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Oct 13, 2025 by wbrum.org 137 views

Measuring the Performance of PT Jasa Raharja (Persero) North Sumatra Branch with Balanced Scorecard

Introduction

In today's competitive business environment, measuring company performance is crucial for ensuring the achievement of objectives and stakeholder satisfaction. PT Jasa Raharja (Persero) North Sumatra Branch, as an insurance company, needs to measure comprehensive performance to stay ahead of the competition. This study examines the performance of PT Jasa Raharja (Persero) North Sumatra Branch using the Balanced Scorecard (BSC) framework during the period 2000 to 2003.

Background

The Balanced Scorecard (BSC) is a strategic management tool that helps organizations measure performance from four different perspectives: financial, customer, internal business processes, and learning and growth. The BSC framework provides a comprehensive view of an organization's performance, enabling it to make informed decisions and drive business growth. In this study, we will examine the performance of PT Jasa Raharja (Persero) North Sumatra Branch using the BSC framework and identify areas for improvement.

Methodology

This study uses a case study approach with descriptive and comparative analysis. Data was collected through interviews, documentation, and questionnaires. The study period was from 2000 to 2003, and the data was analyzed to identify trends and patterns in the company's performance.

Results

The results of this study showed that PT Jasa Raharja (Persero) North Sumatra Branch had measured performance in the four BSC perspectives, namely finance, customers, internal business processes, and learning & growth. The company's performance in all four perspectives has increased during the study period.

Financial Perspective

In the financial perspective, PT Jasa Raharja (Persero) North Sumatra Branch experienced an increase in profit before tax from 2000 to 2003. In 2000, profit before tax reached Rp 5,898,390,410. In 2001, profit increased 67.02% to Rp 9,851,311,188. In 2002, profit increased 29.50% to Rp 12,753,428,154. However, in 2003, profit decreased 17.55% to Rp 10,515,474,240. Profit fluctuations are greatly influenced by the amount of underwriting costs that occur.

Customer Perspective

In terms of customers, PT Jasa Raharja (Persero) North Sumatra branch recorded an increase in the number of customers from 2000 to 2003. The number of customers in 2000 was 362,773, increased to 396,146 (9.20%) in 2001, 456,028 (15.12%) in 2002, and 539,894 (18.39%) in 2003. The level of customer satisfaction also showed a positive figure, which was 83.10% in 2002 and 83.67% in 2003.

Internal Business Perspective

In terms of internal business processes, PT Jasa Raharja (Persero) North Sumatra Branch shows the speed of consistent compensation. The completion period for compensation from 2000 to 2003 is 1.2 days, 1.1 days, 1.1 days, and 1 day. This speed shows the efficiency and effectiveness of the company in running internal business processes.

Learning and Growth Perspective

Finally, in the perspective of learning and growth, PT Jasa Raharja (Persero) North Sumatra Branch recorded an increase in employee productivity from 2000 to 2003. Employee productivity in 2000 was Rp. 0.24 billion. In 2001, productivity increased 41.67% to Rp 0.34 billion, then increased again 50% to Rp 0.51 billion in 2002. In 2003, employee productivity increased again 11.76% to Rp 0.57 billion.

Analysis

The results showed that PT Jasa Raharja (Persero) North Sumatra Branch had successfully implemented BSC in measuring comprehensive performance. The measured performance improvement in all four perspectives shows that the company has a good strategy and strong commitment in running its business.

However, some notes need to be considered. Profit fluctuations before tax in financial perspectives show that companies need to continue to conduct analysis and control over underwriting costs. Although the level of customer satisfaction is high, companies need to continue to strive to improve services and communication to be more effective in reaching and satisfying customers.

Suggestion

PT Jasa Raharja (Persero) North Sumatra Branch can consider conducting further analysis of the factors that influence earnings fluctuations before tax and develop effective strategies to control underwriting costs. Companies can also develop innovative programs and strategies to improve services and communication with customers.

Conclusion

PT Jasa Raharja (Persero) North Sumatra Branch has implemented BSC effectively in measuring company performance. Company performance in all four BSC perspectives shows positive results. This study provides important information for PT Jasa Raharja (Persero) North Sumatra Branch in managing and improving company performance. In the future, companies can take advantage of the results of this study to develop strategies and programs that are more directed and measurable in achieving their business goals.

Recommendations

Based on the findings of this study, the following recommendations are made:

Conduct further analysis: PT Jasa Raharja (Persero) North Sumatra Branch should conduct further analysis of the factors that influence earnings fluctuations before tax and develop effective strategies to control underwriting costs.
Develop innovative programs: Companies can develop innovative programs and strategies to improve services and communication with customers.
Improve internal business processes: PT Jasa Raharja (Persero) North Sumatra Branch should continue to improve its internal business processes to ensure efficiency and effectiveness.
Enhance employee productivity: Companies should continue to enhance employee productivity to achieve better results.

