stc Group announced the implementation of the new operating model in its business, which includes a change in the group's structure, which contributes to achieving stc’s “DARE” strategy goals. The group expects that this development will contribute to raising the business to the next level and exploring new horizons in line with its position and national role, to achieve its leadership vision in the digital and communications field to enable the society and economy to prosper in the Kingdom and the region. stc is one of the fastest growing operators in the world. This comes as a result of the continued growth in the telecommunications sector and the expansion of digital fields through the group and its subsidiaries.
In this regard, the Group CEO, Eng. Olayan bin Mohammed Al Wetaid, said, “Looking towards the future, our “DARE” strategy is a promising and ambitious strategy that motivates us to achieve accelerated growth in terms of size and scope of work, thus consolidating stc’s position as a leading national group and a regional digital enabler. Also, we will achieve, with God willing, this promise to support the Board of Directors and the efforts of all stc’s associates and its subsidiaries.” He added, “These ambitions call for updating our operating model, including developing our organizational structure, governance, processes and corporate culture to drive this growth forward and continue to meet the expectations of our customers and our shareholders.
It is worth noting that the new operating model aims to enable the group to focus on growth and expansion in the markets. The new operating model for stc group will focus on the business units and functional units that support the group. The business units will lead the process of creating value and growth through the size and scope of the business, across various sectors in the Kingdom and abroad, furthermore the customer unit will be responsible for the fixed mobile and digital services market for individual customers and small and medium companies in the Kingdom, while the business unit will be responsible for the communications and information technology market for companies and government sectors by providing direct innovative digital services and strategic partnerships at the regional and global levels. The wholesales business unit works to provide innovative solutions and services that depend on infrastructure and carrier services, so that the Kingdom will be the connectivity hub and host in the region, as stc group will be the ideal partner for local and international telecommunications companies and leading technology companies, enabling them to provide high quality services. The New Markets Unit which is the forth unit will lead and direct the international subsidiaries, sister companies and related subsidiaries to drive growth to serve the group's ambition.
The role of the group’s functional units is to direct the group’s strategy and performance, setting new standards for doing business, creating aspects of cooperation and integration between the group’s companies, and supporting investment ambitions in various sectors, which will help ensure operational excellence in all aspects of stc,’s system as a group and provide a capacity model for development and opportunities to explore new markets.
Source: Press Release