Enhancing MCMC performance by using Balanced Score Card: a drive on Malaysia’s digital economy

Abstract

Performance Management is one of the important component for any Organisation and failure to manage it effectively leads to inability to measure its overall performance. This study was aimed to resolve the organisation problem in measuring its overall performance by using Balanced Score Card (BSC) and determine whether the Organisation’s Overall Performance have any impact on the Digital Economy. This study is importance in understanding the feasibility to implement BSC in Statutory Body in Malaysia. In the first cycle, Intervention Plan implemented by using all 4 BSC Perspective namely Financial, Customer, Internal Process and Learning Growth. For the first cycle, both Quantitative and Qualitative approaches employed in this research. This study able to ensure structured Performance Management System to measure Organisation’s Overall Performance and identify its linkage to Digital Economy. This research has able to change the Organisation PMS by using strategic tool to measure Outcome based KPIs for the Organization as well as providing accurate PMS Reporting that reflect the Organization Overall Performance. Since BSC is a Strategic Performance Management Tool, there is some gap when it implemented directly to the individual level. In order to complement the BSC, Agile Performance Management System knowing as Must Do, Should Do and Could Do (MSC) was employed in second cycle. The effectiveness of combination of BSC and MSC was verified by using Quantitative Approach and results shows that BSC and MSC has increased the performance employees and Organisation as a whole.