Economic Value Added dan Balanced Scorecard

Presentasi berjudul: "Economic Value Added dan Balanced Scorecard"— Transcript presentasi:

1 Economic Value Added dan Balanced Scorecard
Pengukuran Kinerja Economic Value Added dan Balanced Scorecard

2 Financial Performance Measures
ROA: Return on Assets RONA: Return on Net Assets ROI: Return on Investment ROE: Return on Equity ROCE: Return on Capital Employed

3 Pengertian EVA Laba yang tersisa setelah dikurangi dengan beban atas modal yang digunakan untuk menghasilkan laba itu sendiri Mengukur kontribusi ekonomi yang diberikan oleh suatu unit (proyek) terhadap perusahaan (pemegang saham) Menyamakan kepentingan manager dan pemilik

4 Pengertian EVA

5 Pengertian EVA Sama dengan economic profit
‘You can only get richer if you invest your money at a higher return than the cost of that money to you’ (Roberto Goizueta) Cara perhitungan sederhana dan mudah dipahami oleh mereka yang ‘awam’ dengan akuntansi (finance) EVA = Laba – Cost of Capital * Investment

6 Elemen EVA Laba : laba bersih operasi setelah pajak (net profits after tax: NOPAT) Net profit: laba setelah penyesuaian untuk menghilangkan berbagai distorsi akuntansi. Penyesuaian yang diperlukan adalah: Biaya riset dan pengembangan Biaya pemasaran dan promosi Biaya training dan pengembangan karyawan

7 Elemen EVA Cost of Capital
Biasa juga disebut dengan required rate of return Tingkat return yang memberi kompensasi kepada investor atas risiko yang ditanggung, yang biasanya berbeda-beda antara industri yang satu dengan yang lainnya

8 Elemen EVA Cost of Capital
Jika modal berasal dari pinjaman, maka cost of capital sebesar bunga pinjaman (after tax) Jika modal dari pemilik (equity), maka besarnya modal, cost of capital bisa dihitung dengan model CoC = rf + b (Rm – Rf) Jika modal berasal dari pinjaman dan equity, maka COC adalah rata-rata tertimbang COC

9 Penyesuaian Laba Diperlukan karena akuntansi tidak menyajikan ‘laba yang sesungguhnya’ Komponen utama yang harus disesuaikan Biaya riset dan pengembangan: tidak semuanya dikurangkan dari penjualan Biaya pemasaran dan promosi: tidak semuanya dibebankan pada periode itu Biaya training dan pengembangan karyawan: tidak semuanya dibebankan ke periode pengeluaran

10 Balanced Scorecard

11 Pengertian Sistim penilaian kinerja yang menunjang kelangsungan hidup dan sustainability of growth perusahaan Sistim penilaian kinerja yg dikembangkan berdasarkan strategi perusahaan Sistim penilaian kinerja yang mengintegrasikan aspek finansial dengan aspek lain yg penting bagi perusahaan

12 Pengertian Basic Philosophy of Control:
Jika anda tidak bisa mengukur, maka Anda tidak bisa mengendalikannya If you cannot measure, you cannot control Target control: mengarahkan keputusan dan perilaku agar menunjang pelaksanaan strategi

13 Aspek Kinerja yg Diukur
Financial Internal Business Customer Learning & Grwth

14 Aspek Kinerja yg Diukur
Financial Visi & Strategi Internal Business Customer Learning & Grwth

15 Why “Balanced”? The Balanced Scorecard menjabarkan strategi ke dalam sistim yg tergintegrasi yg mencakup: Outcomes (lag indicators) and Performance drivers (lead indicators) Internal and External Perspectives Qualitative and Quantitative Information Limited number of indicators

16 BSC Overview Balanced Scorecard
BSC Concept BSC Overview Scorecard (kartu skor) adalah kartu yang digunakan untuk mencatat skor performance seseorang.Kartu skor juga dapat digunakan untuk merencanakan skor yang hendak diwujudkan oleh seseorang di masa depan. Balanced Scorecard Kata balanced (berimbang) berarti adanya keseimbangan antara performance keuangan dan non-keuangan, antara performance jangka pendek dan performance jangka panjang, dan antara performance yang bersifat intern dan performance yang bersifat ektern.

17 Financial ROCE Customer Customer Loyality On-time delivery Internal/Business/Process Process Quality Process Cycle Time Learning and Growth Employee Skills

18 BSC Perspectives Model
BSC Concept BSC Perspectives Model

19 Pengertian Visi Gambaran mengenai masa depan perusahaan (yg lebih baik dari saat ini): 20 – 30 tahun lagi perusahaan ini seperti apa? Tujuan jangka panjang, cita-cita yang akan diwujudkan Progress yang akan dicapai perusahaan di masa yang akan datang

20 Pengertian Strategi Penentuan tujuan jangka panjang beserta cara untuk mencapainya, serta alokasi sumber daya yang dibutuhkan untuk melaksanakannya Cara, metoda, pendekatan, upaya yang akan dipakai untuk memenangkan persaingan

