Performance Evaluation of PT. Bank Mandiri Tbk based on Balanced Scorecard Method

Abstract

Competing companies not only increase in terms of the number of competitors, but also in terms of the intensity of competition. Today many companies use traditional measurement systems, in such systems there are still shortcomings in providing the information needed to measure and manage all the competencies that can trigger a company's competitive advantage. Given the current business competition environment that is so tight, Bank Mandiri certainly needs a precise performance measurement system that can provide a point of view on the business as a whole in order to compete and even excel in competition. Considering this background, the objectives of this study are: (1) Analyze Bank Mandiri's performance with balanced scorecard concept which includes financial perspective, customer perspective, internal business process perspective, and learning and growth perspective (2) Analyze the factors that must be considered in order to improve the performance of Bank Mandiri (3) Formulate strategic components (vision, mission, policy, and strategic steps) taken by Bank Mandiri. This study employed the descriptive with guided group discussion, in-depth interviews and using Balanced Scorecard analysis. The result showed that, the process of alignment vision to mission, mission to goal, goals to key performance indicators is aligned. The design of the performance-boosting strategy with the Balanced Scorecard approach on Bank Mandiri resulted in 7 strategy objectives and 12 key performance indicators classified into four Balanced Scorecard perspectives. In the formulation of Bank Mandiri's strategy map, customer perspective is at the top, the second position is process perspective, the third position there is people perspective, and at the lowest position there is financial perspective. Keywords: Balanced Scorecard, Bank Mandiri, Formulate Strategic, Performance Evaluation.