Balanced Scorecard Collaborative Honors Hilton Hotels, Verizon and Duke University Children's Hospital With Prestigious Hall of Fame Award.Business/Technology Editors LINCOLN, Mass.--(BUSINESS WIRE)--Sept. 27, 2000 Exemplary Results of the Strategy-Focused Organization Lauded at North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Summit Balanced Scorecard Balanced Scorecard A performance metric used in strategic management to identify and improve various internal functions and their resulting external outcomes. The balanced scorecard attempts to measure and provide feedback to organizations in order to assist in implementing Collaborative, Inc. today announced it has named Hilton Hotels Corporation Hilton Hotels Corporation (NYSE: HLT) is one of the leading global hospitality companies. As of April 2007 there are 2,645 hotels and 485,000 rooms employing 105,000 people in more than 80 countries. , Verizon Communications
Verizon Communications, Inc. and Duke University Children's Hospital A children's hospital is a hospital which offers its services exclusively to children. The number of children's hospitals proliferated in the 20th century, as pediatric medical and surgical specialties separated from internal medicine and adult surgical specialties. to its distinguished, newly established Hall of Fame for achieving dramatic success by adopting the five principles of the Strategy-Focused Organization. The awards were presented to senior executives of each organization at Balanced Scorecard Collaborative's North American Summit in the inaugural ceremony held today in New Orleans New Orleans (ôr`lēənz –lənz, ôrlēnz`), city (2006 pop. 187,525), coextensive with Orleans parish, SE La., between the Mississippi River and Lake Pontchartrain, 107 mi (172 km) by water from the river mouth; founded . Balanced Scorecard Collaborative president Dr. David 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." Selection Criteria Hall of Fame winners celebrated today met the award criteria with breakthrough performance largely as a result of applying one or more of the five principles of a Strategy-Focused Organization. The five principles are: translate the strategy to operational terms; align the organization to the strategy; make strategy everyone's job; make strategy a continual process; and mobilize change through executive leadership. Other selection criteria were: implement the Balanced Scorecard as defined by the Kaplan/Norton methodology; present the case at a public conference; achieve media recognition for the scorecard implementation; produce significant financial or market share gains; and demonstrate measurable achievement of customer objectives. Today's honorees were personally selected by Balanced Scorecard creators Dr. Robert Kaplan There are several notable individuals named Robert Kaplan, among them:
According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Dr. Jon Meliones, Chief Medical Director at Duke Children's Hospital who spearheaded the effort at Duke, "As an academic institution, we were interested in a solution that could function as a teaching and learning tool and report how we were doing. The Balanced Scorecard provides that monitoring and conscience and assists us in improving our practice patterns. We look at the scorecard as the evolving brain of our organization. In practicing smarter, we dramatically reduced our cost per patient case and patient length-of-stay, and significantly increased our customer satisfaction. Our results at Duke Children's prove the Balanced Scorecard approach can be the catalyst for positive change in healthcare. We're honored that the Collaborative has chosen us for inclusion in the Balanced Scorecard Hall of Fame" Ezra Singer, Acting Executive Vice President of Human Resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. for Verizon Communications, the national communications company Communications Company is a communications unit of the United States Marine Corps. They are part of Combat Logistics Regiment 37 , 3rd Marine Logistics Group (3MLG) and III Marine Expeditionary Force (III MEF). The unit is based out of the Marine Corps Base Camp Smedley D. formed by the merger of Bell Atlantic and GTE GTE General Telephone & Electronics GTE Génie Thermique et Énergie (French) GTE Gas Turbine Engine GTE Global Tropospheric Experiment GTE Geothermal Energy GTE Gas Turbine Efficiency plc (Sweden & USA) , said, "The Balanced Scorecard proved its value to GTE time and again. It enabled Human Resources to diagnose workforce issues and to prescribe solutions that directly impacted the company's bottom line. As a result, HR transformed itself from a support organization to an active contributor to the corporation's success. That's why we're making the Balanced Scorecard a key tool in our new company, Verizon. On behalf of GTE and Verizon, we are pleased and proud to be recognized through induction into the Hall of Fame." "What gets measured and managed gets delivered," says Dieter Huckestein, President of Hilton Hotels
