Balanced Scorecard in Pharmaceutical Company

1295 WordsSep 12, 20146 Pages
THE BALANCED SCORECARD IN AN INDONESIAN PHARMACEUTICAL COMPANY A CASE STUDY IN PT. DEXA MEDICA 1. INTRODUCTION 1.1. Background of the Study In modern competitive global economy, it is more important than ever to understand the process of value creation in the organization. The need to manage with a high level of customer focus, a clearer understanding of core business processes, the necessity of motivation and commitment of employees, the need for change on a continuous basis, and effective strategy implementation have led to the increased transparency of measuring business performance and the value drivers. Owners generally have a pretty clear picture of the direction in which they want their company to go, but their…show more content…
In southeast Asia with a population of 650 million people, Indonesia has the largest market share is 37% or when combined with Thailand and the Philippines dominate this area of the pharmaceutical industry market by 80%. (source www.cdmione.com). Here are the charts of market growth in the Indonesian pharmaceutical industry. Figure 1.Market Growth in TheIndonesian Pharmaceutical Industry Source: www.cdmione.com In healthcare, the balanced scorecard is the meal for today, with consultants advocating their management accounting system using the new miraculous treatment (Aidemark 2001). For many years the pharmaceutical industry is a good example of detailed performance measurement system (Pieper 2005). This industry has a specific balanced scorecard implementation, which is not relevant for other industries. And one of the biggest pharmaceutical companies in Indonesia, PT. DexaMedica has already used balanced scorecard as their performance measurement system since 2011. Serving as a good corporate citizen is one of our responsibilities and being a strategic asset of Indonesia is one of our foremost desires. For along time DexaMedica has worked together with governing institutions and the Indonesian Pharmaceutical Association – championing compliance and improving the industry standards. In this five years, there is a
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