Dr David P Norton, the co-creator of the world-renowned Balanced Scorecard concept, will address a Global Leaders event in Bahrain for the first time, on November 26.

Fahmi Al Jowder, Minister of Works and Minister in charge of Electricity and Water, has lent his patronage to the event, and these ministries have already implemented Balanced Scorecard strategies under his leadership, alongside a number of other leading Bahraini organisations, said the organisers.

The Balanced Scorecard concept was selected by the editors of the Harvard Business Review as one of the most influential management ideas of the past 75 years. Dr Norton was voted on as one of the world’s 12 most influential management thinkers by Sun Top Media’s “Thinkers 50” for 2007, said a statement.

"For Bahrain’s business leaders and organisations, one of the biggest challenges is not the management of the company, but the creation of value in the organisation and the execution of its strategies," Dr Norton said.

"The ability to execute strategy is far more important that the strategy itself. Organisations work hard to create their business strategy, which requires a major investment in time and money."

"But the odds are currently stacked up against any company successfully executing its strategies – and the odds of success are estimated at between just 10 and 30 per cent. That’s a heavy price of failure, considering the investment we have all put in creating the strategy in the first place."

This is the latest in a series of thought leader events in Bahrain from Global Leaders, following on from Edward de Bono, Deepak Chopra and Ken Blanchard.

"Effective strategy execution requires optimisation and implementation of many processes, both strategic and operational," said Tina Schneidermann, president of Global Leaders.

"Most companies are unable to integrate the strategy and operations activities completely, severely impeding effective and efficient execution. The Balanced Scorecard, and other concepts that will be demonstrated by Dr Norton, provide this invaluable link to enable companies to truly succeed."

Dr David P Norton will present The Balanced Scorecard: Executing Strategy for Competitive Advantage, at the Bahrain International Circuit on November 26, 2008.-TradeArabia News Service