Sarawak Foundation (Yayasan Sarawak) uses a Balanced Scorecard as a strategic management tool to measure performance annually through plan implementation.
According to the foundation, it analyses historical performance data and advises organisations on how to improve weaknesses and achieve greater success in all aspects of its services.
“It includes four perspectives — financial, customer, internal processes, and organisational capacity. These perspectives are interdependent and must be balanced in order for the organisation’s strategy to be implemented effectively. Each perspective measured in the Balanced Scorecard has a Key Performance Indicator (KPI) that must be met by each strategic objective holder in order for the Balanced Scorecard performance to be satisfactory at the end of the year,” it said in a statement.
Organisational capacity:
This contributes a 10 per cent weightage to the Balanced Scorecard. It consists of three strategic objectives, which include training and development measurements, shared values, and the use of ICT to drive organisational capacity.
Internal process
This contributes 30 per cent to the Balanced Scorecard, which consists of six strategic objectives. It includes measurements for service delivery, programme and project execution, regulation and compliance, and risk management.
Financial:
The financial perspective, which includes seven strategic objectives, includes budget utilisation measurements for state-funded programmes and projects, scholarships, programmes and assistance, education loans, repayment, administration, operating income, and electronic compliance self-assessment rating. This contributes 45 per cent of the Balanced Scorecard weightage.
Customer:
This perspective has two strategic objectives — internal and external customer satisfaction measurements. The perspective has a 15 per cent weightage in the Balanced Scorecard.
Last year, the foundation spent a total of RM13.0 million on state-funded programmes and RM8.5 million on other programmes, activities, and outreach to Sarawakians.
“Scholarships totalling RM38.7 million and scholarship loans totalling RM67.7 million have been distributed. These funds are provided to both new and existing students,” the foundation said.
It added that its core business expenditure on scholarships, scholarship loans, and programmes and assistance has contributed to the Balanced Scorecard’s financial perspective with a total performance of 39.2 per cent out of the 45 per cent weightage.
Using the Balanced Scorecard, the foundation was able to develop a set of KPI for each perspective and use the KPI to measure and track their performance over time.
“Sarawak Foundation is able to identify areas for improvement, make informed resource allocation decisions, and improve overall performance as a result of this. The foundation’s overall performance for the 26 KPIs set last year was 94.2 per cent.”
