GCC Secretariat General chooses Ms. Safa Al Hashem as Key Speaker in "GCC Days" in Rome, Italy

Secretariat General of The Gulf Cooperation Council (GCC) announced holding "GCC Days Conference" scheduled to be held in Rome, Italy during the period from 19th – 22nd October 2009. GCC Secretariat General also announced choosing Ms. Safa Abdul Rahman Al Hashem, Chairperson & Managing Director of Advantage Consulting Co. as a keynote speaker in the conference about "Role and Impact of Woman in GCC States".

In this connection, Ms. Safa Abdul Rahman Al Hashem, Chairperson & Managing Director said: "It gives me a great honor to be nominated by Kuwaiti Ministry of Information with support of GCC Secretariat General to participate as a key speaker during GCC Days in Italy where I will present comprehensive work paper on the Woman's Role in GCC States.

Women certainly have a critically important role to play in many economic and social aspects, development of social responsibility and human development, in addition to woman's untapped wealth, or inert wealth as I call it, that can be well utilized in direct investment to develop economy with profitable returns. I observed during occupancy of my office and by virtue of my business relationships with GCC women that Gulf women managed to broaden  their horizons and to take up roles that involve many challenges in both private and governmental sectors which were limited to men only such as supreme political or academic  positions. With improvement of education opportunities, women with mature mentalities still have promising chances to effectively contribute to rising and continuity of prosperity of GCC states.

ADVANTAGE Releases Quarterly Updated Report on GCC Salary Trends – Another Glance
01 October, 2009, KUWAIT

Advantage Consulting Company released its quarterly Report entitled "GCC Salary Trends". The report is an update of the previously released report, GCC Salary Trends Revisited. This report provides a new perspective on the salary trends and employment opportunities in the GCC region after having undergone changes with many precautionary measures that were introduced during second and third quarters of 2009 by the governments and central banks.

 “Confirming the concerns raised by experts and consultants regarding the financial crisis and the virtually complete cessation of financing opportunities by GCC banks following financial scandals and the severe adverse effect on performance, salary increases trends remained at their bare minimum with the exception of negligible changes in certain vital sectors.” said Ms. Safa Al Hashem, Chairman & Managing Director while releasing the report.

Ms Hashem said, “We have consistently maintained that it is imperative for governments, like Kuwait for example, to approve and implement its direct investment plan in collaboration with private sector in order to inject more liquidity in developmental and infrastructure projects, alternative investments and service sectors covering health, education, transport and creation of economical cities with view to attracting various investments from GCC states or the international community."

"Talking about relief and improvement in GCC markets”, said Ms Al Hashem, “remains dependent on restoring confidence in order to create a dynamic and creative market that substantially relies on the private sector supported by the public sector. Similar to the precautions taken by certain governments such as KSA, Qatar, Oman and Abu Dhabi, confidence restoration can be achieved through the following steps:
First: Create an effective, accurate and thorough corporate governance system to ensure proper control over banking sector and protection of shareholders and depositors' rights.

Second: Announce a ten year plan expressing the government readiness to inject liquidity through major economical projects on an urgent basis.

Third: Maintain a moderate level of inflation rates through direct monitoring of economy and benefit from improvement in oil prices and financial savings available with the government.

Fourth: Of course, this is based on decisions by governors of GCC central banks to exempt the banks from the mandatory reserve for any of economical projects or service projects (education, health, transport)."

Al-Hashem continued, "Implementation of such precautionary measures and taking effective necessary steps are the cornerstone for economic revival. The current situation is similar to the domino effect; when the first domino piece falls, the entire row will subsequently fall. Through well informed investment by the governments, private sector can contribute significantly toward improving the oil service companies and construction, real estate, health, education sectors as well as development of manpower. Consequently, economic situation should gradually improve until we pass the bottleneck."

In conclusion, Ms. Al-Hashem said, "The time has not come yet to consider cessation of economic support by the governments as forecasts are still suspicious. However, we hope that conclusive and in-depth decisions are taken to rectify the situation along with strictness in implementation".

Examining the Immunity of Lebanese Banks to The Global Financial Crisis
12 July, 2009, KUWAIT

The Global Financial Crisis has inflicted considerable damage to many of the major economies in the world. We have seen several economies brought to the brink of economic collapse and various business leaders file for bankruptcy. However the story is not all dark and gloomy. There have been a few who have maintained immunity to the effects of the financial plague and Lebanon is a prime example of such an economy.

“While the majority of the world is nursing their fingers burnt in the financial crisis, it is extraordinary to find a country that has actually reaped profits in its banking sector.” said Ms. Safa Al Hashem, Chairman & Managing Director while releasing the latest mini-report titled, “Nothing, But Common Sense” published by the Markets Insights Division (MID), of ADVANTAGE.

The report focuses on the economy of Lebanon and its components that allowed it to safeguard itself from the financial crisis. The report looks at various aspects of the Lebanese economy such as its Economic Indicators, Tourism and Banking Sectors. The report reveals that with an economic freedom score of 58.1, Lebanon is now ranked at 9th out of 17 countries in the MENA region.

Being a service oriented economy; the main growth sectors include banking and tourism. The banking sector in Lebanon is equivalent to over 2.5 times its economic sector. There are no restrictions on foreign exchange or capital movement or on foreign investment, and bank secrecy is strictly enforced. Services and banking sectors represent 70% of the country's gross national product while agriculture and industrial sectors account for 10% and 20% respectively.

The report reveals that the most important factor that helped Lebanon in gaining immunity to the Financial Crisis was its strong regulatory policies. Lebanon has had a tradition of conservative regulation in its financial sector. The Central Bank avoided raising the leverage of the banks. The regulations in Lebanon require that the banks can provide credit of up to 70% of their deposits, whereas some international banks were exceeding 100% of their deposits.

Ms Al Hashem said, “It is admirable that the Lebanese banks were able to see the crisis coming and take measures to barricade themselves from any adverse impact. Through its effective supervision, the Central Bank of Lebanon has protected the Lebanese economy from any direct impact of the global financial crisis.”

Lebanese banks have a relatively low loan to deposit ratio (33% – 34%) which is evidence for more liquid balance sheets as compared to other banks in the region. Considering the strong liquidity of the banks even through the crisis Lebanese banks are expected to continue to perform well with adequate immunity to any immediate risks from the global financial crisis.

“Banks in Lebanon have shown us” concluded Ms Al Hashem, “the importance of regulation and the role effective governance can play to implement it effectively. The need for effective corporate governance in our system cannot be ignored if we are going to survive this crisis and protect ourselves from a crisis in the future. This crisis has brought with it a lot of learning, and we should not let it go to waste.”

Entrepreneurship under the ADVANTAGE microscope
2 June, 2009, KUWAIT

Entrepreneurs have the potential to take the GCC business world by storm and in the wake of the Global Financial Crisis the possibilities are immense. However, entrepreneurs need to be encouraged to venture out of their comfort zones and explore the opportunities the market presents to them.

“Entrepreneurs have the capability to withstand economic storms because where normal people see an uncertainty an entrepreneur sees opportunity. This is why I believe entrepreneurship needs to be promoted in the GCC” said Ms. Safa Al Hashem, Chairman & Managing Director while releasing the latest report titled, “The State of Entrepreneurship in the Midst of Global Financial Crisis” published by the Markets Insights Division (MID), of ADVANTAGE.

The report compares the status of entrepreneurship in the GCC with the rest of the world and provides a glimpse of why it has not so flourished in the GCC. The report reveals that the present educational system is inadequate in equipping the younger generation to face the demands of the corporate world.

Most graduates from government run educational establishments do not have the skills that private companies in the region require. The report said that in addition to the inadequacy of the curriculum in educational institutions, measures need to be taken to motivate a change in the attitude of young nationals. Most young nationals prefer to remain free of risk and prefer the security offered by government jobs that offer convenient timings, attractive pay packages and prestige.

Ms Al Hashem said, “We need to reassure our younger generation and help them overcome the fear of failure and encourage them to take calculated risks. The younger generation needs all the support we can give them to start an entrepreneurial career”

The report recognizes that although entrepreneurship has become acceptable in the GCC in the recent time, becoming an entrepreneur in still a difficult task. A lot of energy needs to be spent on the promotion of entrepreneurship to encourage the youth to come out of their comfort zones. Also, Arab women in particular would need support and encouragement to overcome cultural sensibilities and become business leaders.

“We also need to establish”, said Ms Al Hashem, “a business friendly environment for entrepreneurs in the GCC. This is will encourage would be entrepreneurs to take up new business ventures.”

The report provides various pointers to ‘would be entrepreneurs’ when considering a business venture. ‘Would-be entrepreneurs’ must understand the need to assess their ideas before going into a business venture. A potential business idea has to go through rigorous feasibility studies to ensure viability of the endeavor.

The report emphasizes the need to promote entrepreneurship in the GCC as a solution to the economic crisis that has spread across the globe. With the ongoing economic crisis the prospect of finding jobs looks slim for young Arabs who complete their education. With greater entrepreneurship skills combined with the emergence of Small and Medium Enterprises (SMEs) the problem can be eased to a great extent.

“Arabs by nature are great entrepreneurs. But lack of official support, difficulty in securing capital and cultural reaction to failure has been the discouraging factors towards entrepreneurship. This is why there is need for an incubation process to develop their talents and ideas and commercialise them so as to encourage the new entrepreneurs and support them to start up business with the confidence and help in surviving on long term basis, added Ms. Al Hashem.

Ms Al Hashem concluded, “It is our duty to encourage the younger generation to take up the challenge of entrepreneurship. We, at ADVANTAGE, strive to enable our young blood to venture into new business endeavors and equip them with the best tools to tackle the corporate world.”

Oman Corporate Governance Conference urges more initiatives for boosting investor confidence
3 June, 2009, KUWAIT

The Oman Chamber of Commerce and Industry (OCCI) and the Federation of GCC Chambers (FGCCC) organized a two day (19 – 20 May 2009) conference on “Corporate Governance and its Role in Economic Development and its impact in avoiding the Financial Crisis in GCC Countries” at the Al Bustan Palace Hotel in Muscat. The conference was graced by H E Sayyid Ali Bin Hamoud Al Busaidi, Minister of the Diwan of Royal Court, Sultanate of Oman.

The conference looked at the various aspects of Corporate Governance such as:

1. Its relevance in today’s businesses as well as the status of corporate governance.
2. Implementation of its principles in the GCC states.
3. The role of civil society organizations in supporting and enhancing corporate governance.
4. Its role in supporting and activating modernization and economic development programs and its role in creating investment friendly market for local and foreign investments.

Members attending the conference included officials from Ministries of Commerce, Industry, Finance and Economy in the GCC states, Local, Regional and International Economic and Development Authorities and Councils, HAWKAMAH, The Institute for Corporate Governance as well as various private and public enterprises.

While elaborating on the importance of Corporate Governance in Small and Medium Enterprises (SMEs), Ms. Safa Al Hashem, Chairman and Managing Director, Advantage Consulting Company, Kuwait said, “Corporate Governance is absolutely imperative in the smooth functioning of businesses as it enables businesses to maximize long-term stakeholder value by inculcating transparency, independence, accountability, responsibility and fairness.”

Ms. Al Hashem said, “The importance of the implementation of a good corporate governance system into our businesses becomes evident as we become sensitive to the sheer number of SMEs in our economy. SMEs form the primary drivers for economic growth and innovation and are significant contributors to industrial output. By implementing good Corporate Governance in our SMEs we would improve operational performance, increase access to external finance, improve relationships with stakeholders and reduce the risk of being affected by a financial crisis.”

“Enforcing good Corporate Governance,” added Ms. Al Hashem, “would enable effective management of conflicts of interest, provide a clear roadmap on the role of Board of Directors ensuring transparency, as well as define the role of control functions like internal and external auditors which will ensure that the organization is managed in a professional and accountable manner.”

Also speaking at the conference was, Mr. David Hew, the world renowned subject matter expert on offset programs, the founder of the Asia Pacific Countertrade Association (APCA) as well as the knowledge partner of ADVANTAGE in the area of Offset Advisory. Mr. Hew enlightened the conference with the specifics of a good offset program and why it is necessary in the GCC. Mr Hew elaborated how proper implementation of good corporate governance can benefit all parties in an offset program. He also brought to light various key governance issues that need to be considered and tackled in order to be successful in an Offset program.

Emphasizing the importance of good corporate governance in offset programs, Mr Hew said, “The essence of an offset program is to enable effective knowledge transfer and ensure job creation for nationals. It is imperative that this essence of offset programs be preserved. Some offset models in the GCC are based on venture capital models which strips the basic idea behind an offset program.” Mr Hew added, “By enforcing a good corporate governance model we can ensure that the essence of offset programs can be preserved and enable maximum benefit from them”

While speaking about offset programs, Ms. Safa Al Hashem announced that ADVANTAGE Consulting Company now offers exclusive offset advisory services to governments in the GCC.    

Islamic Finance needs to be revitalized, says Safa Al Hashem
28 May 2009, KUWAIT

“Despite all the skepticism the world had toward the Islamic Banking System in the GCC, particularly in Kuwait, not only does the integrity of the system hold, but Islamic Finance also remains the most optimal solution to avoiding the repercussions of the Financial Crisis”, said Ms. Safa Abdul Rahman Al-Hashem, Chairman & Managing Director, Advantage Consulting Company, while talking about the role of Islamic banks in providing initial solutions in view of the current financial crisis.

“However,” she added, “although Islamic banks do contain an array of real Islamic Banking products like Tawreeq, Sukuk, Murabaha, Islamic real estate mortgages, they in effect provide the same traditional products of commercial and investment banks with only change of trade name.”

Ms Safa said, “We, at Advantage, along with our partners diligently tried to identify the life-span of Islamic banking system, its activities and a number of products. Although the accuracy of the figures announced by these Islamic institutions whether in terms of volume of investment or total investments of Islamic investment institutions have remained unchallenged thus far, we have ascertained that just like the conventional banks the Islamic banks were considerably affected by the crisis.

Al Hashem added, “This is primarily due to the fact that the Islamic banking system is a part of capitalistic system and endeavors to realize profits using Fiqh (Jurisprudence) tricks to reformulate products in an Islamic framework and then sell Islamic products at a higher price as compared to original traditional financial products".

Ms Al Hashem continued, “Our research on Islamic Banking will focus on Islamic financial system, Islamic finance industry and experts who are working in Sharia boards to impart Sharia jurisprudence and unfair bonuses payroll to such committees. With the current financial crisis invading Kuwait and other countries in the world, Islamic banks and its investments instruments will soon be forced to reconsider its financial engineering.

