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Balanced Scorecard Collaborative Honors Endesa, Puertos del Estado, and Serono with Prestigious Hall of Fame Award
Madrid, Spain and Lincoln, Massachusetts (ots/PRNewswire) -
- Breakthrough Performance Results Lauded at European Summit
Balanced Scorecard Collaborative, Inc. today announced it has named Endesa, Puertos del Estado, and Serono to the Balanced Scorecard Hall of Fame for Executing Strategy(TM) for achieving breakthrough performance results using the Balanced Scorecard (BSC). The awards were presented today to officers of each organization at the Balanced Scorecard European Summit held this week in Madrid. "Today's winners have achieved breakthrough performance results using the Balanced Scorecard and are truly Strategy-Focused Organizations," said Balanced Scorecard Collaborative president Dr. David P. Norton. "We are delighted to join them in celebrating their success."
Hall of Fame Honorees
Endesa is one of the largest European electric utilities and is the market leader in Spain and in several South American countries. Founded in 1944 as a government-owned power generation company, it was privatized in 1998. Today, Endesa serves more than 22 million electric and gas customers worldwide, employs over 27,000 people, and has revenues of 18 billion euros. Since adopting the BSC in 2001, Endesa's stock price has soared 55% -- well beyond that of all of its Spanish and most of its European peers. Net profit, productivity, and quality of service have also improved. According to CEO Rafael Miranda, "The Balanced Scorecard has helped us to share a common view about the strategy, becoming the most important tool for communicating and executing it. Four years into its implementation, our BSC is the backbone of ENDESA's planning process, providing the vital link between strategy, strategic objectives, major initiatives, compensation system, and the budget. The BSC helps every executive to know his or her expected contribution to the company's strategic execution."
Puertos del Estado
Puertos del Estado is the public entity responsible for the strategic coordination of the Spanish port system. The Spanish port system is represented by 27 port authorities that manage the 50 commercial ports of general interest. With 5,200 employees, Spanish ports in 2004 moved 410 million tons of cargo and earned 776 million euros in income. The BSC was implemented to drive common key performance indicators for all port authorities. "More than three years after BSC implementation, success has been achieved," announces Don Mariano Navas, president. "The results in every key indicator are clear: 15% revenue increase, 13% in cargo growth, and 11% in efficiency improvement, coupled with the world's best standards. But we must not forget the BSC's less visible face: a new management model focused on strategy, more people committed to management, team work, accountability, and communication, a port community aligned with the port strategy, and key performance information available to enhance the decision-making process."
Serono International S.A. is a global biotechnology leader with over 4,900 employees and worldwide revenues of USD $2.46 billion, up 21.8% in 2004, and a net income of USD $494 million, up 26.7% in 2004. The company operates in 44 countries, with sales in over 90 countries. Serono adopted the BSC in 1997. Since then it has achieved phenomenal results, says Roland Baumann, senior executive vice president, head of corporate administration, and member of the executive management board.
"Our BSC is a key management tool that is linked to compensation, planning, and budgeting and ensures that everyone in our 44 regional offices across all our functions is aligned towards the same objectives and goals. The strong support of our CEO and Executive Management Board allows us to continue improving our BSC program year after year. Over the last six years, our company has seen annual double digit growth in total revenues and net income."
A Steuben crystal rising star, designed by Robert Cassetti, was presented to officers from each organization. Today's winners join 55 other member organizations of the BSC Hall of Fame.
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 and has been cited by Harvard Business Review as one of the most important ideas of the past seventy-five years. 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 reliably.
About Balanced Scorecard Collaborative
Balanced Scorecard Collaborative, Inc. (BSCol), a Palladium company, is a global family of professional service firms that help clients use the Balanced Scorecard to successfully execute strategy. To learn more, visit http://www.bscol.com
Web site: http://www.bscol.com
ots Originaltext: Balanced Scorecard Collaborative, Inc.
Im Internet recherchierbar: http://www.presseportal.ch
Robert L. Howie, Jr. of Balanced Scorecard Collaborative, Inc.,