Open AccessProposed Performance Management System for A Project-based Renewable Energy Startup
Author(s) -
Sarifah Ulfa Sahubawa,
Andika Pratama
Publication year - 2021
Publication title -
european journal of business and management research
Language(s) - English
Resource type - Journals
ISSN - 2507-1076
DOI - 10.24018/ejbmr.2021.6.4.1039
Subject(s) - balanced scorecard , process management , sustainability , renewable energy , process (computing) , business , revenue , strategic management , key (lock) , performance management , marketing , computer science , engineering , accounting , ecology , computer security , electrical engineering , biology , operating system
The number of startups in Indonesia has surpassed 2,000 companies, but only a handful have survived and thrived in the VUCA world. One of the failure causes is the lack of good business management in translating the company’s vision and strategy into clear and measurable objectives. For a project-based renewable energy startup, as the current study’s focus, it is necessary to focus not only on generating revenue but also on achieving the company’s vision and mission to sustain. To address this, we formulated an integrated framework related to the Performance Management System of the renewable energy startup. We combined the Balanced Scorecard as a tool for communicating the company’s strategies, Key Performance Indicators as a corporate performance tracking tool, and Objectives and Key Results for a daily basis or short-term goal-setting tool. It is also complemented by the idea of Ethical Climate to embed ethics into the system. Finally, quantifiable company performance measures will be obtained to assist the startup in the decision-making process related to appropriate strategies for corporate sustainability.