Dongwha Enterprise
Industry: Manufacturing
Inducted: 2009
Regions: apac
Country: South Korea
Announcement Excerpt:

Dongwha Enterprises is South Korea’s leading forest products company, servicing the commercial and residential construction markets. It adopted the Balanced Scorecard to help forge a new vision, execute a strategy of operational excellence, and foster organizational alignment down to the individual employee level. An Office of Strategy Management—a key organizational function conceived by Drs. Kaplan and Norton—was established to coordinate the cross-functional business processes required for success. In the two years since adopting the BSC, Dongwha's revenues grew almost 25%, its operating profit more than 300%, and customer satisfaction 16%. Process innovation, factory utilization, and internal knowledge sharing also improved significantly. “I am confident that the BSC is and will remain the most important management methodology and tool for Dongwha,” said CEO Kim Jong-Su. “The BSC performance management system is a critical factor in achieving company targets.”