Balanced Scorecard Framework and Proposed Action Plan : Petrochina International Companies in Indonesia

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Untoro, Alice and Nugroho, Andika R. and Laras, Bambang Kanti and Brigianto, Rudy and Ariobuwono, Sri Bimo and Murtono, Wiseno Benny (2004) Balanced Scorecard Framework and Proposed Action Plan : Petrochina International Companies in Indonesia. Project Report. Sekolah Tinggi Manajemen IPMI, Jakarta Selatan. (Unpublished)

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Indonesia is Important energy source In the region, which is the world's largest LNG exporter and proven proven oil reserves around 5 billion barrels. A new oil and gas law promotes more conducive environment and it is expected to attract foreign Investors come to Indonesia. PetroChina International (PCI) as a subsidiary of one of the largest Oil and Gas Companies from China, PetroChina Company Limited, entered Indonesia in 2002 by acquiring Devon Energy. Its operation is under a Production Sharing Contract (PSC) agreement with BP Micas focusing on oil and gas upstream operations. PCI has six PSC joint venture operations located at Papua, Central Sumatra, and East Java with a total production rate of 45,000 bbl / day. In doing business in Indonesia, PCI should have a strategy, which is suitable with the current conditions and able to achieve the comparative mission. Group E from IPMI Business School - Executive Class January 2002 has tried to assess and develop the Balances Scorecard framework for company level and one Department Level. The Finance Department is chosen as a pilot project before rolling out to the entire organization. Based on the assessment done by interview and survey, the group proposed the company's vision, mission, and strategy as a basis for developing the Balanced Scorecard. The group also sums up the customer value proposition describing how PCI will differentiate itself to customers and what particular set of values ​​that PCI will dellver. The Balanced Scorecard framework developed by the group is basically the translations of the organization's strategy into Objectives, Key Success Factors, Key Performance Indicators, and Initiatives in cach perspective, e.g. Financial, Customer, Internal Business Process, and Employee Learning and Growth. Employee productivity and satisfaction are the foundation for the others perspectives in achieving operational excellence from Internal Business Process, then corporate governance and customer intimacy in Customer perspective. And at the end is to achieve productivity and profitability, which are part of the financial strategy. The Balanced Scorecard can be implemented effectively if the PCI has communication program to build awareness of the company's vision, mission, and strategy, educate the key Balanced Scorecard concepts, generate engagement and commitment, and encourage participation in the process. In addition, PCI should cascade down the Balanced Scorecard to all organization levels, putting it as an individual's scorecard and performance reward, then monitor continuously and adjusted accordingly.

Item Type: Monograph (Project Report)
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HD Industries. Land use. Labor
Divisions: Library > GFP (Group Field Project)
Depositing User: Putri Lumithasari
Date Deposited: 16 Jan 2020 07:32
Last Modified: 16 Jan 2020 07:32

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