FIRST PHILIPPINE HOLDINGS IS A CORPORATION THAT IS CONSTANTLY IN ACTION. WE’RE ALWAYS TRYING TO FIND WAYS TO DELIVER FOR OUR STAKEHOLDERS AND THE FILIPINO PEOPLE.
First Philec Solar Corporation (FPSC) was inducted into the Palladium Balanced Scorecard (BSC) Hall of Fame for Executing Strategy®. It was one of seven organizations in the Asia Pacific regionawarded during the 2010 Palladium APAC Summit last September 22-23 at the Sofitel Philippine Plaza. FPSC now holds the distinction of being the first private company in the Philippines to receive this recognition.
First Philippine Holdings Corporation (First Holdings) Chairman Federico R. Lopez and FPSC President Dr. Dan C. Lachica accepted the award from Dr. David Norton, founder and director of Palladium Group, and Mr. Matthew Tice, Managing Director of Palladium Group Asia Pacific.
FPSC is the first and only large-scale silicon wafer slicing company in the Philippines. At the start of its operations in October 24, 2007, it adopted the BSC to ensure focus and alignment in meeting target growth projections and gaining market share against Chinese and Japanese competitors. Scorecards were cascaded to the individual employee level. In two years, the company delivered their first commercial wafers ahead of schedule, increased revenue 19% against business plan, became profitable in its first full year of operation, increased its customer base, and beat their employee satisfaction target by 27%.
“We implemented the Kaplan-Norton approach to map, execute and measure our strategy,” Lachica said. “The FPSC story is one for the record books— we are probably one of the first organizations to adopt the BSC at inception, radically improving the way we do things and helping us in record time to become a global leader in the solar industry.”
The Palladium Group launched the “Palladium Balanced Scorecard Hall of Fame for Executing Strategy” program 10 years ago to publicly recognize high-performing organizations that use the Kaplan-Norton strategy management system based on the BSC to become strategy-focused, execute their strategies, and achieve breakthrough performance results. The award is recognized worldwide as the gold standard of strategic performance management. To date, 133 organizations from a wide variety of industries and geographies have been inducted into the Hall of Fame since 2000.
<>FPSC is a joint venture between First Philippine Electric Corp. (First Philec) and SunPower Philippines Manufacturing. First Philec is the manufacturing arm of First Holdings. Its main product is micro-thin wafers used in solar energy panels. At full build, FPSC will be the biggest of its kind in Southeast Asia. This joint venture is consistent with the Lopez Group’s strategy to look for technologies and establish manufacturing capabilities in the renewable energy field.
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