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| Delegates at the ‘Balanced Scorecard’ forum |
The ‘Balanced Scorecard’ concept is a tool for executing strategic management systems, helping companies understand their risk management criteria and work on their strategy maps for a productive result.
It helps companies adopt a better organised structure with a greater focus on developing people within the organisation.
The event was formally opened by the Qapco Corporate Excellence Department with a presentation on ‘Qapco Strategy Management through Balanced Scorecard’ where Qapco shared its experiences over five years of the ‘Balanced Scorecard’ implementation and application.
The introduction also highlighted how Qapco is using ‘Balanced Scorecard’ as a management tool, performance measurement tool and initiatives tool.
This was followed by two presentations delivered by external strategy specialists.
A representative from Palladium Middle East spoke about ‘Strategy Execution Practice by Manufacturing Companies’ which was followed by another presentation entitled ‘Linking Performance to Pay’ from Vision and Strategy Management Consulting. This subject provoked many questions and discussions from attendees.
Qapco Human Resources and Learning Manager Nasser al-Hajri stated: “It is vital that companies have a structured goal and develop a plan for their business growth. By adopting the Balanced Scorecard strategy, we hope to increase our effectiveness, set goals, and achieve targets with accurate measurements”.