Managerial ’Vision’ Ranks Top In UAE Business Leader Agenda
Business organizations in the United Arab Emirates (UAE) believe that implementing progressive management strategies in the post financial crisis era are the main factor to bring continued growth and hedge against business risk. A recent ’Business Management Survey’ conducted by IIR Middle East in the UAE revealed that 53 percent of respondents sited ’a strong vision’ as management’s top priority required to consolidate a company’s direction.
“Post crisis, it makes sense for corporations to look to their business leaders for visionary direction to lead businesses back into growth and expansion mode,” Dr Robert Kaplan, renowned management guru and professor at Harvard Business School. “Being a regional business hub with a highly developed infrastructure and a multitude of global businesses in operation, UAE companies have a good foundation to rebound back and lead their re-gion. Visionary leaders are therefore essential to understand the past and rebuild the fu-ture.”
The survey further revealed that following a strong vision, a defined management struc-ture was essential to manage growth. Subsequently, setting proper key performance in-dicators (KPIs) and positive employee communication followed respectively on business people’s wish-lists.
These issues coupled with a focus on Office of Strategy Management (OSM) will be dis-cussed and debated at the Balanced Scorecard Forum in Dubai. The OSM is an approach that organizations could take to help close the gap between strategy development and execution. Implementing the right OSM brings together people responsible for formulat-ing strategy with those responsible for executing.
“Many organizations throughout the world have already established an Office of Strategy Management,” says Dr David Norton, Director and Founder, Palladium Group Inc. “In practice, the OSM has become an essential ingredient for any organization that wants to ensure the survivability of its strategy management system,” he added.
Dr Norton, along with Dr Robert Kaplan, Harvard Business Professor, Harvard Business School and Co-Founder of The Balanced Scorecard in the USA, is set to discuss the Bal-anced Scorecard (BSC) enablers while focusing on core competencies and capabilities for effective strategy management. He will discuss these issues with decision makers from the private and public sectors.
The event will take place in Dubai between March 26th and 31st, 2011 at the Hyatt Re-gency Hotel. The interactive sessions will cover live ’risk assessment’ meetings, a ‘Let’s Talk Strategy’ discussion and award winning regional public and private sector case stud-ies.
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