In conclusion Ms Safa said, “Being strategic and administrative consultants who design and implement the concept of corporate governance for our clients, we continue to advocate for the rights of the shareholder during the holding of general assemblies boards of Islamic banks and companies. We are yet to see actual inquiries from shareholders regarding the financial results and losses of companies despite the massive impact of the financial crisis upon such companies. Formal enquiries need to be initiated regarding ambiguous matters like imaginary compensation for lawyers, committees of experts and accountability of the Chairman for false appointments of executives in such companies or banks.

ADVANTAGE releases Financial Glossary to create financial and economic jargon awareness
17 May 2009, KUWAIT

A Comprehensive banking, financial and economic glossary expected to assist common people understand the lingo.

Speaking at the release, Ms. Safa Al Hashem, Chairman & Managing Director, ADVANTAGE Consulting, said: “The area of financial services and money management is becoming a daily routine for common people and most of them find it difficult to understand associated terminology. The changes in the global economic and financial scenario over the recent decade have led to the creation of new terms in banking, financial services and economics. Therefore, we at ADVANTAGE have compiled this comprehensive glossary. Used effectively, it is hoped that this glossary will help build and promote general awareness of financial terms and will empower people to make informed and relevant financial decisions”.

“Decisions regarding financial matters are amongst the most important that people make during their lifetime and it is up to firms like ADVANTAGE to ensure that information regarding those decisions is easily accessible and understood by all, as part of our Corporate Social Responsibility”, said Rajit Nair, Senior Vice President, ADVANTAGE Consulting.

Website hits on ADVANTAGE site continue to soar
04 May 2009, KUWAIT

Visits to ADVANTAGE website www.consulting-advantage.com have hit a record high.

Latest user statistics for the site, of ADVANTAGE, reveal page requests for January to April (2009) reaching the 300,000 figure for the first time.

Developed by ADVANTAGE with a vision to convert into a quality research portal, consulting-advantage.com is becoming an important webspot for both researchers and job seekers.

Ms. Safa Al Hashem, the Chairman & Managing Director of ADVANTAGE said, “Currently, the site offers Free-to-access to many of the research reports published by ADVANTAGE on a regular basis. Also, the site provides exclusive job opportunities for ADVANTAGE’s clients in the GCC”.

“We get hits from different parts of world like Korea, China, and Americas as we provide premium research reports on different topics including investments, job market, salary trends, HR trends and the like”, said Ms. Al Hashem.

“We are overwhelmed by this response and that makes us more confident and committed to provide more in-depth analysis and reports on current topics. As part of our business strategy, we are planning to revamp our current site, by the end of this quarter, to provide more access to data and reports,” continued Ms. Al Hashem.

“The need of the hour for all businesses in the GCC is either to innovate or fall behind as survival in an increasingly competitive, global and knowledge-based economy is becoming more and more stringent. To complement such moves, business owners or their teams should enrich their knowledge through either in-house research or access to trusted knowledge sources. This is where ADVANTAGE is trying to do its best through our in-house Markets Insights Division (MID). MID team spread in all GCC countries constantly updates the databank on all themes that has relevance to the GCC businesses”, explained Ms. Safa Al Hashem.

“Through our new website, we plan to provide a bespoke research module, a forum for the discussion of the research reports we publish or on any upcoming themes and a portfolio of useful web-links”, said Ms. Al Hashem.

We are also negotiating with premium research houses to provide our registered site users, access to premium reports of their interest, either free of charge or with a discount. At this point, we thank all our patrons and researchers for their continued support and we urge you all to keep visiting our website, as knowledge is power”, concluded Ms. Safa Al Hashem.

ADVANTAGE revisits Salary trends in the GCC
21 April, 2009, KUWAIT

“With the economic downturn having affected almost all parts of our economy beyond anyone’s expectation, we realized that the salary trends in the region need to be revisited to observe the effects it has been exposed to.” said Ms. Safa Al Hashem, Chairman & Managing Director while releasing the latest report titled, “GCC Salary Trends Revisited” published by the Markets Insights Division (MID), of ADVANTAGE.

The report is a follow up on a previous report published by the MID of ADVANTAGE titled the “Global Financial Crisis and GCC Salary Trends – Report”. The report looks at the changes that have come about in the Salary trends in the GCC based on trends during the first quarter of 2009.

The report suggests that the economy is on its upward climb, however the process will be gradual. Although market seems to be showing positive signs, it is suspected that these results will be short-lived. However, with the economy slowly recuperating, organizations are now slowly stabilizing themselves and have taken a step back from massive job cuts that were undertaken during the end of 2008.

Ms Al Hashem said, “We see that trends have changed after the first quarter of 2009. It is clear now that salary increases in the region will reduce more than we expected. After looking at the trends over the last quarter we now see that salary increases for 2009 would come down to 6.2% instead of earlier expectations of 9.2%.”

However the good news is that organizations have now stopped the indiscriminate use of job cuts. As opposed to the alarming figures of 2008, where real estate sectors shed 48% of its staff, followed by 24.5% from the banking sector and 13.8% from the oil related operating sector. Trends now show that these figures have come down to 22% in the real estate sector, 13.5% in the banking sector and 9.5% in the Oil and Gas sector.

“Although this does provide a ray of hope to the business community” concluded Ms Al Hashem, “it should be noted that the market is still in a volatile state and requires a considerable amount of time before it can regain momentum. However, I am confident that the hurdle that faces the economy can be overcome by our collective effort and through strong long term investment policies.”

Disclaimer

Al Hashem applauds the Stimulus Plan proposed by CBK & urges the Government to issue decree to implement it.

“The government has to accelerate the rollout of the stimulus plan in order to assist the local financial institutions thereby increasing liquidity in the market and enhancing investor confidence.”, said Safa Al-Hashem, Chairman & Managing Director of Advantage Consulting Co., while issuing a statement regarding the Stimulus Plan to support the economy proposed by the Central Bank. The Investment Companies in Kuwait control an estimated 25 % of the financial assets in Kuwait which is currently in crisis. The stimulus package that is formulated will enhance the corporate accountability of the financial institutions and will insist on transparency in the company’s investment strategies.

Although the  5.5 Billion Kuwaiti Dinar stimulus package, to prop up Kuwaiti Banks, is in no way going to address all the issues the financial crisis has brought, it still is a commendable step in the right direction. The stimulus plan is a positive step for banks as it provides them with protection against erosion and aims at  investing in the battered stock market and shore up investor confidence. The Kuwait government had approached its government investment fund - the Kuwait Investment Authority - to set up a multibillion-dollar fund in November. This second infusion came after KIA increased its investments in eight domestic stock funds to support the market. According to sources, the government's planned 5.5 Billion Kuwaiti Dinar package is targeted at boosting and strengthening banks' balance sheets. In order to help spur lending, the Kuwait government should plan on guaranteeing 50% of new loans made by banks in 2009.

Al Hashem added, "While this is a step that deserves applause, there needs to be certain criterion put in place by the Central Bank, and certain conditions should be accepted by Banks and Financial Companies who are under the stimulus plan umbrella, and above all an unbiased body put in place to oversee the implementation of the stimulus plan. Assigning CBK the responsibility of the implementation of the stimulus plan has attracted wide spread criticism from every quarter of the business fraternity in Kuwait. This is a valid concern as this will give complete freedom to banks to execute the plan and this will prove to be detrimental to the local economy.”

Al Hashem added, “In order to ensure maximum effectiveness of the Stimulus Plan and unbiased review of companies  that will benefit from the stimulus plan, the following measures can be taken in consideration :

Moreover Al Hashem, commenting on the set of criteria that companies should necessarily satisfy in order to avail the stimulus money said, "The primary concern being addressed by the Stimulus Plan should necessarily be the well being of the economy of Kuwait ''

This will provide considerable relief to more than 750,000 shareholders. Unlisted companies can be considered at the discretion of the panel provided the companies provide full disclosure of their records. 
''There is no place for secrecy and immunity from accountability considering the extraordinary legislation given by the government to bail out the distressed companies. These companies should adhere to all rules & regulations set by CBK regarding these distressed assets. The government shall also be given an ownership stake in these companies in addition to imposing extensive reporting for these entities.” , said Al Hashem.
A stimulus package that includes these criteria will help revive the local economy by providing more financial guarantees to many companies, thus delaying chaotic cost cutting initiatives taken by affected companies like engaging layoffs and re-structuring which can have adverse effects on the economy.
Al Hashem concluded, “The need of the hour is to place our trust in our economy. Although this is a small step, with the implementation of this plan we will definitely be on the right track to attaining economic stability. As the adage goes - A journey of a thousand miles begins with a single step.” 

ADVANTAGE advocates professional help for Small & Medium Size Enterprise (SMEs) and Family Owned Firms
02 March 2009, KUWAIT

With the onslaught of the financial crisis in the GCC region, we have now witnessed companies go through immense pressure just to survive. Organizations are now looking to cut their costs to survive the bad financial weather. Keeping in mind the responsibility to keep the economy healthy, professionals are now realigning their strategies for the greater good of the economy.

Ms. Safa Al Hashem, Chairman & Managing Director of ADVANTAGE Consulting Company, said, “We are in the midst of a crisis and the economy that we built is ailing. As a private sector entity, it is our duty to revive the economy and we all have to play our part in this endeavor.”

Family Owned Firms (FOF) and Small and Medium Enterprises (SME) form the backbone of the GCC economy with almost every sector being dominated by these businesses. This is what makes it necessary for us to focus on this segment of our economy. Helping these organizations to survive the economic storm will enable them to preserve the economy and bring it back on the right track after the crisis has passed.
“The very proportion that FOFs and SMEs form in the market makes it obvious as to why we must concentrate our time energy and resources toward helping these organizations survive the effect the economic crisis has had on our economy.” Said Ms Al Hashem

With organizations panicking and taking measures to cut expenses to survive the financial storm, most fail to employ objective methods to meet their requirements. This could result in more harm than good to most organizations in the long run. Without an objective method employed to analyze the situation, organizations are vulnerable to taking the wrong decisions.

Ms Al Hashem said, “In the midst of uncertainty everyone panics and when companies panic they make bad decisions. The right decision is crucial during this time and for that companies need to be able to analyze the situation objectively with no bias.”

Most organizations neither have the time nor the resources to conduct such detailed objective analysis. However this does not undermine the need for such detailed analysis.

“Organizations need to understand the importance of careful objective analysis when taking decisions as every decision has its impact on the economy. As part of our Corporate Social Responsibility efforts, we are happy to say that in light of the developments through these trying times we have now realigned our strategy to focus on the SMEs and the FOFs that operate in the GCC region. Our extensive experience and expertise will enable organizations to gain access to resources that dedicate their time and energy in conducting objective analysis and studying the issues they face”, concluded Ms. Safa Al Hashem.

ADVANTAGE takes a closer look at the impact of Mass Layoffs
15 February 2009, KUWAIT

As businesses try to weather the ongoing economic crisis, we are now witnessing a growing trend with the increased usage of job cuts. With the unemployment rates reaching unprecedented levels, taking to job cuts as a first priority needs to be revisited by corporates in the GCC. If this trend is left unchecked, it could bring the economy to the brink of collapse.

Ms. Safa Al Hashem, Chairman & Managing Director of ADVANTAGE Consulting Company, while releasing the latest report titled, “Can You Afford to Lose Your Talent When In Crisis?” published by the Markets Insights Division (MID), of ADVANTAGE, said, “It is truly alarming to see so many organizations engage in layoffs at the same time. Most, hardly consider any kind of alternatives to prevent the loss of the very asset that built their business. It is also very disheartening to see that most of these organizations do not even realize the harm they do to themselves as well as the economy due to their focus on their short term interests.”

The report gives a glimpse of the job cuts that have taken place in the GCC and gives an overview of the how these job cuts are distributed across different sectors. With layoffs being used as an easy tool to reduce expenses, over 1 million people have been affected by it. The report elaborates on the side effects uncontrolled mass layoffs can have on the business as well as the economy of the GCC region and provides possible alternatives organizations can use in order to minimize expenses.

With most of the GCC region requiring expatriates to hold work permits in order to be reside in the country, this becomes more apparent as a large outflow of expatriates will result in a direct hit to the economy as a whole. In 2008, total of $30 billion were remitted by an estimated 14.5 million expatriate workers in the GCC. It is now reported that the outflow is diminishing and the recipient countries started feeling the pressure.

Most organizations tend to view job cuts and lay offs as an easy to implement cost cutting method. Usually they engage in layoffs in order to save money. Firms face drastic decreases in revenue during a recession and this means they have less money for their human capital. In their pressure to take action quickly they instinctively reach for the axe. However, almost always organizations seem to overlook the side effects these job cuts and mass lay offs cause.

Ms Al Hashem said, “Organizations need to need understand the harm mass layoffs cause to the business and the economy as a whole. We need to look at every other alternative possible that will enable reduction in expenses without having to let go of valuable employees.”

The report reveals that investments the organization makes on the employees in terms of training and experience need to be considered prior to considering layoffs. With organizations focusing on satisfying their short term requirements, such an immense loss of intellectual wealth is almost always ignored even though it carries much weight while considering the long term goals of the business. Over the last three months, more than 1000 Kuwaiti nationals have left the private sector in search of more secure jobs in the public sector. 

Further, the report elaborates on the effect layoffs have on the surviving employees. Quite similar to people who escape harm when others are hurt in a natural disaster or terrible accident, employees who keep their jobs in downturn often feel guilty. These employees that are left behind are seldom thought of as victims in these situations, but in a very real sense they are. Those left behind at the office now have to manage to perform the same amount of work but with fewer resources, and sometimes knowledge, to get the job done.

In conclusion Ms Al Hashem said, “We are in the midst of an economic storm and we should take care that our action do not add to the damage. It would be very idealistic to say that job cuts should be abolished. With all the over hiring and fat packages organizations have been handing out there will be a lot of industry corrections. However, we need to take care that we do not use it indiscriminately. Careful objective analysis should be conducted by unbiased professionals before decisions of such drastic measure are taken.”

Intensive Care for Family Owned Businesses in GCC
08 February 2009, KUWAIT

Family Owned Businesses have always been the backbone of the GCC economy with almost every sector being dominated by businesses run by families. On understanding this, it becomes obvious as to why we must concentrate our time energy and resources toward perfecting these organizations and bringing them to the level of their international counterparts.

Ms. Safa Al Hashem, Chairman & Managing Director of ADVANTAGE Consulting Company, while releasing the latest report titled, “Family Owned Businesses – A Reality Check”, published by the Markets Insights Division (MID), of ADVANTAGE, said, “The Arab culture puts a lot of emphasis on the idea of family. Coupled with the fact that Family Owned Businesses form a significant of the Arab economy, it is plainly obvious that this is a sector that needs immense attention and nurturing.”
The report focuses on the challenges most Family Owned Businesses face in the GCC and how these challenges can be transformed into opportunities for success. The report elaborates on the key challenges faced by Family Owned Firms and how these may affect the overall integrity of the organization. Being part of an international business community these challenges need to be overcome in order to facilitate expansion and growth.

