The Roads and Transport Authority (RTA) in Dubai was awarded the Hall of Fame 2013 Award organised by the Palladium Group for its strategic execution of the Balanced Scorecard that has played a key role in uplifting the overall performance of RTA's employees.
The Award winners were announced with the Global Strategy Summit 2013 in Boston, USA in the presence of large numbers of public and private sector organizations from all over the world, national news agency WAM reported.
Abdul Mohsen Ibrahim Younes, CEO of Strategy and Corporate Governance Sector, reaffirmed RTA's solid commitment and constant endeavor to develop the comprehensive performance, harnessing the world's best practices, which will unquestionably upgrade RTA's diversified services provided to the public from all social segments including the public transport commuters and users of other RTA's broad selection of services.
He said: "The reason why high-ranking organizations set in implementing a Balanced Scorecard Strategy is because they intend to increase focus on strategy and results, improve organizational performance by measuring what matters, align organization strategy with the work people do on a day-to-day basis, and concentrate on the drivers of future performance."
Attending the conference on behalf of RTA was Rashid Al Shaikh, Corporate Planning Manager of the Strategy and Corporate Governance Sector who expressed his profound pleasure over this international corporate achievement attributing it to the tireless efforts of all teams involved in strategy success. The RTA used the balance scorecard to monitor strategy and execution.
What is the Balanced Scorecard?
According to the description on the Balanced Scorecard Institute, the balanced scorecard is a strategic planning and management systemthat is used extensively in business and industry, government, and nonprofit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals. It was originated by Dr Robert Kaplan (Harvard Business School) and Dr David Norton as a performance measurement framework that added strategic non-financial performance measures to traditional financial metrics to give managers and executives a more 'balanced' view of organizational performance.
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