Blue Ridge Electric Membership Corporation was recently recognized as one of only 12 organization in the world to win the Palladium Group’s Balanced Scorecard Hall of Fame award for achieving breakthrough results based on strategy execution expertise.
The prestigious award was presented during Palladium Group’s Annual Global Summit taking place in Boston earlier in October.
“I’m very proud of this award because it represents the heart and soul every employee puts into producing value for our members through their commitment to provide outstanding service through innovation, relentless attention to improvement, and personal touch service that only a local, member-owned cooperative can provide,” said Doug Johnson, chief executive officer of Blue Ridge Electric. “It is truly an honor to be among the top organizations in the world for effective management and strategy execution that benefits the members we serve.”
The Hall of Fame award honors organizations that have achieved excellence in execution through the use of the Balanced Scorecard (BSC), the world’s preeminent strategy execution management system. The BSC framework was first publicized twenty years ago by co‐creators Drs. Robert Kaplan and David Norton, also the co‐founders of Palladium Group. This management framework is as effective for government and not‐for‐profit organizations as it is for corporations. Past honorees constitute a roster of 167 organizations including: Cisco Systems, Merck, Infosys Technologies, the FBI, Volkswagen do Brazil, and the Boys and Girls Clubs of Puerto Rico. Winners include organizations from over 20 countries around the world. The winners are selected from an applicant pool based on the quality of their BSC implementation and the results they achieve over a period of at least two years.
Each year the inductees are profiled in a report published by Harvard Business Publishing.
Blue Ridge Electric has effectively utilized the BSC since 1998. As a result the cooperative has achieved breakthrough results in several areas of member value. The cooperative has made execution of strategy the key to successfully achieving transformative visionary strategies for the future to benefit member-owners of the cooperative. For example, Blue Ridge Electric has used the process to achieve significant improvements in service reliability, member satisfaction, safety and cost management.