Development of balanced scorecard for office rental business

In recent years, limited research has evaluated the performance of facility management within office buildings from diverse perspectives. Traditional performance assessments often focus on financial measurements, overlooking essential factors such as product quality, staff competency, operational efficiency, and customer satisfaction. Given the challenges faced by the office rental sector, especially after economic downturns, a more holistic approach to performance measurement is required. This research applied the Balanced Scorecard (BSC) framework to assess and enhance building performance in the office rental business. Using a mixed-methodology approach that included in-depth interviews with five high-level managers (three from Grade A buildings and two from Non-Grade A buildings) and the surveys utilizing the Likert Scale questions, the study aimed to identify Critical Success Factors. It then employed the Modified Analytic Hierarchy Process (M-AHP) to assign weights to various performance measurement indicators through a questionnaire survey conducted with 35 managers (21 from Grade A buildings and 14 from Non-Grade A buildings). This analysis distinguished between models for Grade A and Non-Grade A office buildings. The outcomes were the development of a customized BSC framework specifically designed for the office rental business. This framework will provide practical guidelines to enhance effective strategic management.