Saudi Companies Keen to Adopt BSC Strategy
A survey, conducted among decision makers from key Saudi Arabian companies at the Balanced Scorecard (BSC) Forum in Dubai, in April 2010, revealed that 50 percent of companies in the Kingdom of Saudi Arabia (KSA) are incorporating the BSC strategy in their management structure. However, nearly 80 percent of respondents were of the opinion that the BSC strategy should address sustainable management strategies for the region.
Though a fairly new concept in KSA, the BSC strategy is being regarded as a structured method to business growth. Addressing this need, Dr. Robert Kaplan the renowned business strategy guru is set to present his BSC strategy to organisations in the region.
“The Balanced Scorecard is a global strategy that works across industries and re-gions. In the Middle East, we have witnessed many governments adopting the BSC strategy to build their own management strategy process,” added Dr. Kaplan, founder of the Balanced Scorecard and presenter of the MasterClass at the second Balanced Scorecard Forum, Saudi Arabia.
The Balanced Scorecard strategy aids companies in setting more robust measure-ments that go beyond financials, and successfully execute their management strategies. The strategy provides organisations with better insight into creating value for their shareholders.
“Our strategy helps companies understand what is being implemented in the short term, in order to create future value. This is not just for employees but the overall organisation and its shareholders,” emphasizes Kaplan.
The second Balanced Scorecard Forum, Saudi Arabia will take place from 11 – 15 December, 2010 in Riyadh, KSA. The event will witness participation from over 120 delegates. The Forum, this year, will have more thought-provoking sessions on risk management, customer management and workshops on how to establish key performance indicators (KPIs).
There will be more emphasis on case studies from leading organisations from across the region and success reports on companies that have achieved business excellence through the BSC strategy. An interactive session has been lined up with a panel of expert speakers, who will provide practical tips on implementation of the BSC strategy.
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