He was speaking to Arab New on the sidelines of the forum inaugurated by Deputy Labor Minister Abdul Wahed Al-Humaid. The globally renowned Balanced Scorecard (BSC), founded by Robert Kaplan of Harvard Business School, was attended by 44 Saudi private and public sector organizations, 33 percent increase over last year's attendance.
Ted Mercer, director of BPS Resolver in Canada, said his company's recent partnership with CLCI offers clients a unique value proposition of integrating strategy with enterprise risk management and balanced score carding.
“This year's increased interest in the Balanced Scorecard strategic performance management methodology is a testament to the great leaps being made in the Kingdom,” said Kaplan. “The Saudi government made a strategic decision to diversify its economy to better complement its vast reserves of oil and gas by strengthening management performance indicator for both its private and public institutions.”
In attendance were major private sector companies such as Riyad Bank and Microsoft as well as government organizations including King Saud University, Saudi Electricity Company and the Ministry of Transport amongst many others.
“Microsoft’s involvement in the Balanced Scorecard Forum is to highlight the power of software and the difference it can make to gaining insights and optimizing return on investments,” said Wayne Meyer, Information Worker Business Group Lead at Microsoft Arabia. “This is our second year at the Balanced Scorecard event and it continues to grow from strength to strength. The representation from diverse business sectors indicates that customers are taking a far closer look at how they perform, operate and manage success business.”
The rising government interest in the BSC Forum had raised a few eyebrows, but according to Sami Al-Zakri, chairman of Addima Consulting, the government sector needs to seriously look at the Balanced Scorecard system to be able to better manage tighter budgets and stricter project delivery timelines.
“Government project in the Kingdom today are under heightened scrutiny and pressure to be delivered on time and on budget. The ambitious infrastructure projects being rolled out by the government, aimed at bolstering economic activity and paving the way for future business development, need a holistic management infrastructure to implement and monitor progress,” commented Al-Zakri.
“For the private sector, which is in recovery mode after a difficult business slowdown over the past few years, I see a growing thirst for strategic planning that will hold traction in good times and in bad. Having had a solid BSC program in place, companies could easily see which elements of their business need to be restructured, or disposed of completely. This visibility is key to successful recovery,” he stressed .