Bahrain’s Ministry of Works and Dubai Electricity and Water Authority (Dewa) have been inducted into the 'Balanced Scorecard Hall of Fame.

Established in 2000, the Balanced Scorecard Hall of Fame recognises those organizations that have used the Balanced Scorecard to successfully execute their strategies and create exceptional value for their stakeholders.

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.

The Balanced Scorecard concept is better suited to government organisations as it forces them to articulate their vision, mission and strategy, said Dr David P Norton, co-founder of the Balanced Scorecard.

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. 

He pointed out that the public sector in the Gulf, particularly in Bahrain, was leading the way in the application of strategic concepts and management techniques.

“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 Dewa,' he noted.

“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.”

Dr Norton will present 'The Balanced Scorecard: Executing Strategy for Competitive Advantage,' live and in person at the Bahrain International Circuit on November 26.

Fahmi Al Jowder, Bahrain minister of works and minister in charge of Electricity and Water, has lent his patronage to the event, which is being organised by Global Leaders.

This is the latest in a series of thought-leader events in Bahrain from Global Leaders, which earlier had Edward de Bono, Deepak Chopra and Ken Blanchard as key speakers.-TradeArabia News Service