21 ANOTHER PERFORMANCE MANAGEMENT FRAMEWORK
Vision perspectives Strategic Aims Critical Success Factors Strategic Measures Action Plan Financial Customer Vision Internal & Business Procesess Learning & Growth

22 FI CU IP LG Strategic Map Maximize Financial Returns
Increase Revenue Growth Productivity Increase New Revenue Sources Increase Cust. Val. Prop (CVP) Improve Cost Structure Improve Asset Utilization Increase Market Share Increase Price Maintain Profit Margin Reduce Admin Cost Reduce Avg W/H VAlue Trusted, Friendly, convenient and affordable Popular Model Only CU Easy Parking Available and knowledgeable staff Friendly and welcoming staff Professional service and complaint handling Affordable Financing Quality furniture Fast credit approval Delivery within 24 hrs Sufficient staff in shop at all times Handle credit requests in 10 minutes Deliver the right product to the right address within 18 hrs Handle all complaints on the spot IP Reduce no of items in selection No item in selection at over 250$ a month financing Keep quality complaints at minimum 4 week selection turn - over max Reduce a number of admin employees LG All staff members through selection training All staff members through Basic Sales Training All staff members through SWA Operating Training Using Technology to improve process effectiveness

23 Staff: Our staff is our biggest asset
BALANCE SCORECARD - STRATEGIC VIEW Balance scorecard Internal business Financial* perspective Customer perspective Innovation & Learning Staff: Our staff is our biggest asset Customer: Our success rest on satisfying consumer needs Innovation: Innovation is our key to future growth Excellence: Excellence is our way of life

24 Strategic Objective & Measures
Strategic Planning with BSC Strategic Objective & Measures FI

25 Strategic Objectives & Measures
FI Maximize Financial Returns    Revenue Growth Increase New Revenue Sources Increase Market Share Increase CVP Increase Price Maintain Profit Margin Productivity Improve Cost Structure Reduce Admin Cost Improve Asset Utilization Reduce Average Warehouse Value IRR, NPV ROCE Revenue Growth (%) Market Share (%) PriceGrowth (%) Profit Margin (%) Admin Cost ($) Average Warehouse Value ($)

26 Strategic Objectives & Measures
CU “Trusted, friendly, convenient and affordable”      Friendly and welcoming staff Available and knowledgeable staff Professional service & complaint handling Easy parking Delivery within 24 hrs Fast credit approval Quality furniture Affordable financing Popular Models Only Customer Staff Friendlyness Rating (%) Customer Staff Availabity Rating (%) Customer Staff Knowledge Index (%) Customer Service Level Index (%) Customer Parking Availability Index (%) Customer Delivery Rating (%) Customer Credit Approval Rating (%) Customer Furniture Quality Rating (%) Customer Financing Rating (%) Customer Selection Rating (%)

27 Strategic Objectives & Measures
IP Sufficient staff in shop at all times Handle all complaints on the spot Always a free parking spot Deliver the right products to the right address within 18 hrs Handle credit requests in 10 minutes Keep quality complaints at minimum No item in selection at over 250$ a month financing 4 week selection turn-over max. Reduce no of un-pop. of items in selection Staff in Shop (#.) Complaint Handled on the spot (%) Hours with no parking spot available (hours) No. of products deliver more than 18 hrs (#)        Credit Request Handled in 10 minutes (%) Quality complaint per 100 purchases (#) Items with more than $250 per month financing (#) No. of items above 4 week turn-over limit (#) No. of un-pop items in selections (#)

28 Strategic Objectives & Measures
LG All staff members through Basic Sales Training All staff members through Selection Training Reduce number of admin employees Using Technology to improve process effectiveness All staff members through SWA Operating Training Percentage of employees with Basic Sales Training Certificate (%) Percentage of employees with current Selection Certificate (%) Number of Admin Employees (#) Percentage of Overhead Cost Reduction (%) Cost Effectiveness (%) Percentage of employees with SWA Certificate Note: SWA = Store Workflow Automation

29 Key BSC terminology Strategy Map: Diagram of the
cause-and-effect relationships between strategic objectives Strategic Theme: Operating Efficiency Objectives Fast ground turnaround Statement of what strategy must achieve and what’s critical to its success Measurement On Ground Time On-Time Departure How success in achieving the strategy will be measured and tracked Target 30 Minutes 90% The level of performance or rate of improvement needed Cycle time optimization Key action programs required to achieve objectives Initiative Financial Profitability Fewer planes More customers Customer Flight Is on time Lowest prices Internal Fast ground turnaround Learning Ground crew alignment

30 Strategic Theme: Operating Efficiency
Balanced Scorecard Example Strategic Theme: Operating Efficiency Objectives Measurement Target Initiative Financial Profitability Profitability More Customers Fewer planes Market Value Seat Revenue Plane Lease Cost 30% CAGR 20% CAGR 5% CAGR Fewer Planes More Customers Customer Flight is on -time Lowest prices FAA On Time Arrival Rating Customer Ranking (Market Survey) #1 Quality management Customer loyalty program Flight Is on Time Lowest Prices Internal Fast ground turnaround On Ground Time On-Time Departure 30 Minutes 90% Cycle time optimization program Fast Ground Turnaround Ground crew alignment % Ground crew trained % Ground crew stockholders yr % yr % yr % ESOP Ground crew training Learning Ground Crew Alignment