Most Family Owned Firms have operated for decades focusing on local operations or operations within the GCC region. Although, the mere fact that these organizations have passed the test of time demands appreciation, the report reveals that there is immense room for improvement and, consequently, more growth. The necessity of the hour to facilitate this are detailed studies and analysis and most importantly a high degree of empathy.

Ms Al Hashem said, “There is no denying the fact that Family Owned Firms have survived economic downturns, wars, family feuds and other challenges. However, it is more than evident that these businesses have the capacity to perform much better if they are open to reforming their strategies to incorporate the best practices.”

The report reveals that an effective Corporate Governance System is virtually absent in most Family Owned Firms. Owing to the largely patriarchal system in a family it is natural that most family owned businesses in the GCC are conservative and secretive. The report emphasizes the need of Family Owned Firms to overcome this conservative attitude and learn the basics of governance to implement the best practices that exist in family business governance.

Another significant challenge the report emphasizes on is the issue of Succession in Family Owned Firms. Due to the inseparability of the ownership of a business with the management of the business, succession issues go beyond purely formal significance and assume important practical implications for the day-to-day running of a firm. The transition that is required in these organizations is complicated by several issues, most obvious of these being the sheer size of family groups in the region.

In conclusion Ms Al Hashem said, “Having had the privilege to work with a number of Family Owned Firms over the years, we have helped enable various companies with reformed strategies in line with international best practices. Giving these companies the edge that will put them ahead of their competition has always been our goal. ”

Discover the Hidden Treasure - Untapped Wealth of GCC Women
27 January 2009, KUWAIT

The GCC has always been a male dominant society with men taking the major decisions in business. However, with the Arab woman rising in social stature and their largely untouched wealth that has accumulated over the years, it is increasingly difficult to ignore the potential profitable investments.

“It is truly surprising to see such vast potential remain untouched and idle due to the lack of insight on how these resources should be utilized” said Ms. Safa Al Hashem, Chairman & Managing Director while releasing the latest report titled, “GCC Women’s Wealth – The Untapped Equity” published by the Markets Insights Division (MID), of ADVANTAGE.

The report focuses on the status of women in the GCC and the reasons for idle nature of the large reserve of wealth they possess. The report reveals that most women in this part of the world have large reserves of untapped wealth, which when optimally channeled can attain profitable results.
Through years and years of accumulation, the wealth of women in this region has increased radically. With all the financial institutions focusing on the male sector of the market, this segment has remained unnoticed for many years. This has resulted in many lucrative opportunities to slip by.
Ms Al Hashem said, “Although the GCC Woman has progressed considerably with respect to their social standing, there is still a long way to go. The first step we should be taking is to increase awareness of the immense opportunities that are available in the market and how investing in the right channel can reap lasting benefits and unimaginable profits.”

The report recognizes the progress the GCC woman has made over time with higher education from the best universities in the world and making successful careers as top executives and board members in different organizations. Providing examples from the prominent sectors, the report names some of the key women who have not only found success through their hard work and determination but also have been an inspiration for all other women to build successful careers.

The wealth owned by the women in the GCC has now been found to have reached $385 billion of which 60% is reported to be held in cash. This is expected to be just the tip of the iceberg. The report states that this large reserve of idle wealth if channeled in the right manner can generate unimaginable profits. It provides insight on how organizations can attract and entice women to invest their wealth and help them realize the benefits of making their money work for them.

 

   

The report acknowledges the efforts taken by several organizations to ensure that opportunities are made available to women and recommends that others take the initiative to establish new investment products and facilities designed for women. Many organizations have taken the first step to create women-only banks and financial institutions where all employees are qualified female professionals. Special attention and detailed analysis is required to identify the products that cater to this segment, in terms of risk and return requirements

GCC salaries and Recruitment Initiatives under the Scanner – the Aftermath of the Financial Meltdown
17 December, 2008, KUWAIT

Many GCC firms across the board are viewing salary rationalization as a cost cutting solution. Be it firms like Investment Companies or Oil support Services Companies, we are now witnessing a slash in the compensation for new hires, layoffs and change of recruitment plans as more and more firms are resorting to this method.

“We are identifying this trend across various sectors especially Banking, Financial Services, and Insurance,” says Ms. Safa Al Hashem, Chairman & Managing Director while releasing the latest report titled, “Global Financial Crisis and GCC Salary Trends” published by the Markets Insights Division (MID), of ADVANTAGE.
“However, this is a good time to be a recruiter in the labor market. It’s a great advantage to be highly selective and acquire the talent that will help your Company survive,” concluded Safa Al Hashem.
The highlights of the report are summarized below.

Employment expectations in the manufacturing and service sectors remain abysmal.
Banking and Finance sectors are the most adversely affected due to the economic turmoil in the last quarter of 2008. The forecasted salary Increase of year 2009 for the banking and investment sector is 9.2%, which is lesser than last year salary increase (12.2%).

The Real Estate (Development, Construction) sector is the worst affected sector, after banking and finance sector. The forecasted salary increase for 2009 is 10.3% that is marginally higher than the pay Increase of other sectors in GCC.

The FMCG and Oil & Gas sectors were enjoying the steep increase in their salary increases until the third quarter of 2008, 11.9% and 11.0% respectively, is forecasted to fall-down by 8.3% and 8.9% respectively (as forecasted) due to a sharp decline in crude oil prices in the international market and the changes in consumer spending behavior across GCC.

Healthcare sector stood at the bottom of the rankings for the last two years (8.1%,2008) and the trend is expected to be same during 2009 (6.1%) as well.

Fig 1: Average Yearly Salary Increase in GCC (2003 – 2009*)

* Forecasted

And the looser is……

The UAE and Qatar were at the top of the rankings up to August 2008; with average pay increases of 13.6% and 12.7% respectively. The salary increase forecasted for 2009 show a downward trend of 10.9% and 10.2% respectively due to the recent economic downturn.

In other GCC countries like Bahrain, Kuwait, Oman and Saudi Arabia, the percentage of salary increase is also forecasted to fall to 8.4%, 8.1%, 9.7% and 7.8% respectively due to the prevailing economic downturn with many job cuts particularly in Investment, Banking and Real Estate sectors.

Fig 2: Percentage of Salary Increase in GCC - Country wise

* Forecasted

Fig 3: Percentage of Salary Increase by Job Category wise:

* Forecasted

Recruitment Trends

Hiring expectations will drop to the lowest levels in four years, according to ADVANTAGE Report, with manufacturing and service sectors planning to cut payrolls rather than add jobs.

Vacancies in manufacturing and services are at the lowest during November 2008 in four years.

While hiring has slowed overall, top-level talent is readily available for many recruiters.
In November, for the first time in four years, more recruitment firms and placement agencies reported less trouble with recruiting compared to those that reported increased difficulty in the previous years.

The complete report will be available for download from www.consulting-advantage.com after 18th December 2008.

Advantage Consulting Company ventures into Corporate Mergers and Acquisition Advisory
17 November, 2008, Kuwait

ADVANTAGE Consulting Company, the leading Business Advisory firm in the GCC, today announced that it will be venturing into a new avenue in its advisory business by taking on Mergers & Acquisition Advisory.

Ms Safa Al Hashem, Chairman & Managing Director of Advantage Consulting Company said, “After witnessing the current global economic crisis, it is imperative that we do not lose sight of our goals and do everything we can to recover. By venturing into this new avenue we look forward to assisting businesses gain new heights by devising the optimal approach to realizing their strategic objectives, whether to grow through acquisition, maximize shareholder value, or restructure.”

“There is no doubt that the global economic crisis has changed the M&A landscape considerably. Pure-cash buyout transactions will not happen for a period of time simply because the cash for making these transactions is just not available. However this as an opportunity for businesses to consolidate”, said Ms. Al Hashem.

“In a time of crisis” said Ms. Safa, “we need to be aggressively proactive and look for opportunities to match prospective business partnerships, to leverage synergies, improve the financial structure and reduce costs. Our team of experts can help businesses in the identification of strategic partners, buyers or vendors, shortlist the best prospects, as well as formulate negotiation strategies to help businesses achieve the best possible result.”

Ms Al Hashem continued, “This will give rise to a new generation of transactions that won’t be built on the basis of long-term strategic need but which will be built on the basis of short-term need to be able to cut costs, consolidate and bring larger  revenue to the business”

In conclusion, Ms. Al-Hashem said, “The GCC region will the first to benefit from the global money coming back and with businesses eyeing regional expansion and global companies wanting to move into the GCC, our services will help transform businesses and, in this hour of economic instability, I am confident that we can help rejuvenate our businesses and bring our economy back on track.”

ADVANTAGE Releases Critique Report on State Master Plan
20 October, 2008, Kuwait

Markets Insights Division (MID) of ADVANTAGE Consulting Company has included a thorough analysis of the State Master Plan in its last quarterly report. In light of the highly volatile state of the financial markets, this report will prove to be an important road map for the financial, investment and real estate companies in the private sector.

Ms. Safa Al-Hashem, Chairman & Managing Director, ADVANTAGE said, “The plan includes projects that we, as citizens of this country, dream of realizing. We, the citizens of this country, should assist the government and play an active role in the implementation of these plans through collaboration related to Planning & Development Strategy that covers constructional needs, human resources development and economic and commercial aspects. We also have to take into account, upon implementation, the available financial and geographic potentials that are available in order to ensure satisfactory results and to avoid obstacles".

Ms. Al-Hashem emphasized: "The importance of the State Master Plan cannot be emphasized more, provided it is fully implemented over the next 10 – 15 years. The effectiveness of the Master plan is related to the strength of the following factors:

1. Dissolve the government monopoly on lands in line with demographic growth;
2. Provide the best possible solutions and avenues for human development;
3. Pay more attention to education and health sectors and this will positively reflect on the State’s role to undertake its expected duties to be a financial and commercial centre;
4. Create an attractive diversified-income investment climate;
5. Create a strong transportation network;
6. Pre-qualify human efficiencies prior to their graduation and implant values that our human capital currently missed, i.e. work passion and conscience spirit in performance of work;
7. The state should anticipate employment opportunities by relating it to the output of government and private education sector; and
8. Improve infrastructure services through creating linkage between the decisions of Municipality and other State ministries and private sector facilitates participation in the infrastructure development.

So it is essential that both private and public sectors have to adopt a business specific path and a clearly defined road map for implementation of the Master Plan.".

Ms. Al Hashem added, “The announcement of these plans and its quick and effective implementation is of immense importance when attempting to tackle one of our most troubling weaknesses, namely our dependence on oil as a main source for Gross Domestic Product (GDP) or Gross Domestic Income (GDI) Oil currently generates more than 80% of our revenues and contributes to more than 90% of Kuwaiti’s exports. This dependence on a single source makes Kuwait vulnerable to a permanent risk, particularly with decline in current oil prices and the drop in oil barrel price less than US$80. Although this limits the impact of the global financial crisis on Kuwaiti’s economy, it still leaves Kuwaiti economy uncomfortably vulnerable.”

Ms. Safa said, “Although the financial inflation taking place now is expected to reduce throughout the period from 2009-2012 and reach 8.8% for Consumer Price Index (CPI), we still blame the “loose” Kuwaiti financial policy for leading us into this present situation. Government expenditure increased by 50% in 2006 – 2007 and such increases will continue as the government attempts to control and absorb the effects of the inflation. Therefore, the current government should understand that additional measures such as subsidies and salary increase may not be viable on the medium and long term as a radical solution, when announcing the details of the development plan.”
Ms. Safa recommended, “that the government withhold the announcement of the plan details until a clear vision of the present financial crisis is available. Such a plan should be discussed prior to announcement with an ad hoc committee comprising of members from The Chamber of Commerce & Industry, Financial Committee of National Assembly and Council of Ministers in order to reach the best structure for implementing such plan.

In conclusion, Ms. Al-Hashem affirmed that: "Even while we are at the peak of the current economic crisis, we work on updating the data in such reports combined with the amount of cash injection by Central Bank of Kuwait to banks and investment sector to rescue Kuwait Stock Exchange (KSE) and economical situation in general from the challenges they suffer. However, we should all be aware that this is a global crisis. Therefore, it is not proper that solutions provided to support confidence and promote liquidity are separate from events taking place in the neighbor and international markets".

ADVANTAGE Releases Briefing on Customer Relationship Management Practices in the Banking Sector
25 August, 2008 , Kuwait

Markets Insights Division (MID) of ADVANTAGE Consulting Company recently released a briefing on the Customer Relationship Management (CRM) in the Banking Sector. The report focuses on the Customer Relationship Management practices in the commercial banks in the GCC.

Today's banking industry -- which has spent the past decade adapting to consolidation, globalization and new regulatory environments -- is concentrating on organic growth through cross-selling and up-selling. At the same time, it is addressing the challenge of customer retention, which represents a major threat across many industries.

The report highlights the importance of improving CRM in the commercial banking sector, since it is significantly dependent on its customers and, more importantly, ensuring customer satisfaction. CRM is a key pillar of any bank's business strategy. Increasing revenue is imperative for a bank, and this can be done only if banks continue to deepen their relationships with customers and provide the benefit of the full range of solutions in meeting their needs.

The study indicated that commercial banks in the GCC lose a good amount of business and revenue as a result of poor customer service and customer handling. The report further reveals that most banks do not maintain a ready to use customer database. Moreover, in most cases, the CRM was considered as a technology project and not given due focus by business drivers.  This has resulted in a huge investment being overlooked.

The study further revealed that although most commercial banks across the GCC have reported profits, there is no record of losses that resulted from poor customer handling practices. In addition, although the assets and profits of banks in the GCC region are on a consistent high, the gap between the Customer Service Quality of the bank and the Customer's expectation is widening.

The report provides a set of guidelines to executive managers in the banking sector, on improving Customer Relationship, in order to increase their awareness of its importance and its impact on Bank profits. The report also reveals that even the private banking services sector does not provide adequate customer services in comparison with their counterparts in the Asian and European markets. This has resulted in customers changing their bankers at a large scale. The report lists the challenges faced by the GCC based banks to include - lack of transparency, poor response to customer's requests and very limited, if not absent, follow-up of the customer's requests as well as poor banking offerings through online and telephone banking.

The study was conducted through a random survey of leading banks in Sultanate of Oman , Kingdom of Saudi Arabia , United Arab Emirates (selected Emirates), Kingdom of Bahrain and State of Kuwait. The highlights of the report are as follows:

75% of respondents across UAE, Kuwait and Bahrain considered customer services provided to them is below average.

55% of nationals in Sultanate of Oman receiving private banking see no difference in customer service provided in Kuwait and KSA.

