NEW ORLEANS, and LINCOLN, Mass., Oct. 8 /PRNewswire/ -- Balanced Scorecard
Collaborative, Inc. today announced it has named BMW Financial Services, Crown
Castle International, and Tennessee Valley Authority to the Balanced Scorecard
Hall of Fame for achieving significant performance results as Strategy-Focused
Organizations. The awards were presented today to officers of each
organization at the Balanced Scorecard North American Summit being held this
week in New Orleans.
Balanced Scorecard Collaborative President Dr. David P. Norton said, "We
created the Hall of Fame to publicly acknowledge the hard work and remarkable
results of implementing the Balanced Scorecard to create the Strategy-Focused
Organization. The Balanced Scorecard Hall of Fame pays tribute to the success
that each organization has attained."
Hall of Fame winners celebrated today met the award criteria with
breakthrough performance largely as a result of applying the five principles
of a Strategy-Focused Organization. The five principles are: Mobilize change
through executive leadership; translate the strategy to operational terms;
align the organization to the strategy; motivate to make strategy everyone's
job; and govern to make strategy a continual process.
Other selection criteria are: Implementing the Balanced Scorecard (BSC) as
defined by the Kaplan/Norton methodology; presenting the case at a public
conference; achieving media recognition for the scorecard implementation;
producing significant financial or market share gains or accomplishing mission
objectives; and a senior executive's testimonial linking the organization's
results with its Balanced Scorecard. Today's honorees were personally
selected by Balanced Scorecard creators Drs. Robert S. Kaplan and David P.
Hall of Fame Honorees
BSC Hall of Fame winners each achieved success meaningful for the
organization's particular sector or industry, relative to specific, individual
business, or performance objectives.
BMW Financial Services
Established in 1992, BMW Financial Services NA, LLC supports the North and
South American sales and marketing efforts of the BMW Group. With more than
$15 billion in managed assets, BMW Financial Services finances over half of
the new BMW vehicles sold in the U.S. BMW Financial Services adopted the
Balanced Scorecard in 1998. They have seen the number of customer accounts
accelerate from 175,000 in 1998 to more than 450,000 in 2002, while also
supporting the growth in annual BMW sales from 132,000 to 232,000 vehicles
over the same period. This has also been achieved against improved levels of
productivity and high levels of customer and dealer satisfaction as recognized
by the industry benchmark surveys of J.D.Power. Navigating with the BSC has
enabled BMW Financial Services to steer its performance in a world class
"The Balanced Scorecard links our objectives, initiatives, and metrics to
our strategy while communicating our priorities to every member of our
company," notes John Christman, CEO Americas Region, BMW Financial Services.
"Today our BSC program includes linkages to our project approval process,
budgeting methodology, compensation system, technology initiatives, training
programs, and even our community involvement and charitable contribution
efforts. Our results have been excellent with an uninterrupted history of
growth and a successful strategy implementation that continues today,
consistent with the first plans established over six years ago. Profits are
up, return on assets is up, and assets have grown each year."
Crown Castle International
Crown Castle International is the world's leading independent owner and
operator of shared wireless communications and broadcast infrastructure.
Crown Castle engineers, deploys, owns and operates technologically advanced
shared wireless infrastructure, including extensive networks of towers and
rooftops as well as analog and digital radio and television broadcast
transmission systems. With a network of more than 15,000 broadcast and
wireless transmission sites, Crown Castle offers near-universal analogue
broadcast coverage in the UK and significant wireless communications coverage
to 68 of the top 100 United States markets, to more than 95% of the UK
population, and to more than 92% of the Australian population. Pursuing a new
strategy of operational excellence, Crown Castle adopted the Balanced
Scorecard to enhance strategy execution across its distributed workforce. The
results have come through loud and clear. Crown Castle's stock price has
beaten market indexes and is up over 400% in the past 12 months. Free cash
flow, a critical measure for Crown Castle, is now approaching $100 million
annually and working capital has been reduced by approximately $100 million in
the last year. Thanks to the BSC, Crown Castle's operating entities now enjoy
increased, clear line-of-sight between their individual country contributions
and the corporate strategy.
John Kelly, President and CEO of Crown Castle notes, "The Balanced
Scorecard management system has been catalytic to a disciplined approach at
Crown Castle of proactively managing the business to better execute our
strategy. The combination of identifying critical operating objectives, then
establishing and tracking specific measures for each objective, has translated
strategy into action at CCI. The Balanced Scorecard reinforces the importance
of focused effort, and was an integral part of Crown Castle's execution of its
operational excellence strategy with exceptional results."
Tennessee Valley Authority
TVA is the nation's largest public power provider. Established by Congress
in 1933 to provide navigation, flood control, and agricultural and industrial
development, and to promote the use of electric power in the Tennessee Valley
region, TVA employs more than 13,000 people. TVA sells wholesale power to 158
public power systems, which supply electricity to 8.3 million people in the
Tennessee Valley region. Additionally, TVA supplies power directly to 62
industries and federal facilities. Along with affordable, reliable power, TVA
delivers value to the regional economy by supporting a thriving river system
and promoting economic growth. TVA has the lowest three-year operating costs
among 51 U.S. nuclear power generators, and recently achieved 99.999 percent
reliability for its transmission system - an organization record.
Facing a future of increased competition, TVA began its Balanced Scorecard
program in 2000 to help put forth a "Winning Performance." According to TVA
Chairman Glenn L. McCullough, Jr., "TVA's Winning Performance Balanced
Scorecard allows the men and women of TVA to establish priorities; measure and
report performance in key areas; understand how individual activities are tied
to company priorities; and link individual compensation to company-wide
results. The Balanced Scorecard provides measures that are understood and
appreciated by all levels of the organization. It is also the way to
recognize our accomplishments as we set new goals for future successes."
A stunning Steuben crystal rising star, designed by Robert Cassetti, was
presented to officers from each organization at the Balanced Scorecard North
American Summit 2003: Achieve Sustainable Results in Turbulent Times.
Today's winners join thirty other Hall of Fame organizations, including:
Hilton Hotels, Saatchi & Saatchi, UPS, U.S. Army, Wells Fargo, and Wendy's
About the Balanced Scorecard
The Balanced Scorecard (BSC) concept-created by Drs. Robert S. Kaplan and
David P. Norton in 1992-has been implemented in thousands of corporations,
organizations, and government agencies worldwide. Based on the simple premise
that "measurement motivates," the BSC puts strategy at the center of the
management process, allowing organizations to implement strategies rapidly and
About Balanced Scorecard Collaborative
Led by Balanced Scorecard creators Drs. Robert S. Kaplan and David P.
Norton, Balanced Scorecard Collaborative, Inc. (BSCol) is a new kind of
professional services firm dedicated to the worldwide awareness, use,
enhancement, and integrity of the Balanced Scorecard as a value-added
management process. To learn more about the BSC or BSCol, join the growing
worldwide Balanced Scorecard community at http://www.bscol.com
For more information:
Robert L. Howie, Jr.
Balanced Scorecard Collaborative, Inc.
SOURCE Balanced Scorecard Collaborative, Inc.