Doha: Palladium Group announced Qatar Steel as one of the winners of the 2012 Balanced Scorecard Hall of Fame during their Annual Global Summit in Boston, the US recently. The induction ceremony recognising leading organisations from North America, the Middle East, and Asia featured 12 organisations including Qatar Steel that have achieved dramatic performance outcomes through their strategy execution expertise. Palladium Group Inc is the global leader in strategy execution consulting and serves a broad range of private and public sector clients in North America, Europe, the Middle East, Africa, Asia and Australia.
Qatar Steel is one of the leading companies in manufacturing and supplying steel predominantly in the Arabian Gulf, and it is wholly owned by Industries Qatar (IQ).
The Hall of Fame award honours organisations that have achieved excellence in execution through the use of the Balanced Scorecard (BSC), the world’s preeminent strategy execution management system. The BSC framework was first publicised 20 years ago by co-creators Dr Robert Kaplan and Dr David Norton, also the co-founders of Palladium Group. Past honorees constitute a roster of 167 organisations from over 20 countries around the world. The winners are selected from an applicant pool based on the quality of their BSC implementation and the results they achieve over a period of at least two years.
Each year the inductees are profiled in a report published by Harvard Business Publishing.
Ali Bin Hassan Al Muraikhi (pictured), Director and General Manager of Qatar Steel said: “It is a long journey since we first introduced Balanced Scorecard in 2003; hard work and commitment of all our employees have culminated in receiving this prestigious award as strategy execution is everybody’s job. We are happy to be the first company in Qatar and also to be the first company in the steel industry in the region to be inducted into Palladium HoF. Our sound management practices stand testimony to our ability to adapt to dynamic market conditions and in running the business efficiently; BSC methodology is one such powerful management tool that is working well for us in Qatar Steel.
The Peninsula
