Balanced Scorecard hall of fame is awarded to businesses that have shown extraordinary performance in implementing business management solutions. Specifically, companies that have shown increasing efficiency of business operations and significant improvement of corporate financials because of balanced scorecard implementation are included in the prestigious hall of fame. A hall of fame award not only gives prestige but also highlight the excellence of awardees in delivering products and services.
Awardees of balanced scorecard hall of fame came from different industries and business sectors. These companies belong to the elite group of balanced scorecard practitioners and have shown competence in applying balanced scorecard to key performance areas. These key areas include customer knowledge, internal business process improvement, business learning and growth, and good financial performance. Companies that excel in these key performance areas usually posts significant growth rates and are rewarded with the highest distinction as balanced scorecard competent entities.
The hall of fame was designed to showcase the effectiveness of balanced scorecard methods in delivering significant positive results for companies. Balanced scorecard hall of fame is awarded not only to private business enterprise but also to government institutions, and organizations. This innovative management method allows managers and executives to measure the performance of every individual unit. Performance is measured based on the overall goals and strategy of the company or organization. Tasks are centered on company strategy and each individual or unit can monitor their work through a checklist of key performance index. This management approach gives companies the necessary leverage to efficiently implement plans and projects that ensure forward growth.