Re-coup

The institution on last Wed & Thursday organized a workshop with aims to prepare a 5-year plan/strategy to re-coup expenses i.e. to ensure break-even position in a specified time. The 1 ½ day workshop, which is related to the last AAC meeting on financial sustainability, was held in Telok Dalam Resort in Pangkor Island.

In the effort to position itself as a leading institution to serve the petroleum industry in this region, the management has strived for Research University status started off with the Transformation Plan back in 2009. Since last year, we have engaged in the execution of the Transformation Plan and everyone seems to be motivated in achieving the RU status. Simultaneously, the management has also been asked to reduce or recoup its expenses as the current increase in revenue was not parallel as compared to the increase in the cost. Eventually, we were asked to secure a breakeven point in a specified period (of which most of the participants view this situation as a slow but surely departing process with the parent company)

As usual, the workshop schedule was very hectic that on the first day we ended up at about 11PM. Nevertheless, we surreptitiously took our time to play beach volleyball and flying some kites (under the good initiative by En Md Akhir).

I do not wish to describe the output from the workshop cos’ for me it’s a decision that need to be made by the management. All I can say that every situations require in-depth study and analysis (kinda chicken and egg situation) before we can bring down the strategies to became an initiative/action plan.

See follows some nice pic taken from iP4..

 

P/s- Selamat menyambut Ramadhan Al-Mubarak. Semoga dengan kedatangan Ramadhan yang mulia akan membawa seribu rahmat kepada kita semua. Oh ya..selamat hari lahir Fadil Ariff :-)