Gulf public sector’s applications of balanced scorecard concept are “world-class”, says co-creator Norton
Bahrain’s Ministry of Works and Dubai Electricity and Water Authority are inducted into the Balanced Scorecard Hall of Fame
The public sector in the Gulf, particularly in Bahrain, is leading the way in the application of strategic concepts and management techniques, according to Dr David P Norton, co-founder of the Balanced Scorecard.
Dr Norton, who will speak live and in person in Bahrain on November 26 in an event organised by Global Leaders, explained that the Balanced Scorecard concept is better suited to government organisations as it forces them to articulate their vision, mission and strategy.
He said: “To date, the difficulty with government organisations and NGOs has always been defining a measurement of success. Once you can do that, the whole approach to strategy execution is pretty similar to using the Balanced Scorecard in private sector companies.
“Government organisations have been highly successful in the Balanced Scorecard approach. Two of our latest Hall of Fame members come from the Gulf, and from government or the public sector: Ministry of Works in Bahrain and Dubai Electricity and Water Authority.
“The Ministry of Works is a world-class application: the organisation is committed to investing in the future of itself and the country by building on the best management techniques they can find. Their programme is as good as anything we have seen.”
His Excellency Fahmi Al Jowder, Minister of Works and Minister in charge of Electricity and Water, has lent his patronage to the event with David Norton, to be held at the Bahrain International Circuit.
The Balanced Scorecard concept (BSC) was selected by the editors of the Harvard Business Review as one of the most influential management ideas of the past 75 years. Dr Norton was voted on as one of the world’s 12 most influential management thinkers by Sun Top Media’s “Thinkers 50” in 2007.
This is the latest in a series of thought leader events in Bahrain from Global Leaders, following on from Edward de Bono, Deepak Chopra and Ken Blanchard.
Dr David P Norton will present The Balanced Scorecard: Executing Strategy for Competitive Advantage, live and in person at the Bahrain International Circuit on November 26, 2008. For more details of the event, go to www.globalleadersevents.com/norton. Confirmed partners for the event to date include: Bahrain Institute of Banking & Finance (BIBF), Bahrain Society for Training & Development (BSTD), Young Arab Leaders – Bahrain Chapter, Bahrain Tribune, Al Ayam, and knowledge network.
TEXT BOX : DAVID NORTON ON STRATEGY
Strategy is like a pot-pourri of issues, ranging from customer intimacy, speed to market, product development and so on. If you can’t describe your strategy, you can’t manage it.
• 60 per cent of organisations don’t tie their budget to strategy.
• 95 per cent of employees in an organisation don’t know what the strategy is.
• 70 per cent don’t tie incentives and compensations to strategy.
• When the management team meet monthly, 85 per cent of them spend an hour or less talking about strategy.
DATE & VENUE
Dr David P Norton:
The Balanced Scorecard: Executing Strategy for Competitive Advantage November 26, 2008
Bahrain International Circuit, Manama, Kingdom of Bahrain
