Incheon Airport won the Grand Prize in the ‘2012 Korea BSC Strategy Implementation Conference’ which was co-hosted by Korea Economic Daily and WesleyQuest on August 23, with high recognition for its performance in strategy-oriented BSC operation.

BSC (Balanced ScoreCard) is a management innovation technique created by a world-renowned scholar of business administration, Prof. Robert S. Kaplan of Harvard University and a business consultant Dr. David P. Norton, which focuses on managing and executing changes in organization by developing an evaluation scorecard closely linked to business strategy.

Korea Economic Daily, in conjunction with WesleyQuest – a global business consulting firm specializing in management performance – together launched the ‘Korea BSC Strategy Implementation Award’ in 2005 and has been overseeing the award since then with a mandate to share the concept of BSC among the broader business community and seek for best business cases inside and outside the country to be shared globally.

By being awarded the prize, the Airport has been highly recognized for its efforts to win the World’s Best Airport title from Airports Council International (ACI) for the seventh year in a row and by being listed on the ‘Hall of Excellence’, which is a first for the airport industry worldwide. The driving forces behind these honorable titles were the airport’s steady efforts which have successfully come to fruition over time in routinizing business strategy by closely connecting the airport’s mid-long term strategy to the goals of its members, developing a business model to encourage its members to voluntarily come up with challenging targets, emphasizing a performance-driven budgeting system, and aligning the organization around business strategy.

Also, the Airport has built and implemented a ‘Pan-Airport Performance Management Model’ by sharing the Critical Success Factors (CSF) in airport operation with interested parties inside and outside the airport including resident government agencies, airlines and commercial facility operators as well as contractors, and by closely cooperating with them around a mutual goal of keeping the World’s Best Airport title.

Mr. Lee Kwang-Soo, Executive Director of Planning & coordination Group at the Airport, commented that, “We will continue to make our best efforts to become a global airport that represents the country, by establishing a performance- driven organizational culture incorporating the feedback from the airport’s staff and also the management evaluation of external experts.”