4% of executive managers in different commercial banks in Kuwait and Bahrain confirmed that if banks pay attention to 5% of those residents' deposits, they would be able to generate minimum KD 550 million worth business.

30% of account managers in Kuwait , Oman , Bahrain and UAE recommended that Walk-in-Customers should be given more priority as their fixed deposits are steadily increasing and their recommendation of the bank and its services to friends and family has a considerable impact on enhancing business.

If attention is increased for 10-20% of this group, 30-40% more business is possible.

The study showed that although with the increasing competition among local banks in the GCC region, the opening of new branches and the entry of foreign banks to provide retail banking, there has been some development or attention to enhance customer services; a large group of "normal" customers still experience poor or bad service.

The following are the findings brought to light by the survey conducted on "normal" customers residing in Kuwait , Bahrain and Sultanate of Oman:

70% rarely use telephone banking

90% request various banking services by visiting their branches

40% complained the lack of product knowledge of the customer-facing staff

The report concludes providing recommendations towards enforcing a distinctive customer service strategy for all customer groups and how to realize better returns through compliance with service quality, conducting studies on various categories of customers, and most importantly maintain customer handling etiquettes. The bank should be sensitive to the requirements of the customer with respect to speedy processing of requests. The paradigm shift the GCC banks should adopt is to focus from "Creating Sales" to "Generating Satisfied Customers".

Ms. Safa Al Hashem, Chairman & Managing Director, Advantage Consulting, said "The sheer magnitude of the sector combined with the extreme competition in the GCC markets makes it extremely important to shift our focus toward improving customer service in the banking sector".

"The briefing is intended to set alarm bells ringing through the local banks in each country that have become satisfied with their clientele base and assume that the competition among the banks in the Gulf will not impact them. They must understand that relying on local reputation and social networks is not in their best interests. Our report has brought to light the impact and the influence of expatriate customers on the banking sector as well", added Al Hashem.

The Securities House signs with ADVANTAGE for Advisory Services
13 July, 2008, Kuwait

The Securities House, Kuwait , one of the most successful investment companies in the region committed to seeking and providing distinctive and innovative investment opportunities, has engaged ADVANTAGE, a world-class Strategic and Business Advisory and Outsourcing Provider, for streamlining its business processes.

"ADVANTAGE is very excited to partner with The Securities House as we have the Best Execution knowledge to provide such services. Over the last few years we realized that there is a real demand for corporate advisory services that goes beyond mere recommendations and that covers all aspects of review, design and implementation," explained Safa Abdulrahman Al Hashem, Chairman and Managing Director.

“Unlike comparable services, which generally have a readymade framework, ADVANTAGE provides advice that has its foundations in independent and client-specific solutions. Thanks to the results obtained over the last 2 years, ADVANTAGE enjoys immense credibility in Business Advisory and has developed a strong high performance culture," said Safa Al Hashem .

“Determined to adopt the highest international standards and to obtain solid validated processes, The Securities House has strategically chosen to deploy the services of a leader – ADVANTAGE - which has a proven track record to deliver in-depth Business Advisory”, said Ayman A. Boodai, Chairman and Managing Director, The Securities House.

Advantage Consulting Company strengthens Business Enhancement Team
1 July, 2008 , Kuwait

ADVANTAGE Consultancy Company, the leading Business Advisory in the GCC, today announced that it has strengthened its Business Enhancement Team with the induction of Mrs. Ghayda'a Abdul Aziz Al Shamali. This move is to cater to the growing demand for its services in the GCC.

Ghayda'a starts with her role in ADVANTAGE from 1 July 2008 , where she will be the Business Development Manager for the entire GCC, primarily for Kuwait .

“Ghayda'a will have direct responsibility for managing and building on ADVANTAGE's existing relationships in the region. In addition, she will have a significant role in creating relationships with new clients and, consequently, enable ADVANTAGE to expand further into MENA” said Mrs. Fatema Al Roumi, Head of Enterprise Support, ADVANTAGE.

“Ghayda'a brings to ADVANTAGE a wealth of experience in the corporate market and provides the necessary complementary skills to our business. Her appointment further strengthens the Business Enhancement team and demonstrates ADVANTAGE's commitment to the market”, added Fatema Al Roumi.

“Since inception, ADVANTAGE has focused on enabling qualified Kuwaiti cadets to aspire to lead roles through our commitment towards Kuwaitization. Ghayda'a is our latest addition in this regard”, said Ms. Safa Abdulrahman Al Hashem, Chairman & Managing Director of ADVANTAGE.

“With the wide spectrum of our Advisory Services and our ever-growing clientele, we feet that the time has come to enhance the management structure to take our innovative solutions to more business houses in the region”, added Al Hashem.

“The strengthening of our Business Development team will allow ADVANTAGE to have a pro-active approach towards the expansion and identification of new opportunities for our services and business in the future, strengthening our place as the region's Business Advisory leader”, continued Ms. Al Hashem.

“I am particularly excited about the caliber of our recent appointments as each of the individuals has top class experience and will help develop our operations. It is a great compliment that they have decided to join ADVANTAGE", concluded Ms. Safa Al Hashem .

Commenting on her appointment, Ghayd'a Al Shamali said,”I am delighted to be joining a forward thinking business led by a very strong Kuwaiti business woman who understands and is committed to the needs of the corporate market.”

Safa Al Hashem urges government to reinstate the Ministry for Planning and also to incorporate Human Resources Development Portfolio.
press release, June 1, 2008

In a special statement to the press, Ms. Safa Al-Hashem , Chairman & Managing Director, Advantage Consulting, said, “There has been an increasing awareness that the people of the country should be looked upon as it's valuable resource-indeed; the most valuable resources and that our growth process should be based on the integrated development of citizens beginning with childhood and going right t hr ough life. It is increasingly realized that all relevant instruments and agencies contributing to or responsible for this growth should be integrated in order to ensure all-round development in pursuance of this idea. A new Ministry should be created under a suggestive name, Ministry of Planning and Human Resource Development”.

“I believe that this is the right time to consider this suggestion as we are expecting new representatives and new government soon. The core objectives of such an entity would be to establish the strategy and action plan for officials in charge of application thereof; provide guidance for developing human resources and potentials and identify framework for individuals to achieve highest standards of quality and excellence. Gulf and regional countries have already applied this concept. In Sultanate of Oman, we could see that there is a specialized ministry for development of manpower and equipping individuals to undertake their roles and responsibilities effectively”.

Ms. Safa Al Hashem further emphasized necessity for establishing a roadmap for evaluating the government departments' performance evaluation.

“We, the private sector, operate based on clear vision and plan governed by regulations. Therefore, to achieve maximum benefit, it is advisable to have integration among government entities and the private sector under the auspices of the National Assembly (the legislative) and the Government (the executive authority). It is a matter of fact that the performance of some of the institutions turned to be agonizingly weak as a result of raising other issues that have no relation with the planning, development or economy or human development; so that we can activate many approved, but not enforced decisions. Therefore, we, as private sector, reiterate once again that we are ready to complement these initiatives with the strategies and methods in relation to concepts or application. T hr ough our experience gained from our business in providing services to private sector, we can determine key principles of work excellence concept”.

Ms. Al Hashem emphasized: “We intend to provide only the proposal and the mechanism for such an application and the authorities will have the option to accept or reject. Earlier, we put forward the idea to institute a State award named "Performance Excellence Award” which is designed by Advantage Consulting for enhancing performances of the government entities (namely Ministries and Public Institutions, Government Projects from a technical / management scale, People or departments).

Ms. Safa Al Hashem clarified, “Main components of the Award model include 5 assessment criteria, namely, leadership, effectiveness of policies and strategies, staff utilization and resource optimization whether human or financial and operational. There are t hr ee Key Result Areas, namely, service beneficiaries (clients), staff satisfaction and realization of agreed objectives.

“The main objective is not competition or comparison among ministries, governmental institutions or companies; rather it is to develop and enhance governmental sector performance t hr ough adoption and practice of core standards of institutional excellence.”

In conclusion, Ms. Safa Al-Hashem asserted: "let us at least start with the first, small step as the journey is still so long".

ADVANTAGE emphasizes on the importance of Corporate Social Responsibility.
press release, June 1, 2008

In a special statement to the press, Ms. Safa Al-Hashem , Chairman & Managing Director, Advantage Consulting, emphasized the significance of the Corporate Social Responsibility and how ADVANTAGE is helping such companies who are embracing this new concept.

"We want companies, especially the listed entities to regard Corporate Social Responsibility (CSR) as a principle aligned with their business strategies. They need to realize that by implementing socially responsible and sustainable programs that bring long term benefits to society, they are also helping to make their businesses sustainable long term," said Ms. Al Hashem.

ADVANTAGE with a background in strategy consulting for functional areas, are adept with the concepts of syndicated as well as customized creative requirements. This new step into the arena of vital CSR practices for market leaders is expected to influence stakeholder value for these companies.

Ms. Al Hashem adds, "The public is always watching. They have and will always know the impact of philanthropic and environmental operations by brand owners. In times of crises, goodwill gained from CSR will enable these companies, to tide over tough times."

The services from ADVANTAGE that would complement CSR initiatives include custom built presentations, guidelines on public interaction and PR campaigns as applicable.

Finally, Ms Safa emphasized: “A strong CSR campaign begins with identifying the various socioeconomic factors and the brand metrics that are in place. The public's ratings may be strongly coupled to several localized indicators. Guiding the corporation through the whole process will involve an optimum framework for CSR”.

NUREC partners ADVANTAGE to drive organizational restructuring initiatives
05 May, 2008, KUWAIT

ADVANTAGE announced in a special press note that Nakheel United Real Estate Company (NUREC) has engaged them to support NUREC's restructuring initiatives.

NUREC was established in April 2001 as an Islamic Sharia based Real Estate development and Investment Company. NUREC specializes in complete project management and turnkey contracts. The company's forte is managing the entire process from start to finish and ensuring timely project delivery. NUREC is dedicated to delivering a high quality of services to its clients t hr ough talented and experienced employees.

Mr. Esam Al-Mailam, Chairman & Managing Director, NUREC, emphasized that: "Our vision for partnering with ADVANTAGE is to combine our individual strengths and build a strong platform to deliver in the regional and global Real Estate market. We are looking forward to building a Real Estate platform for development and investments with a unique philosophy and vision ".

Al Mailam affirmed: "We are looking forward to having business with ADVANTAGE and continuing the existing relationship in a wider scale when we finalize the initial phase and start the implementation ".

Safa Al Hashem, Chairman and Managing Director of ADVANTAGE said, "We are excited to provide our Advisory to NUREC. Besides from the normal Advisory services, NUREC will benefit from ADVANTAGE's Special Edition Real Estate Salary Survey Report”.

“ Due to our increasing engagement with progressive companies in this sector, and t hr ough our Partners in the Region, our Markets Insights Division (MID) has compiled the latest Compensation and Benefits data with a special focus on the Real Estate Sector for the First Quarter of 2008.

“MID's research indicates a noticeable gap in the Demand versus Supply for qualified and experienced Professionals in this Sector. Accordingly, our Executive Search Division faces huge demand from many of our clients to fill in top positions with non local cadres, particularly in UAE, Kingdom of Saudi Arabia, Kuwait, Qatar, Bahrain and Sultanate of Oman”, said Al Hashem.

“As a result of the high inflation levels in these countries including Kuwait, which led to the increase in property prices, credit facilities and Real Estate funds have triggered construction ventures and an increase in the Gross Leasable Area (GLA), creating high demand for Real Estate, Insurance and Finance Professionals”, concluded Safa Al Hashem.

Jabriya Cooperative Society engages Advantage
05 April, 2008, KUWAIT

ADVANTAGE Consulting Company (ACC) stated today, 05 April 2008, that Jabriya Cooperative Society (JCS) has engaged ACC to provide comprehensive Business Advisory Services to streamline JCS's operations and to provide enhanced ‘Customer Shopping Experience' .

Jabriya Cooperative Society always strives to provide quality products and good services to its customers.

Commenting on the engagement, Ms. Safa Al Hashem , Chairman & Managing Director of ADVANTAGE said, “Jabriya Co-op being our first among the Co-operative Societies in Kuwait , we look forward to providing them with our proven expertise in operational enhancement.”

"Empowering our clients with the decision making capabilities complemented with sound procedures to manage their business in the most efficient manner is the slogan we stand by," said Ms. Al Hashem.

Mr. Hisham Al Baghly, Chairman of the Board of Jabriya Co-operative Society, while explaining his expectations of this engagement said, “The decision to bring in ADVANTAGE clearly indicates our commitment towards our Customers. We expect ADVANTAGE to provide significant insights on developing our business model to help us align with our vision effectively and efficiently”.

“JCS sets a new trend by engaging a consultancy firm to streamline its business capabilities to enhance customer care”. We are streamlining the processes and systems prior to moving to our new premises”, said Mr. Mohammed Jawad Kazem, General Manager of Jabriya Cooperative Society.

In conclusion, Ms. Al-Hashem said , “The Customer Loyalty is one of the key factors we will be focusing on while delivering our Advisory to JCS. We, at ADVANTAGE are excited to add JCS to our ever growing list of clients and look forward to providing them with our expertise that would empower JCS to move to the next level”.

Safa Al Hashem bags “Business Woman of the Year” Award
11 March 2008, Kuwait

Ms. Safa Al Hashem , Chairman and Managing Director of ADVANTAGE Consulting Company (ACC) has won the "Business Woman of the Year" award at the 7 th Middle East Businesswomen & Leaders Achievement Awards constituted by the Middle East Excellence Awards Institute, UAE. The award was presented to Ms. Al Hashem by Hon. Mary Robinson, Former President of Ireland on the 8 th March 2008 at Burj Al Arab Hotel in Dubai . The ceremony was attended by diplomats, leading business leaders and politicians from the region.

The Middle East Excellence Awards Institute was conceived to recognize and promote leadership and entrepreneurial forays within the region.

The 7 th Middle East Businesswomen & Leaders Achievement Awards were given for 6 major categories. Ms. Safa Al Hashem was nominated for the “Business Woman of the Year” Award that identifies a woman from the region, who leads her business with great success. It recognizes the innovative, financial, entrepreneurial, and people skills that make her a good businesswomen with visionary strategies that achieve extraordinary results. Her commitment to her business, as well as her concern for the community, was noted while seeking the winner. From many nominations, Ms. Safa emerged as the winner.

Commenting on the award, Ms. Safa Al Hashem said, “I am truly honored to be recognized among such an outstanding group of visionary business women. This award confirms that with hard work and commitment, women can achieve success, especially areas that are primarily dominated by men. I thank all for the nomination”.

This month (March 2008), Ms. Safa Al Hashem was honored by the National Assembly of Kuwait as one of the “Prominent Woman Personalities” in Kuwait by the Parliament Committee on Woman's Affairs.

