Chrysler Group Named to the Balanced Scorecard Hall of Fame

AUBURN HILLS, Mich., Oct. 13, 2004 -- Chrysler Group has been named today to the Balanced Scorecard Hall of Fame(TM) at the Balanced Scorecard North American Summit in San Diego, California. "Today's winners have achieved breakthrough performance results using the Balanced Scorecard and are truly strategy-focused organizations," said Balanced Scorecard Collaborative President Dr. David P. Norton. "We are delighted to join them in celebrating their success."

Faced with significant challenges, Chrysler Group introduced the Balanced Scorecard in March 2001 to describe the strategic goals and key performance measures for the company. The focus and discipline of this methodology has become a cultural foundation of the Chrysler Group's transformation. The Balanced Scorecard ensures that departmental goals, as well as the goals of individual employees, are aligned to the overall company targets.

"The Balanced Scorecard provided the organization with a clear roadmap of where we needed to go, as well as the methodology to measure our progress in reaching the aggressive targets we've set," said Dieter Zetsche, President and CEO of the Chrysler Group. "Simply put, the Balanced Scorecard got our management team on the same page, and has played an important role in our success thus far."

The Balanced Scorecard (BSC) concept -- created by Drs. Robert S. Kaplan and David P. Norton in 1992 -- has been implemented in thousands of corporations, organizations, and government agencies worldwide and has been cited by Harvard Business Review as one of the most important ideas of the past seventy-five 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.

Balanced Scorecard Hall of Fame is a trademark of Balanced Scorecard Collaborative, Inc.