Palladium Group Announces 2012 Hall of Fame Inductees

BOSTON, Oct. 17, 2012 /PRNewswire/ -- On October 16, 2012 Palladium Group announced the winners of the 2012 Balanced Scorecard Hall of Fame.  The induction ceremony—recognizing leading organizations from North America, the Middle East, and Asia—featured twelve organizations that have achieved dramatic performance outcomes through their strategy execution expertise.

The prestigious award honored breakthrough business results during Palladium Group's Annual Global Summit taking place in Boston on October 17-18, 2012. 

The Hall of Fame award honors organizations 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 publicized twenty years ago by co-creators Drs. Robert Kaplan and David Norton, also the co-founders of Palladium Group.  This management framework is as effective for government and not-for-profit organizations as it is for corporations.  Past honorees constitute a roster of 167 organizations including: Cisco Systems, Merck, Infosys Technologies, the FBI, Volkswagen do Brazil, and the Boys and Girls Clubs of Puerto Rico.  Winners include organizations 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.

This year—2012—the winners include:

Abu Dhabi Police (GHQ)—Since 1957, the police force of Abu Dhabi has grown to nearly 34,000 and provides policing services to 3 million people in the Emirates, one of the most ethnically diverse communities in the world.  It has applied the concept of community policing, which relies on the principle of partnership and consulting with the community it serves.  ADP has created "the most operationally effective police force possible in one of the safest countries in the world."

Blue Ridge Electric Membership Corporation—Blue Ridge Electric, a member-owned not-for-profit, provides service in North Carolina.  Since launching its Balanced Scorecard program in 1998 the cooperative has achieved breakthrough results in several areas of member value.  One important objective is to be rated the top electric service provider in the nation.  The cooperative has successfully driven customer satisfaction scores from 84% to 88% and, by the end of 2010, attained the top score in the nation compared to peer organizations.

Cablevision Mexico—Responding to increasing competition in the telecommunications industry, Cablevision Mexico implemented a Balanced Scorecard program in 2008 to ensure its future success by improving capacity and infrastructure to deliver high-quality video, voice and broadband services.  During the early years they achieved internal synergy, gained workforce commitment, and established a new culture of performance.  Hard benefits followed, including significant improvements in customer satisfaction (including a strong emotional link and a differentiated customer experience) and breakthrough financial performance (EBITDA and sales).

Catholic Charities Archdiocese of Boston, Inc.—The social services arm of the Archdiocese of Boston works to improve the lives of the poor.  In 2008 CCAB implemented a Balanced Scorecard program in response to declining donations.  Employees now focus on activities that are most impactful on the lives of their customers.  By 2012 they moved from a budget deficit to a surplus, the number of people receiving food grew by 34%, and they are perceived by parents as one of the best daycare providers in the area. 

Comision Nacional Bancaria y de Valores (CNVB)—This agency of the Mexican government oversees and regulates the Mexican financial system.  Its strategy is based on three pillars: fostering competition while maintaining stability, financial inclusion, and consolidating operations to be more responsive by strengthening the institution.  Since becoming a strategy-focused organization the CNVB has helped Mexico's economy remain stable in spite of the global recession, there is a positive trend in credit activity, and financial savings are growing across the country.

Executive Ship Management Pte. Ltd.—ESM manages over 150 ships with a staff of over 6,000. By relying on a single nationality for staffing—a strategy unique in the industry—it mitigates risk due to language and cultural factors.  It has its own maritime training institute to ensure knowledge acquisition, and adherence to stringent safety and quality standards.  ESM's revenue has doubled in the past three years and its reputation is growing.  It is recognized as the best ship management company by several authorities.

Emirates Integrated Telecommunications Company—This company, known as "du," incorporated in 2005, is an integrated telecommunications service provider across the UAE region. Since its inception du has relied on its Balanced Scorecard to manage strategy.  Recently du shifted its strategy to focus on profitable growth by improving the customer experience.  It has experienced a compounded annual growth rate of 55% in five years of operation and recently reached the impressive milestone of five million mobile customers.  Du is growing in a highly competitive market.

Dubai Government—Executive Council—Dubai is witnessing an unprecedented pace of development.  Behind the scenes, the Dubai government has been instrumental in orchestrating many of these achievements.  In 2007 the Executive Council launched the Dubai Strategy Execution System to execute the Dubai Strategic Plan 2015.  The Dubai government has established a platform for ensuring good governance and sustainable development.  The Dubai Government SES provides a powerful example of how a government can achieve optimal strategic alignment across governmental entities.

Qatar Steel—During a period of rapid growth at the national and regional levels Qatar Steel felt the need to re-evaluate its growth & management strategies.  It was at that moment when Qatar Steel introduced the BSC and developed the first Strategy Map in 2003.  Part of its challenge was to introduce realistic targets that were data-based and not intuitive in nature.  Over the past ten years Qatar Steel has developed a robust strategy management system that continues to deliver breakthrough performance. 

Incheon International Airport Corporation—Based in Seoul South Korea, IIAC opened for business in 2001. Its value system is based on its mission of contributing to air transportation, and the national economy, and specializing in efficient construction and airport operations.  Its integrated approach to strategy management is instrumental in helping realize the vision of being "A global airport that leads the global aviation industry."  Based on its current seven year run as the best-rated airport in the world, it has achieved its vision.

S-OIL Corporation—Based in the Republic of South Korea, S-OIL is a major oil and energy company.  In 2008, S-OIL adopted the Balanced Scorecard to achieve its mission of sustainable profitable growth.  The company has dramatically enhanced its competitiveness and profitability.  S-OIL has performed exceptionally well, posting strong financial results, including the largest operating profit in the organization's history, in 2011 (in 2011 it achieved its largest operating profit ever), is constructing a second major production facility, has generated seven million accident-free man-hours, and has achieved its largest-ever retail market share. 

Jeollabuk-do Provincial Government—This government is located in southwestern South Korea.  It implemented the Balanced Scorecard in 2006 during a period of economic stress.  Due to weak industrial structure, the income level of residents was low; the population had been decreasing since 1966; and economic self-reliance ranked close to the lowest level in the nation.  By 2007 a positive atmosphere began to emerge among the public officials.  Later, significant benefits appeared: population growth turned around; its ability to attract new businesses has grown significantly; and the rate of increase in Gross Regional Domestic Product (GRDP) exceeds the national average. 

SOURCE Palladium Group, Inc.