Earlier, Ms. Safa was adjudged the “Female CEO of the Year” in October 2007 by the CEO Middle East Awards. In December 2007, Ms. Al Hashem was listed in the GCC's Top 100 Executives by the Arabian Business Magazine.

Parliament Committee Features Safa Al Hashem as one of the prominent female personalities in Kuwait 
March 2, 2008, KUWAIT

Ms. Safa Abdul Rahman Al Hashem, Founder and CMD of ADVANTAGE Consulting Company (ACC) is featured in the List of Prominent Woman Personalities selected by the Parliament Committee on Woman's Affairs.

The award will be presented to Ms. Al Hashem on the 10 th March 2008 at the National Assembly Hall by H.E. Jassem Al Kharafi, the Kuwait National Assembly Speaker.

Commenting on the selection, Ms. Al Hashem said, "It is a great honor to get nominated by the National Assembly and Parliament Committee on Woman's Affairs. Moreover, it is a privilege to receive such an honor from my motherland Kuwait , after receiving several awards from the region."

She added: “This is a clear-cut affirmation of Kuwaiti woman's role and achievements. The year 2008 is designated as Year of Gulf Woman throughout the regional states and this will be the most appropriate initiative by the National Assembly to honor Kuwaiti female prominent figures in various fields."

It is noteworthy that under the leadership of Ms. Safa Al Hashem, Advantage Consulting Company, the leading Advisory Service Provider grabbed 28% of local and Gulf market share in addition to achieving a growth rate of 32%.

In October 2007, Ms. Al Hashem was adjudged the “Female CEO of the Year" by the CEO Middle East Magazine .

Safa Al Hashem featured in the GCC's Top 100 Executives List
30 December 2007, KUWAIT

ADVANTAGE Consulting, (ACC), in a statement stated that Ms. Safa Al Hashem , Chairman & Managing Director has been listed in the GCC's Top 100 Executives by the Arabian Business Magazine.

The objective of the exercise by the Magazine was to identify and highlight some of the executives with the most astute business acumen in the GCC.

In the accompanied article, The Arabian Magazine explained, “In a region where new companies, developments and opportunities spring up each day; where financing is straightforward and unproblematic; and where there is the space and infrastructure to undertake any project, it is difficult to pick out the highest achievers without some being left out.”

“The criteria for inclusion in the final list was based on what the company, and therefore the executive at the helm (often the CEO, sometimes the Chairman or President), has managed to achieve over the course of the past 12 months.”

“We tried to find groups that had realized their set goals - whether that was achieving financial growth, project completion, brand expansion or consolidation - rather than those that, as yet, that had very little to show for with their potential or their large organizations whose development had not progressed.”

Earlier in October, Ms. Al Hashem was adjudged the “Female CEO of the Year" by the CEO Middle East also.

Al-Omran Real Estate Development Company Engages Advantage
10 December 2007, Kuwait

Ms. Safa Al-Hashem , Chairman and Managing Director of Advantage Consulting Company (www.consulting-advantage.com) announced today that Al Omran real Estate Development Company has signed with ADVANTAGE for a comprehensive Business Advisory Service.

Commenting on the engagement, Mrs. Safa Al-Hashem, the Chairman and Managing Director of ACC, stated that: “We will strive to provide the best services possible, and are overwhelmed with the confidence that we have been given throughout our existence within the market. We are pleased to add Al-Omran to our growing clientele and looking forward to a continuous thriving relation with the company in the future.”

“Furthermore, it is an honor to mention that ADVANTAGE now enjoys more than 28% of the market share, which includes both listed and closed shareholding companies.”

Mr. Majid Al-Qimlas, General Manager of Al-Omran has commented: “Due to the well known reputation and excellence of ACC, Advantage has become a reliance to the local and gulf market which encouraged us to engage them to reinforce our business through their professional guidance, and implementation support.”

OBEIKAN Investment Group teams with ADVANTAGE
14 November 2007 , KUWAIT

Advantage Consulting Company (www.consulting-advantage.com), one of the fastest growing business advisories in the GCC, announced today that the Obeikan Investment Group (www.obeikan.com.sa ), has engaged them for business advisory services. The Group's core business activities include printing, packaging and publishing.

Commenting on the engagement, Ms. Safa Al Hashem, Chairman & Managing Director of Advantage, said, “With this project, we mark our entry into the Saudi market”.

“Under the agreement, ADVANTAGE will provide a comprehensive restructuring that would enhance the business processes, communication protocols and thereby improve the synergy in the group”, said Ms. Safa Al Hashem.

When asked what ADVANTAGE has to offer the businesses in Saudi Arabia , Ms. Al Hashem said, "ADVANTAGE being a local consultant with international standards along with rich heritage of Business Advisory expertise; it could easily add value to the local market. Currently, we enjoy the leading position in the GCC.

"What makes ADVANTAGE's services so unique is very simple; we ensure that the service delivery is exclusively based on a participative approach. We ensure that at every stage of the project, the client is involved and knowledge transfer is imparted”, added Ms. Al Hashem.

Sheikh Fahad Abdullah Al-Obeikan, Chairman of Al-Obeikan Investment Group , said “As we are the leaders in the packaging industry across the region, we are committed to provide superior services for our clients, suppliers and strategic partners”.

“We hope that ADVANTAGE's professional team would provide us with smart solutions and equip us to excel in core areas of our operations," added Sheikh Fahad Al Obeikan.

In conclusion, Safa Al Hashem said: "We look forward to this assignment as it comes in the wake of our continued success and increasing demand for our services throughout the GCC. We hope to have a win-win relationship with Obeikan.”

Ashish Kumar Jain Receives ASQ-Certified Six Sigma Black Belt Recognition
05 November 2007 , Kuwait

ADVANTAGE Consulting Company announced today that Mr. Ashish Kumar Jain, Assistant Vice President, Business Advisory, has completed the requirements to be named an ASQ-Certified Six Sigma Black Belt (ASQ CSSBB) from the Certification Board of the American Society for Quality.

“ASQ provides certification as a way to provide formal recognition to professionals who have demonstrated an understanding of, and a commitment to, quality techniques and practices in their job and career,” explained Mr. Rajit Nair, Vice President, Business Advisory felicitating Ashish on the achievement.

“This is a great accomplishment and, although not a formal registration or licensure, bestows a high level of peer recognition as well”, commented Mr. Rajit Nair.

“A Certified Six Sigma Black Belt is a professional who applies Six Sigma philosophies and principles, including supporting systems and tools in a variety of business situations. A Black Belt demonstrates team leadership and manages team dynamics in all aspects of the DMAIC model (Define, Measure, Analyze, Improve, Control) and can maintain Six Sigma principles. Black Belts understand lean enterprise concepts and can identify non-value-added activities using specific tools”, explained Ashish Kumar Jain after receiving the Certificate.

Safa Al Hashem receives “Female CEO of the Year” Award
25 October 2007 , Kuwait

Ms. Safa Al Hashem, Founder of ADVANTAGE Consulting Company (ACC) has received the "Female CEO of the Year" award at the CEO Middle East Awards 2007.

The award was presented by HE Sheikha Lubna Bint Khalid Al Qasimi, UAE Minister of Economy during the annual CEO Awards ceremony, held on 23 rd October 2007 in Dubai , and attended by the region's business leaders. The dignitaries includes, Mr. Abdulla Y. Bishara, Vice Chairman of KIPCO Group, Eng. Salah Al Shamsi, Al Qudra Holdings, Mr. Sulaiman Al Fahim, CEO, Hydra, Mr. Mohammed Khalfan Al Qamzi, CEO, Etisalat , Eng. Ahmed Saleh Al Yafei, COO, Al Qudra Industrial Company.

The inaugural CEO Middle East award was constituted for 16 categories ranging from Financial services to Corporate Social Responsibility.

Ms. Safa Al Hashem was selected as “Female CEO of the Year” by a special panel of judges who examined the performances of a number of companies and individuals across all sectors of business.

In a post event press conference, Ms. Safa Al Hashem said, “I am proud to receive this award as I represent the vibrant, entrepreneurial female executives in the region”.

“This award will be added as a tribute to the success of ADVANTAGE,” said Ms. Al Hashem.

Safa Al Hashem bags “Female CEO of the Year” Award
17 October 2007 , Kuwait

Ms. Safa Al Hashem, Chairman and CEO of ADVANTAGE Consulting Company (ACC) has won the "Female CEO of the Year" award at the CEO Middle East Awards 2007. The award will be presented to Ms. Al Hashem on the 23 rd October 2007 at Mina Al Salam Hotel in Dubai .

The award was constituted to recognise the achievements of the region's leading business visionaries across all industries.

The inaugural CEO Middle East award has been selected through an online voting process which had over 5,000 responses. Readers of CEO Middle East voted and selected their peers. These awards will publicly recognise the business personalities who, through a combination of leadership skill, incisive vision and strength of character, have advanced their organisation's strategic goals both locally and abroad. The winners are individuals who are admired and respected by those they lead and the investors who have entrusted them with the responsibility of growing the business and reaping financial rewards.

After receiving several hundred nominations in each category, ITP's special panel of judges has selected Ms. Safa Al Hashem as the outright winner.

Commenting on the award, Ms. Safa Al Hashem said, “I am truly honored to be recognized among such an outstanding group of visionary business leaders. This award symbolizes the hard work that was behind to establish a full fledged consulting company in Kuwait and then replicate its success in the GCC. I thank the panel and all peers for the nomination”.

"I have been enormously impressed with the business and market position of CEO Middle East, and I am thrilled by the opportunity to work alongside them as we advance ADVANTAGE to its next phase of growth."

Also, I would express my gratitude for the continued support that I receive from KIPCO group, one of the leading groups in the MENA region".

"I am moved by this honor and in return I urge all youngsters in the region to be entrepreneurial and innovative to come up with business ventures in their respective countries or elsewhere," added Safa Al Hashem.

ADVANTAGE shaping young minds through tailored Program
ADVANTAGE press release, 21 August 2007, Kuwait

Delivering on its commitment to provide opportunity and corporate exposure to Kuwaiti youngsters, ADVANTAGE (www.consulting-advantage.com) announces the successful culmination of its summer internship program. The program was specially designed for young graduates to get insights into business consulting allied fields.

This year's program participants were Suad Waleed Khalid (Faculty of Law), Shaikha Adnan Al Mathkoor (Faculty of Administrative Sciences) in addition to Fahd Waleed Al Mudaf, a Master degree holder and a doctoral student. The program was coordinated by Fatema Al Roumi , of ADVANTAGE and was supported by Ali G. Al Nakib, graduate in Marketing from GUST, who recently joined ADVANTAGE.

The program was designed to encourage and support aspiring students in their effort to develop a systematic foundation and pursue best practices in all business areas.

“It is gratifying to welcome such an accomplished group of students, who I know will go far in building a firm foundation of leadership in their respective fields,” said Ms. Safa Al Hashem, Chairman and Managing Director of ADVANTAGE. “The track record of this group of students would indicate what a valuable investment we made.”

The program was designed to support, stimulate, and tap into the intellectual capital in academia to address current and future challenges, while at the same time educating and inspiring the next generation of Kuwaiti graduates to be entrepreneurial in their outlook.

“We appreciate their passion and their commitment, and we congratulate them on their successful completion,” said Ms. Al Hashem.

“This experience was very unique and gave me an opportunity even to visit one of the leading businesses in Saudi Arabia . I have acquired hands-on practical experience and skills, which I am confident would enrich my pursuit for the thesis,” said Fahd Al Mudhaf.

Suad Waleed Khalid, one of the attendees, expressed her satisfaction for the experience provided by this 2 month program. She said, “I have gained knowledge in HR best practices, survey designing, administration and report writing”.

Shaikha Adnan Al Mathkoor was delighted in the opportunity provided by the program that includes reviewing of financial policies and procedures, analyzing company financials and the like.

Shaikha Adnan Al Mathkoor said, “This experience had its impact on my modest knowledge and made me feel as if I am one of the key employees in ADVANTAGE. I acknowledge that this was a rare opportunity, only few would get to experience the ‘reality' of what we had learned from our textbooks. Our textual knowledge was put into test in practical situations, which actually measured our understanding of the theory and showed us how it should be practiced in a corporate environment.”

All participants lauded the robustness of the program, the wonderful corporate life in ADVANTAGE and the team spirit of the ADVANTAGE team.

Fatema Al Roumi and Business Advisory Team of ADVANTAGE bags Top Awards.
ADVANTAGE press release, 5 June 2007, Kuwait

ADVANTAGE Consulting Company's employee Fatema Al Roumi has been awarded the Best Employee of the Year Award for her outstanding contribution in supporting the Human Resources and Marketing initiatives in ADVANTAGE.

The award was presented by Mr. Faisal Hamad Al Ayyar, Chief Executive Officer, KIPCO during the “Shafafiyah Forum 2007” held on the 14 th of May 2007.

Al Roumi was awarded for her exceptional dedication and performance during 2006.

Among the other awards, Business Advisory Team of ADVANTAGE bagged the Best Team Award. On behalf of the Business Advisory Team, Rajit Nair, Vice President, Business Advisory, received the award from Mr. Faisal Al Ayyar.

Commenting on the awards, Ms. Safa Al Hashem, Chairman & Managing Director of ADVANTAGE Consulting Company said, “We are honoring those individuals who have set an example of providing technical rigor, open communications, and perseverance in meeting our corporate goals through excellence. Through their individual and group efforts, they are being recognized for their efforts and achievements in the areas of subject knowledge, leadership, teamwork, and communication.”

"This award warrants extra effort from my side in the upcoming year as well. I thank Ms. Safa Al Hashem and our ADVANTAGE team for all their support," said Fatema Al Roumi after receiving the award.

Thanking the entire ADVANTAGE Team, Mr. Nair said , "This is in recognition of our teamwork and dedication. In return, Business Advisory Team assures that we will translate this honor to more success, in the coming years.

Abu Dhabi Securities Market Engages ADVANTAGE Consulting Company
ADVANTAGE press release, 28, May 2007, Kuwait

Advantage Consulting Company (www.consulting-advantage.com), one of the fastest growing management consultancy companies in the GCC, announced today that Abu Dhabi Securities Market (www. adsm.co.ae) has engaged them for management services that include Executive Search Service.

“Under the agreement ADVANTAGE will provide top-notch services that would consolidate ADSM's growth strategies”, said Safa Al Hashem, Chairman & Managing Director of Advantage.”

Saif Al Mansouri, the Executive Director of ADSM stated, "As we embark on our growth strategies, we have selected a prestigious and experienced GCC.-based consulting firm, which is ADVANTAGE.”

“ADVANTAGE's professional team brings expertise in all fields of the consultancy and understands the needs of their clients," added Al Mansouri.

