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The award was presented to UCSD at an awards ceremony held recently in Washington, D.C. by the Balanced Scorecard Collaborative, a professional services firm that created the Balanced Scorecard management approach in 1993. The Balanced Scorecard concept, which has been implemented in thousands of corporations, organizations, and government agencies worldwide, puts strategy at the center of the management process, allowing organizations to implement strategies rapidly and reliably. Other Hall of Fame honorees were Fulton County, Georgia and the United States Army.
“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,” said Balanced Scorecard Collaborative President Dr. David Norton. “The Balanced Scorecard Hall of Fame pays tribute to the success that each organization has attained.”
UCSD, which has been recognized numerous times for its innovative, efficient, and streamlined business practices, was the first university in the nation to adopt a Balanced Scorecard approach. Under the direction of Steve Relyea, UCSD’s vice chancellor of business affairs, the university has saved more than $6 million to date by implementing the Balanced Scorecard system.
According to Relyea, UCSD’s Balanced Scorecard program inspired the university’s housing department to save $300K annually by buying carpeting directly from the mill, effectively reducing the cost of student housing. Utilizing the Balanced Scorecard approach, UCSD has also developed a storehouse-buying website offering frequently purchased goods and services to the UCSD community at value prices.
“The Balanced Scorecard process provides UCSD with a roadmap which indicates where it should focus its energies, priorities, and resources in providing administrative services for UCSD,” said Relyea. “During difficult budgetary times, this approach is indispensable. While some may have viewed an approach such as the Balanced Scorecard as optional in the past, many will find it a key to survival in this era of shrinking funds.”
Developed in 1993 by Harvard Business School professor Robert Kaplan and Renaissance Solutions Inc. President David Norton, the Balanced Scorecard defines business success as balancing four factors: employee motivation and morale, effective processes, customer satisfaction and financial management. At UCSD, this approach has fostered a culture that encourages risk taking, initiative, accountability, outcomes, collaboration and service.
For more information on the Balanced
Scorecard Collaborative visit www.bscol.com
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