31 Contoh Pengembangan Measures

32 Customer Value Proposition
Strategic Planning with BSC Customer Value Proposition Generic Customer Value Propositions (CVP) or differentiating strategies: 1. Product Leadership 2. Customer Intimacy 3. Operational Excellence

33 Customer Value Proposition
Strategic Planning with BSC Customer Value Proposition Innovation Processes Invention Product Development Exploitation (speed to market) Customer Management Processes Solution Development Customer Service Relationship Advisory Services Operational Processes STRATEGY PRODUCT LEADERSHIP CUSTOMER INTIMACY Supply Chain Management Operations Efficiency: Cost, Quality, Cycle time Capacity Management OPERATIONAL EXCELLENCE

34 Product/Service Attributes
Strategic Planning with BSC Customer Value Proposition Value Time Relationship Price Quality Functionality Product/Service Attributes Image The Customer Value Proposition

35 Services that “push the envelope” Product/Service Attributes
Strategic Planning with BSC Customer Value Proposition Unique products and Services that “push the envelope” Product Leadership Strategy Product/Service Attributes Time Functionality Relationship Image Brand “The Best Product” Differentiator Basic Requirement

36 Customer Value Proposition
Strategic Planning with BSC Customer Value Proposition Personal service tailored to produce results for customer and build long-term relationships Customer Intimacy Strategy Product/Service Attributes Relationship Service Image Brand “Trusted Brand” Differentiator Basic Requirement

37 Customer Value Proposition
Strategic Planning with BSC Customer Value Proposition Operational Excellence Strategy Product/Service Attributes Relationship Image Price Quality Time Selection Brand Differentiator Basic Requirement “Smart Shopper” Quality and selection in key categories with unbeatle prices

38 Product/Service Attributes
Strategic Planning with BSC Customer Value Proposition for Popular Furniture Malls? “Trusted, friendly, convenient and affordable” Customer Intimacy Strategy Product/Service Attributes Relationship Service Image Brand “Trusted Brand” Quality furniture Friendly and welcoming staff, Available and knowledgeable staff, Professional service and complaint handling, Easy parking, Delivery within 24 hrs, Fast credit approval, Affordable financing

39 Internal Process Value Chain
Strategic Planning with BSC

40 Strategic Planning with BSC

41 Popular Furniture Malls, Singapore
Strategic Planning with BSC Popular Furniture Malls, Singapore Strategy: Revenue Growth & Productivity with Customer Intimacy Strategic Objectives in Financial Perspective : Maximize Financial Returns Increase Revenue Growth Increase Productivity Increase New Revenue Sources Increase Cust. Val. Prop (CVP) Improve Cost Structure Improve Asset Utilization Increase Market Share Increase Price Maintain Profit Margin Reduce Admin Cost Reduce Avg W/H Value

42 Contoh Basic BSC Strategy: Revenue Growth & Productivity with Customer Intimacy Strategic Objectives in Customer Perspective : “Trusted, friendly, convenient and affordable” Popular Model Only Friendly and welcoming staff Available and knowledgeable staff Professional service and complaint handling Easy Parking Delivery within 24 hrs Fast credit approval Quality Furniture Affordable Financing

43 BSC: Network Sebab - Akibat
Strategic Planning with BSC BSC: Network Sebab - Akibat Cause Effect Diagram in Financial and Customer Perspectives : Maximize Financial Returns Increase Revenue Growth Productivity FI Increase New Revenue Sources Increase Cust. Val. Prop (CVP) Improve Cost Structure Improve Asset Utilization Increase Market Share Increase Price Maintain Profit Margin Reduce Admin Cost Reduce Avg W/H Value CU “Trusted, friendly, convenient and affordable” Popular Model Only

44 FI CU IP LG Strategic Map Maximize Financial Returns
Increase Revenue Growth Productivity FI Increase New Revenue Sources Increase Cust. Val. Prop (CVP) Improve Cost Structure Improve Asset Utilization Increase Market Share Increase Price Maintain Profit Margin Reduce Admin Cost Reduce Avg W/H Value “Trusted, friendly, convenient and affordable” Popular Model Only CU Available and knowledgeable staff Easy Parking Friendly and welcoming staff Professional service and complaint handling Affordable Financing Quality Furniture Fast credit approval Delivery within 24 hrs Sufficient staff in shop at all times Handle credit requests in 10 minutes Handle all complaints on the spot Deliver the right products to the right address within 18 hrs IP Reduce no. of items in selection Always a free parking spot Keep quality complaints at minimum 4 week selection turn-over max. No item in selection at over 250$ a month financing All staff members through Selection Training LG Reduce number of admin employees All staff members through SWA Operating Training All staff members through Basic Sales Training Using Technology to improve process effectiveness

45 3 Phases of the BSC Project
Development Phase - Multi-discipline team - Creation of Strategy Map February April Implementation Phase - Strategic Board reporting Package - Cascade message to all staff August Monitoring Phase - Change control - Embed into regular meetings October

46 That’s……, that’s it Folks