Commenting on the new engagement, Safa Al Hashem, Chairman, said:

"We look forward to this assignment as it comes in the wake of successful and increasing demand for our services throughout the Emirates and elsewhere. We hope to have a long standing win-win relationship with ADSM.”

Al IMTIAZ Signs with ADVANTAGE for Business Advisory Services
ADVANTAGE press release, 28, May 2007, Kuwait

Ms. Safa Al-Hashem , Chairman and Managing Director of Advantage Consulting Company (www.consulting-advantage.com) announced today that Al Imtiaz Investment Company has signed with ADVANTAGE for a comprehensive Business Advisory Services.

Al-Imtiaz Investment Company headed by Mr. Ali Ahmed Al-Zubaid, the Managing Director and CEO, targets banking and investment sectors in the GCC without neglecting foreign markets in Arab and Islamic neighboring countries (www. alimtiaz.com).

Speaking on the occasion, Ms. Al Hashem emphasized that, “We are delighted with this engagement as this reconfirms our continued success with the investment companies, and especially the Sharia'h based companies in the GCC.

Mr. Ali Ahmed Al-Zubaid expressed his satisfaction in bringing Advantage Consulting onboard and stated that, “ADVANTAGE's capabilities in delivering the Business Advisory services are well-known. Engaging ADVANTAGE was a strategic decision to help us realize our corporate objectives”.

Commenting on the nature of the engagement, Mr. Al Zubaid said, “We are confident that ADVANTAGE has the domain expertise to match our requirements that includes streamlining, reengineering and implementation of our business processes, redefining the human asset management programs, policies and procedures and the like”.

In conclusion, Ms. Safa said, “We are strongly committed to assist forward looking companies like Al Imtiaz Investment. Our role as Management Consultants does not stop by providing the Business Advisory; rather it enhances the long-term relationship with the client through the implementation of Corporate Quality (CQ) for one complete year. During the implementation of Corporate Quality System, the client company will benefit from our expertise in Organizational Development, Business Reengineering and Productivity Enhancement techniques etc.”

Flex Group of Companies Engages Advantage
ADVANTAGE press release, May 19, 2007

Ms. Safa Al Hashem, Chairman & Managing Director of ADVANTAGE Consulting Company (ACC), a leading management consulting company with its headquarters in Kuwait , announced today their engagement with Flex Group of Companies. Flex Holding is represented by Dr. Hussain Al-Sayegh; it is one of the leading Resorts & Real Estate, Health & Spa service providers in Kuwait.

Explaining the nature of the assignment, Ms. Safa Al Hashem emphasized that, “We believe that the services we provide whether to the holding company - Flex Development or its affiliates would lead them to a well-defined road map for optimal realization of its business objectives.”

Al Hashem continued, “Advantage Consulting services are tailor-made to suit client's requirement. The range of services, flexibility in implementation and the post-sales support we provide makes our services unique and value-adding".

She continued, “Corporate Quality (CQ), the Quality System we have launched last year is now redefining the majority of the user company's approach towards policy and process implementation. It is an integrated concept of identifying business processes and its continuous enhancement. We ensure that the relationships with our clients are continued even after the end of the mandate period through the implementation of CQ”.

In conclusion, Ms. Safa said, "We are extremely delighted to provide our service to Flex Holding as it is an emerging name in the hospitality sector".

Speaking on the occasion, Mr. Khaled Al-Saygeh, Vice Chairman & CEO, Flex Resorts & Real Estate Company said, "Since inception, we had a vision to drive this company ahead and to become the leaders in our industry. Accordingly, we have defined our business strategy, and more importantly we have organized an effective team. What we need now is a professional consulting company to guide us to define a framework and show us the right path for implementation; hence we engaged Advantage. In addition, we are interested in having Corporate Quality (CQ) as we understand that it ensures supreme performance and efficiency in providing our services to clients".

ADVANTAGE is part of the Kuwait delegation that explores economic partnerships in Abu Dhabi .
ADVANTAGE press release, May 19, 2007

A high-level delegation of leading Kuwait business fraternity under the leadership of H.E Mr. Ali Mohammed Thunayan Al-Ghanim, Chairman of Kuwait Chamber of Commerce and Industry, commenced their three-day visit to the Emirate of Abu Dhabi, UAE. The delegate includes Board members of the Kuwait Chamber of Commerce and Industry in addition to many business owners representing companies operating in fields of industry, trade, investments, transport, logistics, services, consulting and real estate. The objective of the visit is to enhance and promote commercial and economic partnership and to provide a chance for the business owners of both delegations to explore investment opportunities. Safa Al Hashem is representing ADVANTAGE Consulting Company, the leading Business Advisory provider in GCC.

“We are extremely delighted to be part of the delegation since our objective is to penetrate the Emirate of Abu Dhabi. Moreover, under the distinctive leadership of the Kuwait Chamber, such opportunities are very easy to materialize," said Ms. Safa Al Hashem, Founder and Managing Director of Advantage Consulting Company (ACC), Kuwait .

Safa continued, “ADVANTAGE has expanded its services and business territories. Based on our great financial results and on our business strategy, we have already penetrated Bahrain , Qatar and Oman . Recently, we have finalized a number of contracts to provide management consultancy for leading businesses in Saudi Arabia as well”.

Ms. Al Hashem strongly emphasized importance to have strong resolutions from the GCC countries to open their markets for Gulf companies without any restrictions. She continued, "The business environment is very conducive in certain member countries. The Recent deal between Wataniya Kuwait and Qtel Qatar is an indication of the prevalence of such cooperation, openness and favorable business environment. However, we need an "open-door" policy to encourage more businesses to expand to member countries".

In conclusion, Al-Hashem said , “as emphasized by H.E Ali Mohammed Thunayan Al-Ghanim, Chairman of Kuwait Chamber of Commerce and Industry, we have total confidence in the private sector businesses, because they have already proved that success is the net effect of efficiency. The Kuwait Chamber of Commerce and Industry efforts remain apparent in this regard as it facilitates businesses in the private sector to venture and prosper both in Kuwait and other GCC markets”.

ADVANTAGE launches Corporate Quality TM , the quality management system that eliminates the improvement paradox.
ADVANTAGE press release, May 19, 2007

ADVANTAGE Consulting Company (ACC), a well known leader in management consultancy, today announced the launch of its new quality management product called Corporate Quality TM . Corporate Quality (CQ) provides a complete, integrated quality management solution designed by Quality Management experts and business processes & methods specialists. The main highlight of the system is that it is indigenously designed and needs less or no customization for the businesses operating in Kuwait .

After launching the product, Ms. Safa Al Hashem, Chairman & Managing Director of ACC, explained that “the Corporate Quality is based on Total Quality Management (TQM) principles and can lead to Corporate Quality Certification after meeting the prerequisites that includes business process reengineering and periodic quality audits”.

“CQ is a management philosophy that seeks to integrate all organizational functions (management, marketing, finance, design, engineering, production, customer service, human resources, IT etc.) to focus on meeting customer needs and organizational objectives.”

“In addition, Corporate Quality emphasis on continuous improvement of the business processes within and eliminates all possible bottle-necks. The objective is to empower the ‘process owners' and ensure fluidity of the workflow,” added Ms. Safa Al Hashem.

When asked to provide more insights into the principles of the CQ, Ms. Safa said, “The guiding principles for any quality management system would be Synergistic Relationships, Continuous Improvement and Self Evaluation, A System of Ongoing Process and Leadership. Corporate Quality System is also designed within this framework.”

“Success of any quality program in a company depends on the degree of support from the top management. Prior implementing CQ, ADVANTAGE will ensure that this support is made available and top management representatives will be involved at every stage,” explained Ms. Al Hashem.

When asked how Corporate Quality is different from ISO, Ms. Al Hashem clarified that, “ISO is a Quality System Management Standard. Corporate Quality (CQ) is a philosophy of perpetual improvement.  The ISO Quality Standard sets in place a system to deploy policy and verifiable objectives. Where there is an ISO system, about 75 percent of the steps are in place for CQ.  The requirements for CQ can be considered ISO plus.”   

“In short, implementing CQ is being proactive concerning quality rather than reactive. Therefore, it is highly recommended to have a quality management system like Corporate Quality TM , for companies who believe that quality has a major role in the positive outcomes,” concluded Ms. Safa Al Hashem.

ADVANTAGE represented in the Arab Economic Forum
ADVANTAGE press release, May 19, 2007

ADVANTAGE Consulting was part of the KIPCO team that attended the Arab Economic Forum held in Beirut during 4th and 5th of May 2007. ADVANTAGE was represented by Ms. Safa Al-Hashem , Chairman and Managing Director.

After the opening session, The Arab Economic Forum organizers presented the Lifetime Achievement Award to H.E. Badr Al Humaidi, Minister of Finance, Kuwait and Mr. Faisal Hamad Al Ayyar, Managing Director & Chief Executive Officer, Kuwait Projects Co. (Holding).

The forum was organized by the Al-Iktissad Wal-Aamal Group and the Central Bank of Lebanon in partnership with the Association of Banks in Lebanon and the International Finance Corporation (IFC).

The forum discussed many relevant issues that included the following:

• Assessing the New Oil Boom: Could it lead to building the future base for the Arab economies?
• Building up the Competitiveness of the Arab Countries in Attracting Foreign Investment.
• An Outlook on Economic Prospects in Lebanon from the Viewpoint of Young Business Leaders
• The Arab Banking Industry: Challenges of Growth and Expansion
• The Real Estate Boom the Arab Region
• Private Equity and its Role in Opening Up New Growth opportunities for Arab Companies

H.E. Bader Mishari Al Humaidhi, Minister for Finance , Kuwait chaired the session on oil and emphasized the need to attract more foreign investments. Mr. Al Humaidhi led the formal delegation from Kuwait .

In a post-meeting session, Ms. Safa Al Hashem underlined the importance of such meetings as they create opportunities to brainstorm on issues that are common for the Arab economic community. “ADVANTAGE being a consulting company for many of the public and private sector companies tries to incorporate the outcomes of such meetings while delivering our advisory services”, concluded Ms. Al Hashem.

ADVANTAGE Proposes Establishment of Performance Excellence Award for Government Institutions
ADVANTAGE press release, May 19, 2007

In a special statement to the press, Ms. Safa Al-Hashem , Chairman & Managing Director, Advantage Consulting, emphasized the significance of the speech delivered by His Highness the Prime Minister Sheikh Nasser Al Mohammad Al Ahmad Al Sabah, at the National Assembly of Kuwait last week, during the oath taking session of the new government members. In his speech H.E Sheikh Nasser Al Mohammad Al Ahmad Al Sabah indicated the importance for establishing a clear road map of governmental performance and the need for a design of general policy for continued performance measurement and improvement.

Ms. Safa Al Hashem stated that, “We, the private sector, are very optimistic with the type of plans presented therein so that the entire integration among governmental, private sectors and National Assembly can be attained. It is a matter of fact that the performance of some of the institutions turned to be agonizingly weak as a result of raising other issues that have no relation with the planning, development or economy or human development; so that we can activate many approved, but not enforced decisions. Therefore, we, as private sector, reiterate once again that we are ready to complement these initiatives with the strategies and methods in relation to concepts or application.”

Safa continued, “As head of a company that is specialized in designing business strategies and performance enhancement methods, Advantage would like to propose one of such solutions to enhance governmental performance through the establishment of “Government Performance Excellence Award”. The idea may be entirely known for all but we confirm that we are ready to design the roadmap for the implementation of such a concept”

Ms. Safa emphasized, “ At present, due to the strong demand from most of the private sector companies for Performance Enhancement, Advantage is continually implementing our unique product called Corporate Quality (CQ) System that ensures and stresses performance enhancement concept. The same methodology would assist in identifying the nominees for the said Award for the governmental institutions as well.”

She clarified, “Main components of the Award model include 5 assessment criteria, namely, leadership, effectiveness of policies and strategies, staff utilization and resource optimization whether human or financial and operational. There are three Key Result Areas, namely, service beneficiaries (clients), staff satisfaction and realization of agreed objectives.

She added: “The main objective is not competition or comparison among ministries, governmental institutions or companies; rather it is to develop and enhance governmental sector performance through adoption and practice of core standards of institutional excellence.”

She affirmed, “The Award's main purpose is that the ministries, governmental institutions or companies would obtain highest rating that could be attained by such entities in the state.”

In course of her emphasis on individual roles in achieving the highest quality and excellence standards, she stated: “leadership is responsible for directing such tasks as we currently observe in some of the regional countries where Advantage is providing our services to state-owned institutions. Leadership is the key to making such tasks successful in various sectors.”

She emphasized: “We intend to provide only the proposal and the mechanism for such an application and the authorities will have the option to accept or reject. We still have good hope that the government would adopt such proposal under leadership and patronage of a sufficiently performing governmental institution such as Kuwait Foundation for Advancement of Sciences or any other institution deemed appropriate for application by the government.

Advantage penetrates the Education sector and enters an agreement with Ajial Education Company. 
ADVANTAGE press release, March 06, 2007

Ms. Safa Al Hashem, Chairman & Managing Director of ADVANTAGE Consulting Company (ACC), a leading management consulting company with its headquarters in Kuwait announced today that it has penetrated the private education sector in Kuwait .

"The private education sector in Kuwait is successful in generating dynamic Kuwaiti graduates every year through highly effective curriculum and state-of-the-art facilities," said Safa Al Hashem.

"From my own experience by employing young graduates in ACC, I am proud to say that the efforts of the private education providers are yielding positive results. As per a recent market research done by ADVANTAGE, American and British School graduates upon completion of their university programs are well prepared to face the challenges of the new generation businesses. The statistics further revealed that the graduates of private schools are more dynamic and have superior skills than their contemporaries from the public education schools," said Al Hashem.

She also added," the endeavor of the private education sector to provide latest technologies and facilities to students is substantial. These facilities along with the professional coaching are assisting such students in their personality development and to have a very positive outlook".

ADVANTAGE was recently assigned by Ajial Education Company to provide management consultancy services. Ajial is committed to provide premium private education in Kuwait . Ajial is an investment outcome of a couple of forward looking private organizations and individuals in Kuwait .

"With the launch and incredible reception of Ajial Bilingual School, Ajial Education Company has charted a new course in private education in Kuwait . Successfully navigating these uncharted waters requires a specialized skill set, one that combines an understanding of the education market, custom-based products, as well as implementation support. ACC's varied and broad experience, and their previous experience in catering to education sector, makes them the ideal Consultancy partner to take Ajial to the next level, to even greater success," said Mr. Madi Al Khamis of Ajial Education Company .

"Our business strategy provides many innovative educational schemes and expansion plans. To translate our vision into reality, we need expertise of ACC to provide us with their full range of advisory services," said Al Khamis.

