BALANCED SCORECARD STRATEGY MAPPING FOR ESTABLISHING PERFORMANCE BENCHMARKS AT PT. SULUT BANK

Title: BALANCED SCORECARD STRATEGY MAPPING FOR ESTABLISHING PERFORMANCE BENCHMARKS AT PT. SULUT BANK

Author: Hendrik Manossoh

Affiliations: Master of Accounting Study Program, Faculty of Economics and Business, Universitas Airlangga Surabaya

Publisher: Universitas Airlangga

Abstract

In order to sustain and develop aggressively in the long term, PT. Bank Sulut needs to translate its vision, mission, and strategy into action plan into strategy mapping based on Balanced Scorecard approach. Strategy mapping based or. Balanced Scorecard is used to determine performance measures at FT. North Sulawesi Bank.

The problem raised in this research is how does strategy mapping based on balanced scorecard is used to determine performance measures at PT. North Sulawesi Bank. The purpose of this research is to result in performance measures derived from strategy mapping based on Balanced Scorecard at PT. North Sulawesi Bank.

The research was conducted through a qualitative research using a single case study research and took approximately 2 (two) months to complete. The object of this research is PT. Bank North Sulawesi Manado. The data were collected through observation, interviews, and documentation. The interview is done by interviewing top management in PT. Bank Sulut including its head of division and its board of directors. The data were analyzed using Miles and Huberman models, which includes data reduction, data display and conclusion drawing.

The results of this research show that PT. Bank Sulut has established a clear vision and mission that helps its management to formulate strategy well. However, the establishment of vision and mission does not involve all employees. Moreover, strategy mapping based on Balanced Scorecard has not been utilized by PT. Sulul Bank. The performance measurement of PT. Bank Sulut focuses solely on financial measures. Performance measurement based on non financial measures at PT. Bank is only performance measurement for its employees. The researcher proposes strategy mapping based on 4 (four) perspectives in Balanced Scorecard to determine the performance measures at PT. North Sulawesi Bank. Therefore, this research suggests the importance of strategy mapping based on Balanced Scorecard to determine performance measures to be implemented at PT. North Sulawesi Bank. By applying strategy mapping based on Balanced Scorecard, it is expected that PT. Bank Sulut can implement effective strategies for future success.

Keywords: Strategy Mapping, Balanced Scorecard, Performance Measures.

Sources: http://repository.unair.ac.id/34367/