BARCELONA, Spain (June 14, 2006)-Luxfer Gas Cylinders was named to the prestigious Balanced Scorecard Hall of Fame for Executing Strategy in ceremonies here today.
Luxfer was one of only three companies to receive the 2006 global award, given by the Balanced Scorecard Collaborative. The Balanced Scorecard (BSC) concept was created by Dr. Robert S. Kaplan and Dr. David P. Norton in 1992 and featured in their best-selling Harvard Business School Press book, The Strategy Focused Organization (2001).
The BSC approach has been implemented in thousands of corporations, government agencies and organizations around the world and has been cited by Harvard Business Review as one of the most important ideas of the past 75 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. In 2000, Drs. Kaplan and Norton launched the Hall of Fame program to honor publicly companies successfully using the BSC.
Presenting the awards was BSC co-founder Dr. Norton, who said: "Today's winners have achieved breakthrough performance results using the Balanced Scorecard and are truly strategy-focused organizations."
Luxfer Gas Cylinders President John Rhodes accepted the award on behalf of his organization. "It is indeed a great honor for our company," he said. "Many people within Luxfer Gas Cylinders have worked long and hard on our strategic development over the past 10 years-and in particular with the BSC over the past five years. This award is for them. It is all too easy in business today to get hung up on the short-term and run a company by micro-managing the present. We have studiously avoided falling into this trap. Whilst current performance is important, it counts for absolutely nothing unless it is rigidly allied to a clear strategic view of the future, and this award supports our determination to link the present with our future. Because of top-level persistence, our strategy is now absolutely integral to our management thinking. Consistent concentration on our global strategy has not only made us stronger, more competitive and more successful, but also more responsive to our customers' needs."
Luxfer Gas Cylinders is a major division of the Luxfer Group, a manufacturing company founded in 1898. Established in the U.K. in 1958 and in the U.S. in 1972, Luxfer Gas Cylinders has become the world leader in the development, production and supply of seamless, extruded aluminum and composite high-pressure cylinders for the storage of gases. The company serves a variety of markets, including medical, life support for firefighters, alternative-fuel vehicles, beverage, industrial and specialty gas, automotive, scuba diving and paintball sports. The Luxfer service organization specializes in cylinder refurbishment and requalification. (For more information, visit www.luxfercylinders.com.)
Also admitted to the Hall of Fame for 2006 were Metro de Madrid, the leading public transportation system in Spain, and the CaliFor Group, a financial group offering life savings, pension plans and insurance.
Balanced Scorecard Collaborative is a division of Palladium Group, Inc., which specializes in client services related to strategy management, key decision management, resource management, human capital and data strategy and architecture (visit www.palladiumES.com).