IN SMALL CONFECTIONERY:
INDUSTRI MAKANAN AZAN SENDIRIAN BERHAD (IMASB)
This project is on the implementation of the Balanced Scorecard model for facilitating strategic management at the Industri Makanan Azan Sendirian Berhad IMASB in realizing its target to be more efficient and profitable. Robert Kaplan and David Norton developed the concept of the Balanced Scorecard in the early 1990s for motivating and measuring business performance. This management methodology is seen as an excellent tool for implementing organizational transformation measures in the IMASB. The article starts by giving a short theoretical introduction to the concept of the Balanced Scorecard, followed by an outline of the implementation of the Scorecard on both the strategic and operational levels. It concludes by examining the ways in which the Balanced Scorecard could be used to facilitate the strategic management process at the IMASB.
1. Increase focus on strategy and results
2. Improve organizational performance by measuring what matters
3. Align organization strategy with the work people do on a day-to-day basis
4. Focus on the drivers of future performance
5. Improve communication of the organization’s Vision and Strategy
6. Prioritize Projects / Initiatives
“Let them build it and they will use it” works much better. “Them” and “they” refer to the people in IMASB, who are responsible and accountable for performance and results. In practical terms, this means using cross-functional teams to build the scorecard system rather than giving responsibility to strategic planning, finance, or any other single group or department. Besides using cross-functional teams, here are some other things we can do to increase the chance of a successful Balanced Scorecard implementation: spend as much time developing interactive communications, vision, and business strategy as we do...