Limitations

This study has some limitations that need to be considered. The study period was from 2000 to 2003, and the data was analyzed to identify trends and patterns in the company's performance. However, the study did not consider other factors that may influence the company's performance, such as market trends and competitor analysis.

Future Research Directions

This study provides a foundation for future research in the area of Balanced Scorecard implementation in insurance companies. Future studies can explore the following research directions:

Long-term implementation: Future studies can examine the long-term implementation of BSC in insurance companies and identify the factors that influence its success.
Comparison with other companies: Future studies can compare the implementation of BSC in PT Jasa Raharja (Persero) North Sumatra Branch with other insurance companies to identify best practices.
Development of BSC framework: Future studies can develop a more comprehensive BSC framework that includes additional perspectives, such as social and environmental perspectives.

Conclusion

In conclusion, this study has provided important insights into the implementation of Balanced Scorecard in PT Jasa Raharja (Persero) North Sumatra Branch. The study has shown that the company has successfully implemented BSC in measuring comprehensive performance and has achieved positive results in all four BSC perspectives. However, some notes need to be considered, and recommendations have been made to improve the company's performance. Future research directions have also been identified to further explore the implementation of BSC in insurance companies.
Q&A: Measuring Company Performance with Balanced Scorecard

Introduction

In our previous article, we discussed the implementation of Balanced Scorecard (BSC) in PT Jasa Raharja (Persero) North Sumatra Branch. The study showed that the company had successfully implemented BSC in measuring comprehensive performance and had achieved positive results in all four BSC perspectives. In this article, we will answer some frequently asked questions (FAQs) related to the implementation of BSC in PT Jasa Raharja (Persero) North Sumatra Branch.

Q: What is Balanced Scorecard (BSC)?

A: Balanced Scorecard (BSC) is a strategic management tool that helps organizations measure performance from four different perspectives: financial, customer, internal business processes, and learning and growth.

Q: Why is BSC important for PT Jasa Raharja (Persero) North Sumatra Branch?

A: BSC is important for PT Jasa Raharja (Persero) North Sumatra Branch because it provides a comprehensive view of the company's performance, enabling it to make informed decisions and drive business growth.

Q: What are the four perspectives of BSC?

A: The four perspectives of BSC are:

Financial Perspective: This perspective focuses on financial performance, including revenue, profit, and return on investment.
Customer Perspective: This perspective focuses on customer satisfaction, including customer retention, customer acquisition, and customer loyalty.
Internal Business Processes Perspective: This perspective focuses on internal business processes, including efficiency, effectiveness, and quality.
Learning and Growth Perspective: This perspective focuses on learning and growth, including employee development, innovation, and knowledge management.

Q: How did PT Jasa Raharja (Persero) North Sumatra Branch implement BSC?

A: PT Jasa Raharja (Persero) North Sumatra Branch implemented BSC by:

Defining strategic objectives: The company defined strategic objectives for each of the four perspectives.
Developing performance indicators: The company developed performance indicators for each of the strategic objectives.
Collecting data: The company collected data on the performance indicators.
Analyzing data: The company analyzed the data to identify trends and patterns.
Making decisions: The company made decisions based on the analysis of the data.

Q: What were the results of the implementation of BSC in PT Jasa Raharja (Persero) North Sumatra Branch?

A: The results of the implementation of BSC in PT Jasa Raharja (Persero) North Sumatra Branch showed that the company had achieved positive results in all four BSC perspectives, including:

Financial Perspective: The company's profit before tax increased by 67.02% in 2001 and 29.50% in 2002.
Customer Perspective: The company's customer satisfaction increased by 83.10% in 2002 and 83.67% in 2003.
Internal Business Processes Perspective: The company's internal business processes became more efficient and effective, with a completion period for compensation of 1.2 days in 2000 and 1 day in 2003.
Learning and Growth Perspective: The company's employee productivity increased by 41.67% in 2001 and 50% in 2002.

Q: What are the implications of the study for PT Jasa Raharja (Persero) North Sumatra Branch?

A: The study has several implications for PT Jasa Raharja (Persero) North Sumatra Branch, including:

Continued implementation of BSC: The company should continue to implement BSC to ensure that it remains competitive in the market.
Development of innovative programs: The company should develop innovative programs and strategies to improve services and communication with customers.
Improvement of internal business processes: The company should continue to improve its internal business processes to ensure efficiency and effectiveness.
Enhancement of employee productivity: The company should continue to enhance employee productivity to achieve better results.

Conclusion

In conclusion, the implementation of Balanced Scorecard (BSC) in PT Jasa Raharja (Persero) North Sumatra Branch has provided a comprehensive view of the company's performance, enabling it to make informed decisions and drive business growth. The study has shown that the company has achieved positive results in all four BSC perspectives and has several implications for the company's future development.