Iloilo City now Asia-Pacific’s leader of business excellence
The Iloilo City Government led by Mayor Jerry Treñas has been officially inducted to the 2009 Palladium Balanced Scorecard (BSC) Hall of Fame as one of the four leaders of business excellence during the Palladium Group’s Asia-Pacific (APAC) Summit in Jakarta, Indonesia October 5.
Treñas received the city’s global recognition during the Hall of Fame award presentation ceremony in honor for the metropolis’s breakthrough business performance results.
Iloilo City is a major center of arts, culture, and sports making it one of the “Best Place to Live in the Philippines” as identified in a survey by MoneySense Magazine.
Using the BSC to help improve public accountability and promote responsible citizenship and economic and social development, the city partnered since 2005 with the Institute for Solidarity in Asia (ISA), an advocacy organization for good governance.
“Since its adoption, citizen satisfaction has risen 15 percent, manufacturing capitalization has expanded fourfold, and National Achievement Test results in the city’s public schools are up 20 percent,” the Palladium Group said in a statement.
“The BSC has enabled us to clearly communicate strategy and align our workforce through a common language and shared objectives, measures, targets, and initiatives,” Treñas stressed.
“The process has helped make our city vibrant, well-governed, and prosperous, establishing a roadmap for Iloilo to achieve even more as a Premier City by 2015,” said Treñas
Lauded as business leaders along with Iloilo City are Dongwha Enterprises as South Korea’s leading forest products company; Kiwibank, the consumer banking subsidiary of New Zealand Post Group as New Zealand’s fastest-growing financial institution; and Korean Customs Service (KCS) which has more effectively allocate human and financial resources and drive organizational performance.
The Hall of Fame award honors organizations that have achieved business excellence through the use of the BSC, the world’s preeminent performance management system.
The BSC is based on the simple premise that “what gets measured is what gets done.” Created by Palladium Group co-founders Drs. Robert S. Kaplan and David P. Norton, the BSC is also a performance management philosophy and system that links strategy to operations.
The BSC continues to receive recognition as a strategic management tool that leads to improved shareholder returns. Harvard Business Review ranked the BSC among one of the most important business concepts in decades and Kaplan and Norton among the top management thinkers.
This year, the pair’s seminal The Balanced Scorecard: Translating Strategy into Action (Harvard Business Press, 1996) was cited as one of the 100 best business books of all time in the 2009 book of the same name.
Founded in 2000, the BSC Hall of Fame program has a roster of 128 honorees that span the private and public sectors throughout more than 20 countries, including Hilton Hotels, Infosys Technologies, Motorola, Ricoh Corporation, and the Singapore Ministry of Manpower. Winners are selected based on the quality of their BSC implementation and the results they demonstrate over a period of at least two years. (PIO)