36 representatives of 17 companies of Severstal-group’s steel-making, raw-materials and automotive divisions took part in the workshop.

Several reports were given on strategic planning and controlling in the Group. The Balanced Score Card approach in each company as well as its application at Severstal and Cherepovets Steel Rolling Plant were covered.

A. Nemtinov, the Balanced Score Card project manager, introduced the workshop’s participants to Severstal’s experience with the BSC. Severstal was first in the Severstal Group to incorporate the BSC, followed by Cherepovets Steel Rolling Plant. This approach to strategic planning will be later rolled out for the Group.

Participants took part in the round table discussion on methods of writing BSCs for main aspects of a company’s business in the mid term (5 years). Two other workshops covered training and development of strategic planning managers.

Participants also discussed standards of strategic planning and key problems in designing a company’s strategic business plan. They were introduced to the organization and main lines of activity of Severstal Corporate University.

According to Vadim Makhov, deputy director of Severstal-group on strategy and controlling, this seminar allowed to paint a picture of the strategic planning in the Severstal Group, find key problems in that area, come up with their solutions, as well as to establish common approaches to strategic business plan design.

Vadim Makhov said that working together on strategic planning would allow to cut time for writing BSC, develop and carry out strategic initiatives in the group, make companies work more effectively, and reach desired results.

28 Febrary 2003