Home / Knowledge / News / Textiles / LMW bags Prestigious Palladium Balanced Scorecard Award
LMW bags Prestigious Palladium Balanced Scorecard Award
27
Sep '08
Lakshmi Machine Works Limited one the world's leading textile equipment manufacturer with sales of $504 million and 3,500 employees, has been awarded the prestigious “Palladium Balanced Scorecard Hall of Fame for Executing Strategy” by Palladium Group Inc, the global market leader in helping organizations execute strategies.

The award was presented to Lakshmi Machine Works in Seoul, South Korea at the Asia-Pacific Summit, on the 24th of September, 2008.

LMW had introduced the Balanced Scorecard to focus the company on its strategic performance drivers to alleviate the effect of slowdown in Textile Industry. Guided by its Office of Strategy and Risk Management, LMW has integrated its strategic performance management system with its Six Sigma, Activity-Based Management, knowledge management, and ERP implementation. In four years revenues have soared from $120 million to $504 million, profits from $8.8 million to $84.8 million.

LMW is ranked by Standard & Poor's as one of the eight emerging Indian Blue Chip Companies, and by Business Week as one of Asia's Top Growth Companies.

Commenting on receiving prestigious award Mr. Sanjay Jayavarthanavelu, Wholetime Director said, "Despite the recession in India's textile industry, we have achieved record revenues and profitability by becoming a Strategy-Focused Organization".

"The BSC has helped us to build our strategy, align resources to that strategy, set targets, and achieve greater transparency. More than 1,100 of our staff have their own scorecards, and the BSC has become a way of life at LMW".

The Palladium Group helps its clients link strategy and operations to achieve an execution premium. Palladium's expertise in strategy, finance, and IT delivered through consulting, education, training, and technology implementation services has helped more than 500 client organizations build strategy, drive performance, and optimize data. Palladium has offices throughout North America, Europe, the Middle East, Latin America, Africa, and the Asia-Pacific region. Palladium's Balanced Scorecard Hall of Fame for Executing Strategy recognizes organizations that have achieved an outstanding execution premium.

Lakshmi Machine Works Limited


Must ReadView All

Market share of Indian textile items expand in 13 nations

Textiles | On 11th Dec 2017

Market share of Indian textile items expand in 13 nations

Thirteen countries — Germany, France, Italy, the United States,...

Courtesy: EUBrasil

Textiles | On 11th Dec 2017

Euratex, ABIT welcome negotiations for EU-Mercosur FTA

European Apparel and Textile Confederation (Euratex) and the...

Most firms expect no change in investment plans: CII survey

Textiles | On 11th Dec 2017

Most firms expect no change in investment plans: CII survey

Despite visible optimism in Indian industry with the Confederation of ...

Interviews View All

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Urmil Arya

Sushila International, a well established textile organisation established ...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search