ICARUS Signs with ADVANTAGE for Full Fledged Consultancy.
5 February 2007 , Kuwait

ICARUS Medical Industries Company (www.icarus.com.kw) announced today that they have engaged ADVANTAGE Consulting Company (www.consulting-advantage.com) for both financial and business advisory services.

Safa Al Hashem, Chairman & Managing Director of ADVANTAGE, said, "We are extremely happy to collaborate with ICARUS, the new entrant in the medical industries sector backed by well-known shareholders. ICARUS is engaged in production of disposable syringes, lancets, specialized medical and veterinary equipment and accessories. Their business is very unique and we hope that our services will help position ICARUS at the top in all markets it operates in".

Khaled Ahmed Al Kulaib, the Vice President and Managing Director of ICARUS explained, "Through a strong network of distributors, we plan to facilitate the distribution of our products and services.” Commenting on the engagement of ADVANTAGE, he said, "ADVANTAGE requires no further introduction in Kuwait . Being a local consultancy firm, they have already proved that they understand the pulse of the local business and would deliver custom-made solutions".

"As a medical services company collaborating with international companies and franchises, we require top-notch management systems including sound business processes implemented in our company. With ADVANTAGE, we are confident that their output will be exceeding our expectations. After engaging such an experienced company to do the job, our senior executives are now dedicating more time to focus on the business", continued Al Kulaib.

"We will be focusing initially on the manufacturing and supply of syringes in Kuwait and GCC countries, besides marketing some unique industry related products. As you may recall, ICARUS entered into a strategic alliance with European Egyptian Pharmaceutical Industries Company, last week", added Khaled Al Kulaib.

Advantage brings in Success Formula to Oman
ADVANTAGE press release, January 21, 2007

Ms. Safa Al Hashem, Founder & Managing Director of ADVANTAGE Consulting Company (ACC), leading management consulting company with its headquarters in Kuwait announced today that it has expanded its management consulting capabilities to Sultanate of Oman. The proposed affiliate company of ADVANTAGE OMAN will focus on the tremendous market growth and assures effective service delivery to both private and government sector companies.

"Continued expansion in an important market such as Oman , strengthens ACC's footprint and provides essential, cost-effective consultancy options for businesses. We have already identified a strategic Omani partner and that would be a great assistance in the market penetration,” said Safa Al Hashem.

"The recent visit of Kuwaiti business fraternity under the leadership of H.E Mr. Ali Mohammed Thunayan Al-Ghanim, Chairman of Kuwait Chamber of Commerce and Industry actually paved the way for our entry. Moreover, the historic visit was beneficial for both parties, the most important results of which were incorporation of a Kuwaiti-Omani investment holding company in which the governments of both countries contribute approximately 40% and the remaining percentage is allocated to the private sector. A Memorandum of Understanding in this regard has been signed," said Safa.

When asked about her impression of the Omani market, Ms. Safa Al Hashem commented, "During our pilot operations in Muscat , I was impressed with the high professionalism and efficiency of Omani private sector companies. We understand that there is a need for an experienced GCC consulting firm to cater to the distinctive needs of the Omani companies".

"Our unique service delivery model that was time-tested in Kuwait , our primary market is based on total customer participation. Unlike other consultancy firms, ACC don't just deliver the deliverables but ensures that the deliverables are properly implemented, said Rajit Nair, Vice President, ACC.

"ACC's services include organization structure design, capability assessment, business feasibility studies and business plan formulation, setting up of corporate governance framework, financial restructuring, business process reengineering, human asset evaluation, review of compensation and benefits, performance management and so forth", explained Rajit Nair.

"Typical consultancy engagements involve quantitative data collection and analysis, most frequently with customers and prospects, and occasionally with other stakeholders. Depending upon the engagement, these may include members of the supply chain or channels, indirect customers, employees, or even investors. Our basic approach involves four phases of work: a qualitative assessment and design phase followed by data gathering, analysis, and recommendation phases," added Safa Al Hashem.

“We do not intend to take work done for one client and repeat it with each of their competitors,” Safa said. “Rather, we intend to continue to have close relationships with our clients based upon trust, integrity, and high quality deliverables that meet their unique needs.”

ADVANTAGE is part of the Kuwait delegation that explores opportunities in Oman. ADVANTAGE press release, December 18, 2006

A high-level delegation of leading Kuwait business fraternity under the leadership of H.E Mr. Ali Mohammed Thunayan Al-Ghanim, Chairman of Kuwait Chamber of Commerce and Industry is currently on a visit to the Sultanate of Oman. The objective of this visit is to explore business opportunities as almost all core businesses in Kuwait are represented in the delegation, the majority being the listed Companies in the Kuwait Stock Exchange. Safa Al Hashem is the only female executive in the visiting delegation.

“This historic visit will pave ways to ensure opportunities are converted into valuable and meaningful business relationships," said Ms. Safa Al Hashem, Founder and Managing Director of Advantage Consulting Company (ACC), Kuwait .

When asked what ACC has to offer the businesses in Sultanate of Oman, Ms. Al Hashem said, "ADVANTAGE being a local consultant with international standards and with rich heritage of management consultancy expertise could add value to the local market. Currently, we enjoy the leading position in our primary geographical area of operations, Kuwait . We have provided services to almost all industries and our clientele includes existing and startup businesses in Kuwait , Qatar and Bahrain ".

"What makes ACC's services so unique is very simple. We ensure that the service delivery is exclusively based on a participative approach. We ensure that at every stage of the project, the client is involved and knowledge transfer is imparted”, added Ms. Al Hashem.

“We stand above the competition in delivering our line of services, because unlike other consultancy firms, we don't just deliver the deliverables, but we ensure that the deliverables and recommendations are properly implemented too. This is achieved through our newly introduced quality management program called the Corporate Quality", continued Ms. Al Hashem.

"ACC undertake total business realignment of the client organization starting from organization structure review, capability assessment, setting up of corporate governance framework, financial restructuring, business process reengineering, human asset evaluation, review of compensation and benefits, performance management and so forth", explained Ms. Al Hashem.

"ACC is not an unknown entity in the Oman market, as three companies, one each in the petrochemical, fuel marketing and food production sectors are being catered currently by ACC," added Al Hashem.

ADVANTAGE releases 2007 Calendar – Pro-Work, an unique Management Tool
press release, November 28, 2006

Kuwait , November 20, 2006 – ADVANTAGE Consulting Company (ACC), today unveiled the Corporate Calendar for 2007, which is based on business management concepts. The Calendar is aptly named as “Pro-Work” is designed in such a way that it introduces 12 time-tested management concepts in the form of statements, in each folio.

Speaking after the release of the Pro-Work, Ms. Fatema Al Roumi , HR Generalist of ACC said, “The powerful statements are ‘tremendous' and provides the essentials for creating successful businesses and successful executives. In fact, the statements actually represent the foundation of modus operandi of the successful private sector companies in Kuwait .”

“In fact, ADVANTAGE strives to impart this philosophy during all interactions with the chief functionaries of the government sector as well. It's time for them to adopt best practices from the successful companies. To achieve such standards, the government sector requires ‘Out of the box' thinking and 360 0 degree change of style in functioning. Otherwise, in the globalization era, such companies who fail to espouse such innovative formulas will definitely be left out”, continued Ms. Al Roumi.

“The decision to nullify Ministry of Planning was not an appropriate decision”, reiterated Al Roumi , confirming the statement previously made by Ms. Safa Al Hashem, Founder, Chairman and Managing Director in that regard.

When asked to spell out more on the concept of Pro-Work, Ms. Al Roumi said, “Pro-Work” is an acronym coined by us and stands for Professional Work. Pro-Work is a process of implementing practices and policies that support employees' work life needs while enhancing the business bottom-line. All our Business Advisory Services are designed based on the ‘Pro-Work” philosophy”.

ADVANTAGE Helps City Centre Consolidate Operations across the Enterprise through Organizational Restructuring
press release, November 28, 2006

Kuwait , November 20, 2006 – ADVANTAGE Consulting Company (ACC), the consulting arm of KIPCO, today announced the successful culmination of the Organizational Restructuring of City Centre, the largest hypermarket and Kuwait 's Premier Mega Market. City Centre is a novel concept of “One Stop Shop” combined with customer care and convenience.

Jasim Y. Al Ghanim, Managing Partner of City Centre said, “Our belief in ADVANTAGE, as a local business advisory service provider, actually paid-off. ACC quickly apprehended our objectives and delivered tailor-made solutions that streamlined our internal communication protocols and systems.

From our association with ADVANTAGE, we have achieved all the prerequisites as a forward looking organization to go ahead to the next stage of getting listed in the Kuwait Stock Exchange”, continued Mr. Al Ghanim.

"City Center is devoted to satisfying customers' needs, by offering them high quality products at an affordable price. ADVANTAGE enabled us to accurately adjust our organization, to better address the specific requirements of a hypermarket”, concluded Mr. Al Ghanim.

Ajay Goel, Chief Operating Officer, City Centre added, “We at City Centre always strive to provide “ Superior Customer Service” & “Excellence in everything we do”. Our ultimate aim is to attain total Customer Satisfaction. The Customer Loyalty is a factor that has to be managed continuously and constantly to ach i eve the healthy growth and to be a successful organization. ADVANTAGE while delivering their services, actually focused on that aspect and that understanding facilitated the successful culmination of this project”.

Safa Al Hashem, Founder, Chairman and Managing Director, ACC noted, "We are very pleased to add one of the largest hypermarket chains to our growing list of clients. We anticipate our service will contribute to achieving measurable internal business processes improvement results for City Centre”.

In conclusion, Ms. Safa said, “On a personal level, I am very loyal customer of City Centre, because of the facilities, offers and of course the customer care they provide”.

KIC Financial Brokerage Company Selects ADVANTAGE as Outsourcing Provider
press release, November 14, 2006

Kuwait, November 08, 2006 – ADVANTAGE Consulting Company (ACC), today announced, KIC Financial Brokerage Company, a subsidiary of Kuwait Investment Company, has selected it to provide outsourcing services for the back office support functions, along with other Management Consultancy services.

As per the agreement, ACC will provide KIC Financial Brokerage Company with a comprehensive package of management solutions, handle back office support functions and implement Corporate Quality TM , ACC's newly released innovative product based on TQM principles.

“The brokerage business represents a significant growth opportunity. To help expand the company's capabilities and allow them to more efficiently meet the needs of their representatives and clients, we needed to provide services that could go beyond the consultancy services and offer them an integrated outsourcing solution across all aspects of their back-office operations,” said Safa Al Hashem, Chairman and Managing Director, ACC.

“Our client base has substantially increased over the year, and with each new relationship we are seeing more interest in services beyond traditional consulting. Firms are increasingly seeking a scale provider that is able to meet multiple needs and deliver best-in-class solutions”, said Al Hashem.

“In fact, according to a recently released study, the outsourcing of support functions has been embraced by many industries as a way to help reduce overall costs and drive business growth”, added Safa Al Hashem.

In conclusion, Ms. Safa said, “we are pleased that a premier financial services firm like KIC Financial Brokerage Company has chosen to engage ACC. “With the significant ongoing investments we are making in our human assets capabilities, as witnessed by our recent addition of professionals into our team, we are well-positioned to provide all our clients with services that would enhance their business over the long-term.”

ADVANTAGE launches Corporate Quality TM , the quality management system that eliminates the improvement paradox.
press release, October 28, 2006

ADVANTAGE Consulting Company (ACC), a well known leader in management consultancy, today announced the launch of its new quality management product called Corporate Quality TM . Corporate Quality (CQ) provides a complete, integrated quality management solution designed by Quality Management experts and business processes & methods specialists. The main highlight of the system is that it is indigenously designed and needs less or no customization for the businesses operating in Kuwait .

After launching the product, Ms. Safa Al Hashem, Chairman & Managing Director of ACC, explained that “the Corporate Quality is based on Total Quality Management (TQM) principles and can lead to Corporate Quality Certification after meeting the prerequisites that includes business process reengineering and periodic quality audits”.

“CQ is a management philosophy that seeks to integrate all organizational functions (management, marketing, finance, design, engineering, production, customer service, human resources, IT etc.) to focus on meeting customer needs and organizational objectives.”

“In addition, Corporate Quality emphasis on continuous improvement of the business processes within and eliminates all possible bottle-necks. The objective is to empower the ‘process owners' and ensure fluidity of the workflow,” added Ms. Safa Al Hashem.

When asked to provide more insights into the principles of the CQ, Ms. Safa said, “The guiding principles for any quality management system would be Synergistic Relationships, Continuous Improvement and Self Evaluation, A System of Ongoing Process and Leadership. Corporate Quality System is also designed within this framework.”

“Success of any quality program in a company depends on the degree of support from the top management. Prior implementing CQ, ADVANTAGE will ensure that this support is made available and top management representatives will be involved at every stage,” explained Ms. Al Hashem.

When asked how Corporate Quality is different from ISO, Ms. Al Hashem clarified that, “ISO is a Quality System Management Standard. Corporate Quality (CQ) is a philosophy of perpetual improvement.  The ISO Quality Standard sets in place a system to deploy policy and verifiable objectives. Where there is an ISO system, about 75 percent of the steps are in place for CQ.  The requirements for CQ can be considered ISO plus.”   

Advantage Consulting Company strengthens Executive Search Team.
Press Release, 02 September 2006

ADVANTAGE Consultancy Company, the Kuwait 's leading consulting firm, today announced that it has strengthened the Executive Search Team to provide professional headhunting service.

In a statement released on behalf of the Company, Fatema Al Roumi , HR Officer, ADVANTAGE said, "our industry focused headhunting service, combined with our Quick Placement Model and our network reach, has all contributed to extremely high levels of customer satisfaction. We believe that by strengthening the team for this unique service will position ADVANTAGE as a valued partner."

"Companies approach us to help them find the right candidate after our consultants restructure these organizations. Most of the times, this becomes necessary as more and more companies opt for qualified Kuwaiti candidates to be positioned in all critical positions ," said Al Roumi.

Fatema Al Roumi also handles the HR functions in ADVANTAGE and she strives to ensure that the best practices are followed.

"As part of the Advantage's HR strategy, we strive to provide the best environment for our consultants and other employees. This include setting up of internal policies and procedures based on global best practices, well defined career path promoting growth, salary structure offering highly competitive compensation and training programs that favors self-development and knowledge acquisition," said Fatema Al Roumi.

Further, Al Roumi emphasized that the Business Advisory Services provided by ADVANTAGE exceeds similar services provided by other consulting firms.

"The success of ADVANTAGE is mainly because of Ms. Safa Al Hashem's leadership and the expert team onboard. The success formula is bonded with strong commitment and professionalism displayed at all levels both internally and externally," concluded Fatema Al Roumi.

