The world of today is witnessing a change in all lines of business which created a real need to distinguish beween doing fine performers, good berformers, and best performers, here where comes our role in this website as we want to share our experience with you, and we need you to do that too, in order to compete in this world where the word competition turned to be CO-OPETITION, so let us unite our efforts to serve each others objectives and turn all to be BEST BERFORMERS and create some extra ordinary berformers among us, when this happen we will all succeed, cause when Dubai moves forward we will all get the benifit of that.

Moh'd Wahadneh

A new approach to strategic management was developed in the early 1990's by Drs. Robert Kaplan (Harvard Business School) and David Norton. They named this system the 'balanced scorecard'. Recognizing some of the weaknesses and vagueness of previous management approaches, the balanced scorecard approach provides a clear prescription as to what companies should measure in order to 'balance' the financial perspective.

The balanced scorecard is a management system (not only a measurement system) that enables organizations to clarify their vision and strategy and translate them into action. It provides feedback around both the internal business processes and external outcomes in order to continuously improve strategic performance and results. When fully deployed, the balanced scorecard transforms strategic planning from an academic exercise into the nerve center of an enterprise.

Kaplan and Norton describe the innovation of the balanced scorecard as follows:

"The balanced scorecard retains traditional financial measures. But financial measures tell the story of past events, an adequate story for industrial age companies for which investments in long-term capabilities and customer relationships were not critical for success. These financial measures are inadequate, however, for guiding and evaluating the journey that information age companies must make to create future value through investment in customers, suppliers, employees, processes, technology, and innovation."

The balanced scorecard suggests that we view the organization from four perspectives, and to develop metrics, collect data and analyze it relative to each of these perspectives:

- The Learning and Growth Perspective

- The Business Process Perspective

- The Customer Perspective

- The Financial Perspective

So many managers believe that they are performing well according to their financial results, becareful from that indicator Mr.Manager, most of the time lost opportunities do not appear as loses or decreases in the profits, so you just need more views to your organization, where opportuinities shall be identified by a hawk, planned by an ant, Executed by an army decesive Leader.

Time is money, that is right, so take more time in Planning to avoid any mistake in the fast implementation you shall do in the world of competition.

Remember you can't change the wheels of a car or fuel up while the car is moving so check the wheels and fuel of your organization before you move, then you can use the power to the maximum, try to think whom are the wheels and the fuel and above all the motor in your organization?, and for sure whom shall be the accessories that as a hint shall be outsourced.