Hall of Fame Honorees Hall of Fame winners each achieved success meaningful for the organization's particular industry, relative to specific, individual business objectives. Duke Children's Hospital effected a major profitability turnaround while maintaining patient service and retaining medical staff. The hospital implemented the Balanced Scorecard with the goal to align the hospital's strategy with their resource management. Today, the hospital has successfully created 10 Balanced Scorecards, reduced the cost per patient case by 33% and patient length of stay by 31%, increased the net margin by $15 million, and been recognized for the highest rating in customer satisfaction of 28 institutions. Two years ago, GTE's Human Resources department faced an aggressive growth campaign to successfully hire, manage, and retain employees during a period of low industry unemployment. The company implemented the Balanced Scorecard to analyze turnover statistics, calculate the financial impact, prescribe solutions and track improvement trends. The results were stunning. GTE saved more than $23 million by reducing employee turnover in targeted critical workforce centers and successfully demonstrated that effective HR policies enhance the bottom line. Hilton Hotels turned to the Balanced Scorecard to create a systematic business approach to drive consistently high levels of service across all of its hotels. Today, guest satisfaction is a 6.25 on a 7-point scale and customer loyalty is up 6 percentage points to 56%. The Balanced Scorecard continues to enable Hilton to cascade its strategy down to its 80,000 employees to encourage consistent operational excellence. The Award A stunning Steuben crystal rising star, designed by Robert Cassetti, was presented to senior executives from each winning organization at the Balanced Scorecard Collaborative North American Summit: Driving Breakthrough Performance in the New Economy. Today's winners in the inaugural presentation join other Hall of Fame companies including: CIGNA CIGNA CG (Connecticut General Life Insurance Company) INA (Insurance Company of North America) Property & Casualty, Mobil, UPS, and Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. Online Financial Services. About Balanced Scorecard Collaborative Balanced Scorecard Collaborative, Inc. (BSCol) is a professional services firm that facilitates the worldwide awareness, use, enhancement, and integrity of the Balanced Scorecard as a value-added management process. Founded and led by the creators of the Balanced Scorecard concept, Drs. Robert Kaplan and David Norton, BSCol provides a global center of Balanced Scorecard excellence through consulting, conferences, training, publishing, research, certification, and online services. For more information, please call us at 781.259.3737, or visit us on the web where you can join Balanced Scorecard Online(TM) free for the latest insight and resources at http://www.bscol.com About the Balanced Scorecard The Balanced Scorecard (BSC (Binary Synchronous Communications) See bisync. ) is a framework for creating Strategy-Focused Organizations. The BSC helps to describe, implement, and manage strategy at all levels of an enterprise by linking objectives, initiatives, and measures to an organization's strategy. The scorecard provides an enterprise view of an organization's overall performance by integrating financial measures with other key performance indicators Key Performance Indicators (KPI) are financial and non-financial metrics used to quantify objectives to reflect strategic performance of an organization. KPIs are used in Business Intelligence to assess the present state of the business and to prescribe a course of action. around customer perspectives, internal business processes, and organizational growth, learning, and innovation. Since the concept was introduced by Drs. Robert Kaplan and David Norton in 1992, BSCs have been implemented at corporate, business unit, shared services shared services, n.pl the administrative, clinical, or other service functions that are common to two or more hospitals or their health care facilities and used jointly or cooperatively by them. , team, and individual levels at hundreds of private and public sector organizations worldwide. The BSC has been the subject of four articles in Harvard Business Review Harvard Business Review is a general management magazine published since 1922 by Harvard Business School Publishing, owned by the Harvard Business School. A monthly research-based magazine written for business practitioners, it claims a high ranking business readership and , more than 150 articles in business publications, two best-selling business books (now in 18 languages), numerous Harvard Business School Harvard Business School, officially named the Harvard Business School: George F. Baker Foundation, and also known as HBS, is one of the graduate schools of Harvard University. case studies, and public conferences around the world. All company and product names are trademarks of their respective owners. |
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