A Balanced Scorecard Approach To Measuring Industry Performance
Stakeholders of the Malaysian construction industry produced a Construction Industry Master Plan to chart the strategic direction for the industry for a ten-year period between 2006 and 2015. The objectives of this paper were to review the recommendations of the master plan using the Balanced Sco...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Penerbit Universiti Sains Malaysia
2012
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| Subjects: | |
| Online Access: | http://eprints.usm.my/42149/1/Art_2_jcdc17-s1.pdf http://eprints.usm.my/42149/ http://web.usm.my/jcdc/vol17_s1_2012/Art%202_jcdc17-s1.pdf |
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| Summary: | Stakeholders of the Malaysian construction industry produced a Construction
Industry Master Plan to chart the strategic direction for the industry for a ten-year period
between 2006 and 2015. The objectives of this paper were to review the recommendations
of the master plan using the Balanced Scorecard approach, to develop a performance
management framework for the construction industry and to propose a set of performance
measures to allow stakeholders to monitor the progress of the implementation of the master
plan in achieving its strategic aims. The Balanced Scorecard approach was used to evaluate
the critical success factors, strategic thrusts and recommendations to ensure that the master
plan presents a balanced view to enhance the industry's competitive standing. The review
revealed that the recommendations generally address all four Balanced Scorecard
perspectives but lacked focus on customer relationships in the customer perspective and
customer management in the Internal Processes Perspective. Additional recommendations
are suggested to address these gaps. A list of key performance measures for the Malaysian
construction industry has been selected by linking each strategic thrust with the relevant
performance measures. |
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