The objectives of financial perspective of Genting Malaysia Berhad in balanced

scorecard approach is to find ways to increase company’s revenue and profit and reduce
unnecessary expenses, to alleviate and solve the company's losses caused by the
refurbishment of facilities and the recent pandemic. Through the 2016-2019 annual report of
Genting Malaysia Berhad, we can know that the leisure and entertainment and hotel business
units have reduced income due to the pandemic and the renovation stage. From a profit of
RM3,090.6M in 2016 to the only RM1,489.4M in 2019, there was no profit in 2018 and a
loss of RM4M.
The objectives of Genting's customer perspective program in this BSC is to attract
new consumers, keep loyal consumers, increase consumer confidence in product and
services, and increase consumer satisfaction and loyalty. Genting Malaysia Berhad saw the
rise of major tourism industries from 2016 to 2018, and they launched various travel
packages and advertisements to attract a large number of consumers. At that time, Genting
did not realize the seriousness of the problem and did not make obvious counterattacks in
advertising, promotional methods, and supporting methods, resulting in the loss of a large
number of company's market-shares and reduced revenue. Fortunately, in 2019, the company
knew the seriousness of the problem and used various promotional programs to increase the
company's revenue and market share which was halted by the pandemic. If only old
consumers remain, Genting will not be able to increase the company's revenue. Therefore
Genting needs to add new consumers and to ensure consumer satisfaction to increase
company's reputation and consumer loyalty.
Genting Malaysia Berhad’s internal process perspective includes consumer
experience quality, access improvements, and new service development. During the
epidemic, people cannot participate in any recreational activities or travel. After the epidemic
is relaxed, people will plan travel plans or find leisure and entertainment activities to relax
because of the previously suppressed mood of being unable to travel. This is also a good
opportunity to increase the company's revenue because the company can use this opportunity
to launch new service plans and strengthen the company's internal operations to attract
customers to visit again. Consumers wants to feel valued and cared about for other purposes
rather than just consumption which increases customer loyalty and company reputation.
Finally, the objectives of the learning and growth perspective of Genting Malaysia
Berhad is mainly to improve the skills, talents, and knowledge of human capital, improve
the database, information system, network and technical infrastructure of information
capital, and improve the culture, and employee alliances of organizational capital. From
the service attitude of waiters in leisure and hotel companies to customers to the experience
of consumers after experiencing the service, they will directly affect the income, reputation,
and so on. A complete database management system helps to improve the accessibility of the
organization to data, which in turn helps consumers to enjoy company services more simply
and conveniently. (Lehr, 2020). Human capital can be used to create material wealth for an
economy or company, so the development and management of human capital will be one of
the most important factors that determine economic and organizational performance.
(Richard, 2007).

Lead and lag indicators and strategic map

Objective

When developing a balanced scorecard, a combination of leading and lagging

indicators have to be used so that the metrics can be identified, control the metrics and track
performance towards strategic goals. The objective is not to maximize the measures; it is to
gauge progress in achieving organizational goal The reason why both have to present is that
without this combination it is hard to determine the way the outcomes will be achieved ,no
early warning whether strategic goals are being met, too much emphasis on term goal and
performance and inability to take precautionary actions to be able to meet strategic goals..

Leading indicators can be determined at the level of individual processes (process

inputs and activities) while lagging indicators (aggregated effects/outcomes at organizational
level) are influenced by the number of leading indicators. Lag indicators are common to most
companies in the same industry and more focus will be given to financial measure such as
ROI, market share and customer retention. Leading indicators are usually drivers of
performances, forward looking and unique to the company strategies. Both these indicators
help to translate vision onto strategies, develops commitment to these strategies and the
objectives and measures are communicated to the whole company.