For Further details:

Contact Ms. Smitha Noronha, at (+965) 246 3917 or info@consulting-advantage.com

Gulf Takaful and ADVANTAGE working together to enhance Takaful Operations .
ADVANTAGE press release, August 28, 2006

Gulf Takaful Insurance Company (GTIC), leading Takaful Company in Kuwait has engaged ADVANTAGE Consulting Company (ACC) for organization restructuring of their operations in Kuwait .

GTIC's main activity centers on providing Shar'iah compliant insurance services including family, motor, property and general accident insurance, re-insurance products and more.

“Keeping with our primary goal of establishing the best internal systems that offer best services for our customers, our decision was to approach an experienced, local consulting firm”, said Mr. Nasser Sulaiman Al Omar , General Manager, Gulf Takaful Insurance Company.

"Through this engagement with ACC, we anticipate to enhance and streamline our corporate structure, communication protocols, our procedures and policies affecting our employees," added Mr. Al Omar.

Speaking on the occasion, Ms. Safa Al Hashem, Chairman and Managing Director, Advantage Consulting Company explained: "We are proud to be offering our services to yet another Takaful company in Kuwait . As a result of our previous engagement with similar companies in the industry, we have gained extensive domain experience, strong project implementation processes and methodology required to enhance business operations for Takaful companies”.

“We are appropriately placed to assist GTIC in this assignment and see ourselves playing the consultant role effectively,” added Ms. Al Hashem.

ADVANTAGE and National Takaful Insurance Company join hands.
Press Release

Kuwait - August 05, 2006 – ADVANTAGE Consulting Company (ACC), today announced signing with National Takaful Insurance Company, the leading 'Sharia' based insurance company in Kuwait .

National Takaful Insurance Company (NATICO), is established in 2003 and underwrites all classes of business with the applied laws and in compliance with Islamic Sharia provisions.

"We expect ADVANTAGE to help us to enhance and streamline our organization structure, communication protocols, and employee motivation," said Mr. Mansour Salem Al Nassar, Chairman, NATICO.

"ADVANTAGE was successful in providing similar services to leading Islamic institutions in Kuwait . We expect this engagement would help us to become one of the leading takaful companies in the country', said Mr. Talal Sager A. Al Qatami, Managing Director & General Manager, NATICO.

"We work closely with clients by examining their business strategy and existing systems, to design customized management solutions. Our goal is to help clients reduce costs, identify and improve business processes to stay competitive in their particular industry," said Safa Al Hashem, Chairman & Managing Director, ACC .

Kuwait Housing & Real Estate Development Holding Company and ADVANTAGE enter into Management Consulting Partnership.
ADVANTAGE press release, August 10, 2006

Kuwait Housing & Real Estate Development Holding Company, the pioneer company that revolutionized the housing sector in Kuwait by constructing affordable houses that was rented and subsequently owned by expatriates in Kuwait has announced the engagement of ADVANTAGE Consulting Company (ACC) for total organization restructuring of their operations both in Kuwait and in the GCC region.

Speaking on the occasion, Mr. Fayez Ahmed Boodai , Chairman of Kuwait Housing & Real Estate Development Holding Company told the media that the vision of the company is to widen its range of activities and to be in the top ten real estates in the region in the next few years.

“This move is an example of our commitment to provide with the best service for our clients. The Company's initiative was influenced by the huge prospects in the housing sector. The company successfully completed mega housing complexes in prime locations in Kuwait . To maintain the leadership, we need expert consultants to provide professional insights to streamline our processes and systems,” continued Mr. Boodai.

Speaking on the occasion, Ms. Safa Al Hashem, Partner and Managing Director, Advantage Consulting Company explained: "We are proud to engage with an extremely dynamic and vibrant group and we are confident that with our domain expertise we can provide Kuwait Housing & Real Estate Development Company with the best solutions.”

“Meanwhile, ADVANTAGE will be extending our consulting services for the upcoming subsidiaries of Kuwait Housing & Real Estate Development Company in the GCC region as well,” added Ms. Al Hashem.

ADVANTAGE continues to support startups; now it's Al Soor for Fuel Marketing Company.
press release 29 May 2006

Al Soor for Fuel Marketing Company, the second company to take over the fuel stations in Kuwait , as part of the privatization drive, today announced that they have engaged Advantage Consulting Company (ACC), a leading management consultancy services organization to design their entire management systems.

ACC will work to create focused solutions for core functions such as organization development, setting up of internal policies, operating procedures, communication protocols, design of executive compensation and benefits and executive recruitment. The relationship will facilitate Al Soor a solid market entry with top-notch operating standards.

"The Al Soor - ACC relationship will address multiple disciplines including streamlining of all our internal processes," said Nawal Al Twejri, Chairman, Al Soor. "Today's agreement represents the commitment of the Al Soor management to deliver world-class services for our customers."

"The agreement is a significant step by Al Soor as a startup. This alliance will further put into test the capability of ACC's multi-industry expertise and create real value for our clients," said Safa Al Hashem, Partner and Managing Director, ACC.

"ACC has been recognized as one of the top management consultancy providers in Kuwait because of our service delivery capability and industry domain expertise to deliver customer specific solutions that provide strong return on investment," added Safa Al Hashem.

United Networks and Advantage Consulting sign agreement for Consultancy Services.
press release, May 22, 2006

ADVANTAGE Consulting Company (ACC), one of the KIPCO Group of Companies, today announced the signing of its Management Consultancy Services for United Networks (previously known as United Cable Company), the leading solutions and services provider in the communications and media sectors that offers convergent communication solutions that optimize and support real-time delivery channels for voice, video and data.

“To align the company's operational strategy with the management systems, we have decided to engage Advantage Consulting,” said Mr. Mahmoud Al Sanea, Managing Director of United Networks.

“With ACC's expertise and sound track record we are confident that they can guide us seamlessly through the whole process. Once the project objectives are realized, we expect to streamline our processes and thereby provide unmatched customer service,” added Mr. Al Sanea.

Speaking on the occasion, Ms. Safa Al-Hashem , Co-founder and Managing Director of Advantage Consulting expressed her gratitude to United Networks for choosing ACC.

“We are very pleased to provide our services to United Networks, as we always enjoy in providing services to successful and rapidly growing businesses. Moreover, our commitment to high levels of quality, service management and robust management practices, Customers can expect to experience a high degree of certainty in our service delivery,” said Ms. Al Hashem.

“ACC always stays focused on improving quality and processes constantly in an environment of rapid growth,” added Ms. Al Hashem in her closing remarks.

Under the agreement, ACC will provide organization restructuring and other services like designing of policies and procedures for Human Resources and Finance & Accounts, and employee performance enhancement programs along with implementation support.

Safa Al Hashem Receives Entrepreneurial Award from KIPCO.

KUWAIT- ADVANTAGE Consulting Company, Chairman and Managing Director Safa Al Hashem on 05 May 2006 received the 2006 Entrepreneurial Award instituted by KIPCO. The award was presented by the KIPCO, Chief Executive Officer Mr. Faisal Hamad Al Ayyar in recognition of Al Hashem's business success and contributions within the KIPCO fraternity.

The award presentation was during its third annual investor forum “Shafafiyah”. The three-day event was held at Marina Hotel in Salmiya from May 3rd – 5th, 2006 .

KIPCO is a strong advocate of promoting corporate governance in the MENA Region. A prime illustration was the launch of the annual 'Shafafiyah' (transparency) investor forum in 2004. This forum provides KIPCO and its Group Companies a channel to effectively communicate the Group's performance and address investor expectations and concerns. The forum is also the platform through which KIPCO and its Group Companies provide formal guidance on earnings expectations, another first in the region

“The Entrepreneurial Award instituted for the first time goes to a successful individual who developed a business that improved the KIPCO economy or whose innovative management skills have changed the course of an existing business”, said Mr. Al Ayyar in his speech.

"Our aim is to spark the entrepreneurial spirit in our executives by exposing them to the stories of people whose exceptional accomplishments have led to business success. ADVANTAGE is one of those success stories that will have tremendous value to our group companies and clients," said Faisal Al Ayyar.

"This award symbolizes the support that made KIPCO business community a great success and the leading group in the region," said Safa Al Hashem after receiving the award. "I am moved by this honor and in return I assure that I will translate this honor to more success, in the coming years," added Safa Al Hashem.

ADVANTAGE participated in the Third Manpower Exhibition

ADVANTAGE Consulting participated in the Third Manpower Exhibition, organized by Kuwait Manpower Restructuring Program being held at the Sheraton Hotel between 06 May, 2006 and 09 May 2006.

The exhibition was inaugurated by Dr. Massouma Al Mubarak, Minister of Planning and State Minister of Administrative Development Affairs, today (06 May 2006) at 9 am.

Just into few hours of the exhibition, we have registered many educated Kuwaiti youngsters with great potential and caliber.

We kindly invite you all to visit us during any of the exhibition days. The details are furnished below:

Venue: Diamond Hall, Sheraton (mezzanine floor) Exhibition Timings: 9 am to 1.30 pm & 4.30 pm to 9 pm.

Advantage Consulting Chosen by Kuwait Hotels Company to Provide Management Consultancy

Kuwait, - March 20, 2006 – Mr. Fawzi Khalifa Al Musallam , Chief Executive of Kuwait Hotels Company, today announced the engagement of Advantage Consulting Company (ADVANTAGE) to do the organizational restructuring for both its holding and subsidiary companies.

Kuwait Hotels Company is a part of the Kuwait Projects Company (KIPCO) Group. Safir International Resorts and Hotels (Safir) is the flagship brand of the group. The catering segment is handled by Kuwait Catering Company (KCC) and Safat Catering Company (SCC).

Safir manages over 16 hotels and resorts in the Middle East and North Africa . KCC and SCC provide catering services to some of the most prominent entities both in the Public and Private sectors in Kuwait .

The new management team which came together at the Kuwait Hotels Company consequent to its restructuring has taken a number of initiatives aiming for a leadership position for the company in Middle East based hotel chain business.

Under the terms of the Management Consultancy Services agreement, ADVANTAGE would provide services like organization restructuring, operational review, designing of policies and procedures for key departments like Human Resources, Finance & Accounts, operations etc., implementation support and employee performance enhancement services like compensation and benefits revision and executive performance management scheme.

"Through this consultancy engagement we anticipate to enhance and streamline our corporate structure, communication protocols, and employee motivation," said Fawzi Khalifa Al Musallam. "ADVANTAGE has a sound track record of organizational restructuring and we expect to benefit from their expertise. “We expect a win-win situation" he added.

ADVANTAGE is a management and business advisory service provider in Kuwait , with expertise in guiding companies through complex organizational restructuring, financial, operational, and human capital management.

AL ABRAJ and ADVANTAGE enter into Management Consulting Partnership.
press release, April 29, 2006

Kuwait , April 09. Al Abraj Holding Company, the leading services company in Kuwait has announced joining hands with ADVANTAGE Consulting Company to do a total restructure of its organization and to streamline its operations. “This move is an example of our passion to provide with the best service for our clients,” said Mr. Samir Naser Ali Hussain, Vice Chairman and Managing Director of Al Abraj. “The growth of Al Abraj is tremendous and to maintain the leadership in the services sector, we need expert consultants to provide professional insights,” continued Samir Naser.

Speaking on the occasion, Ms. Safa Al Hashem, Partner and Managing Director, Advantage Consulting Company explained: "We are proud to engage with an extremely dynamic and vibrant group and we are confident that with our domain expertise we can provide Al Abraj with the best techniques and practices so that Al Abraj would continue enjoy their incredible accomplishments in the services sector.” “This is mainly due to the flexibility of our services and commitment of our team", she added.

Samir Naser, mentioned: “We are confident that ADVANTAGE is capable of providing us with a robust structure, solid communication protocol along with business processes that would take us through seamless integration between the holding and the subsidiaries".

"This project is extremely important for us, the challenge, besides the short time frame, is to interface with many different successful entities. However, we had handled projects similar to this in the past and we assure Al Abraj that we will be exceeding their expectations while delivering the services”, concluded Safa Al Hashem.

First Investment Company & Advantage Consulting Company sign Management Consultancy Services Contract
ADVANTAGE press release, April 04, 2006

Advantage Consulting Company (ACC), the leading consulting services enterprise and First Investment Company (FIC), an emerging Islamic investment company, signed a management consultancy contract for FIC to provide a complete range of solutions and services. The contract was signed by Mohammad A. Al Alloush, Chairman & Managing Director, First Investment Company and Safa Al Hashem, Chairman & Managing Director, Advantage Consulting Company. The signing ceremony was attended by Khaled Al Sanousi, Chief Executive Officer and Mohammad Al Khandari, Deputy Chief Executive of FIC along with other senior functionaries from both the companies.

ACC will work with FIC on a diverse range of domains. "We are confident that ACC is the partner that can best help us organizational reengineering, streamlining all our internal policies and procedures, internal communication protocols, review of the corporate governance initiatives, our investment strategies and thereby we could add value for our shareholders," said, Chairman & Managing Director, First Investment Company. "This agreement will allow us to expand our market capabilities in an efficient manner."

"Given ACC's experience and expertise in the organizational advisory arena, our domain knowledge in investments and our unmatched pool of talent to provide implementation and support, we are confident of delivering the best of breed solutions to First Investment Company. This association will give us more pride as we are adding more and more Islamic based investment companies to our clientele," said Safa Al Hashem, Chairman & Managing Director, Advantage Consulting Company.

ALAFCO, Aviation Lease And Finance Company signs with ADVANTAGE for Organization Restructuring

Leading Management Consultancy Company provides management services for ALAFCO, the Islamic based Aviation Leasing Company in Kuwait .

Kuwait, - March 10, 2006 – ADVANTAGE Consulting Company, one of the KIPCO Group of Companies, today announced the inauguration of its Management Consultancy Services for ALAFCO, the leading 'Sharia' based aviation leasing company, headquarter in Kuwait.

Under the terms of the Management Consultancy Services agreement, ADVANTAGE provides organization restructuring based on Corporate Governance principles. Other services includes designing of policies and procedures for Human Resources and Finance & Accounts department, implementation support and employee performance enhancement services like compensation and benefits revision and executive performance management scheme.

"Our success since official launch continues," said Safa Al Hashem, Chairman & Managing Director, partner at ADVANTAGE. "We anticipate this list will continue to grow during the coming years," she said. Regarding Corporate Governance, she said, “Like any other country in the world, we are also moving to an equity culture, where quality financial statements become the currency that drives the marketplace and provides the investors with more confidence”.

"Through this consultancy engagement we anticipate to enhance and streamline ALAFCO's organization structure, communication protocols, and employee motivation," said Ahmed Al Zabin, Chairman & Chief Executive Officer, ALAFCO. "ADVANTAGE has a track record of successful implementation of Corporate Governance concept into other Organizations. We expect a win-win situation."