Balanced Scorecard Approach Typically Focuses on the Essay

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Balanced scorecard approach typically focuses on the organization finding links and balances between its mission and vision and four perspectives -- the financial, learning & growth, internal operations and customer (Kaplan & Norton, 2013). This approach is contrasted with a modified version that was used in the construction of Heathrow Airport Terminal 5 (Basu, Little & Millard, 2009).

The Heathrow Terminal 5 project began with a number of objectives relating to getting the terminal opened on time and on budget. These included setting new standards in delighting the traveler; develop and deliver new standards of health, safety and security; earn proactive support and trust of key stakeholders; achieve exceptional performance to ensure value for money and to leave behind a legacy of quality (Basu, Little and Millard, 2009). As a mission statement, it really does not have a sense of focus to help those working on the project, but it does encapsulate a wide range of strategic objectives, so it can definitely help in setting strategies and objectives under the balanced scorecard.

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Further, the use and adaptation of the scorecard included three "fundamental criteria" -- rigour in purpose, rigour in measurement and rigour in application. These are already part of the balanced scorecard but it does not hurt to remind people of the usefulness of rigor.

The adaptation of the balanced scorecard approach carried with it a "four-tiered approach." The four tiers were stakeholders' engagement for commitment, create a culture that values quality, integrated communications campaign and implement best practice quality. There are some corollaries with the balanced scorecard in these tiers. For example, stakeholder engagement is akin to the customer perspective. Broadening the term customer to encompass all stakeholders is a critical adaptation, made necessary by the fact that this is a public project with no direct stakeholders. Implementing best practice quality relates well to the internal operations perspective. Best practices reflect benchmarking, for example, which is an internal operations technique to drive quality….....

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