Cheng & Co’s all new branch in Taiping, Perak conducted its first ever Balanced Scorecard (BSC) sharing session on 16 October 2017. This is the first of many steps taken by Cheng & Co to slowly but surely establish the Taiping branch as a top 10 firm in the state of Perak. The branch is headed by one of Cheng & Co’s talented staff Albert Tan, which is a testament to the growth and career development prospects of young employees in the firm.
The Balanced Scorecard
BSC is a strategic management tool to help achieve synergies throughout an organisation and enable the translation of its vision, mission and strategies into tangible and measurable action plans. It uses data analysis to achieve results such as enhanced performances of employees, increased cost efficiencies, and improved client satisfaction to accomplish an organisation’s goals and individual KPIs.
The four-hour workshop session turned out to be an enlightening one for all employees of the branch, out of which two have served the firm for more than 28 years. Everyone went home happy having gained essential insights on one of the most important performance measurement tools that revolutionised what was previously a more conventional approach where performance metrics are concerned.
Cheng & Co’s Managing Partner Professor Dato’ Dr Chua Hock Hoo who – together with his father – attended his niece’s wedding the night before, dropped by for the BSC sharing session on their way back to Kuala Lumpur. It was indeed great to see the enthusiastic participation of Professor Dato’ Dr Chua’s 90-year-old father at the session. He also took the opportunity to visit the famous Taiping zoo with the assistance of Taiping Branch employee, Safri.
Back in May 2017, Cheng & Co officially completed the merger and acquisition of accountancy firm Ng Yoke Weng & Co and it became the firm’s Taiping branch. This is a continuation of Cheng & Co’s progressive growth strategy in pursuit of greater business expansion and opportunities which, in turn, will increase the presence of the firm throughout Malaysia and the array of professional services that it provides.
Much gratitude and appreciation to Albert and Cheng & Co’s Director of Human Resources Alex Kang who organised this successful BSC sharing session at such short notice.
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