The financial perspective allows the company to see how the management and top
management decisions are contributing to financial success ,provides a summary of past
results and the measurable outcomes of the current situation with respect to those events and
ability to compare with other firms in the industry The main objective for Genting is to
increase profits and revenue and reduce overall expenses in all areas of the company. By
increasing sales in both product and services and identifying specific areas where expenses
can be reduced either fixed and variable or mixture of both. The customer orientation
perspective evaluates the performance of the business from the viewpoint of internal business
users. If the enterprises want to create a sustainable business structure in addition to good
financial performance in the long term, they need to produce products and services that
customers value (Pan & Nguyen, 2015, p. 180). Genting main objective is to attract new
customers, retain their current customers and increase customer confidence in using the
products and services offered.
 The management of the company is most concerned about the operation/internal
excellence perspective. The balanced scorecard approach allows for the identification of new
methods and processes that can be applied to achieve the desired goals in customer and
finance metrics. The second one is the inclusion of the renewal process in the internal
business processes perspective so that enterprises can identify new emerging and potential
needs of customers through the renewal procedure of the Balanced Scorecard application
and develop products and services to meet those needs (Ölçer, 2005, p. 95 )Genting wants the
company to be focused on providing the customer with a quality experience, access
improvements to all areas of the company and R&D efforts in creating new services in line
with customer feedback and expectation. The leaning and growth perspective main objective
is to provide organizational learning and development, and the measurement metrics which
involves both the development of human and material resources. The most important element
of the learning and growth perspective is the degree of having future value creation capacity
of the enterprises for their shareholders (Amaratunga, Baldry, & Sarshar, 2001, p. 184).
The company will look to upskill their human capital, investing and strengthening their
information capital and implement a organization conversion strategy which will to develop a
better culture within the company.

Strategy

The renovation of Genting's outdoor entertainment, the company can spend its efforts
to increase indoor entertainment facilities or services, that will complement well with their
outdoor entertainment. Since Genting has a certain reputation in Malaysia, Genting can use
some festivals to produce a series of company peripheral products to attract the participation
of some target consumers, thereby increasing the company's profitability. Genting can
calculate or stop some cooperation that does not benefit the company, such as leases of land
and facilities and strengthen, create new alliances which benefit the company

Genting can increase the budget for online or TV advertising, so that more consumers
know the company's promotions, services and other information. Consumers will choose to
try consumption after knowing the company's services. Loyal customers have a general
understanding of the company's services, so Genting can choose to increase the benefits to
loyal consumers, making them feel that they are still different from ordinary consumers.
Genting can increase some guarantees to consumers, such as facility safety guarantees or
service promises, thereby enhancing consumers' confidence in the company.
 Consumers pay much attention to the feeling after experiencing the service and
products. If the service makes the consumer impressed, satisfied and happy, the company will
be successful in retaining customers and develop a good brand recognition due to positive
consumer feed high chance of retaining the consumer and improving consumer satisfaction.
The company must spend time to give back after consumers experience the service, because a
lot of beneficial information and competitive advantage comes from feedback of consumers.
Because the times are always advancing, Genting must upgrade or develop new service
models, such as giving gifts made exclusively by the company, exclusive experiences limited
to loyal members and new attractions unique to Genting.

The company can invite famous lecturers to hold talks, seminars workshops to upskill
employees and increase capability in work task and performance In addition, Genting can
update its employees’ service rules, removing outdated rules and adding them to the modern
model. Genting can buy a new version or customize its own database, which is not only more
suitable for the company's model and easy to use for all users. Network security is very
important for customers' online payment and security information, so Genting needs to
regularly upgrade and strengthen the company's network security system and company page.
A simple and complete company page and booking system can effectively retain customers
and increase customer satisfaction which increases customer loyalty towards the company.
The income of the service industry is indirectly related to the company's culture, so Genting
needs to maintain an efficient culture within the company and try to eliminate the culture that
is unfavourable to the company. Culture of trust in a company improves employee morale,
understanding of company’s expectations of each employee, code of conduct expected from
employees and better work performance and effectiveness within the company
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