BSC Approach Yields Positive Results
In the current economic climate it is vital for companies in the GCC region to not only understand how to manage risk, but to also strategically implement plans so that growth can take place.
High profiled businessmen, CEOs and managers will descend on Dubai Marina for the forum, in order to engage, inform and educate each other on practices of BSC. The popular management tool, used in many companies around the globe, deals with focus and alignment and helps organizations achieve these goals through quick response, adaptation and the immediate execution of decision.
“We used BSC over the past three years and we have had a steady profitable growth, despite the turbulent times regionally and globally,” said Constantin Salameh, Abdulla Al Masaood & Sons (AMS) CEO.
Utilizing the popular Balanced Scorecard approach, AMS believes that the methodology equips the group to better handle risk. Salameh said if a company goes off-track on key areas, the BSC is able to track the reasons and would be able to highlight areas of business risk by red flagging the areas of concern.
“One of the main benefits of the BSC approach is that it highlights the key areas and the key performance measures related to the main business processes for the group,” he added.
Scheduled to deliver his presentation at the forum, Mazen Dauleh, strategy consultant for the State Audit Bureau, Qatar, will discuss the beneficial effects of implementing BSC in Government organizations. Using his client as an example, Dauleh, will argue how BSC implementation will enable the State Audit Bureau to audit more than 120 government ministries and entities for strategy execution, hence enabling the State of Qatar to ensure that its National Development Strategy gets actually implemented.
“BSC is a necessary tool for Government organizations, just like it has been for commercial companies; because it is a way for them to improve performance and deliver on their strategies. BSC started in 1993 as a performance measurement tool. Today in 2012, it remains to be the best corporate performance management tool around,” said Dauleh.
About Balanced Scorecard Forum:
Featuring the iconic inventors of the Balanced Scorecard, Dr Robert Kaplan and Dr David Nor-ton, and their famous Masterclass, the Balanced Scorecard Forum 2012 is a unique opportunity for the region’s leaders and strategy/performance practitioners to get a comprehensive update on the latest essential tools for successful strategy execution. Running at The Address Hotel, Dubai Marina on 21-26 April 2012, this year’s event features the famous two day Kaplan Norton Masterclass, an exceptional line-up of leading strategy practitioners, brand new strategy guru Jeroen de Flander and six new hands-on strategy and risk management workshops. For the full line-up, go to www.iirme.com/