and career growth opportunities to thousands of people and contribute a substantial share to the economic growth and progress of our country.

The pursuit of economic development is the best done through partnership between private sector and government wherein professional management can play a decisive and dominant role. The only fact that makes this cooperation essential is that management expertise which is possessed by the professionals and entrepreneurs is available to government and makes its contribution to overall growth, thus assisting government in making the national goals and objectives as specific as possible. Such a participation will go a long way in developing the motivation and commitment of all in the national economic effort.

Earlier, in his welcome address, Moin M. Fudda, President of MAP said: "The Association is a premier body of professional managers and eminent entrepreneurs in the country. Based on the conviction that effective management is the most important actor in ensuring successful implementation of ambitious plans for economic development of the country, Association stimulates interest in and disseminate knowledge on more sophisticated management techniques practiced the world over. Effort is being made to achieve the objective through organizing training courses, workshops, seminars and convention on almost all facets of management science as well as through Corporate Excellence Awards."

MAP was established in 1964 and the pioneers were Amir S. Chinoy, Jimmy H. Fancy, Khawaja Naseeruddin, Masud Karim, Jamil Nishter, Zaka Rahmatullah, I. A. Mukhtar, Anwar Jamal, Irshad H. Khan, Akbar Fazelbhoy and Akbar Mirza. Recalling their efforts.

Fudda said, "I'll fail in my duty if I do not remind ourselves of those who laid MAP foundation. Some of them are no longer with us. Their contribution and foresight is greatly acknowledged. He also thanked members of executive committee specially Zaffar A Khan, Chairman Corporate Excellence Award sub-committee and other members of his team and staff of the Association.

Zaffar A. Khan presented a historical perspective and changes made in the criteria over the years. The Association developed a separate criteria for the evaluation of financial sector companies. An expert from the British Executive Service Overseas (BESCO) was hired for this purpose. Based on his discussions with the CEOs of various professional, industrial and commercial organizations, he prepared a report to the executive committee and then the final criteria was prepared.