Company performance analysis based on ISO 9001 compliance using balanced scorecard method in PT. SN Electronics

Abstract

As business competition intensifies, sustainable growth strategies become imperative. With the projected 2030 demand for food and beverages estimated at $194 billion, the need for coolers and freezers rises accordingly. Despite this, PT. SN Electronics faced a 6% sales revenue decline for coolers and freezers in 2020, contrasting with competitors’ growth. Thus, this analysis assesses the company’s performance, particularly its ISO 9001:2015 certification. Our evaluation uses the balanced scorecard method to analyze both financial and non-financial aspects of the company’s performance. The study also examines ISO 9001:2015 compliance and its impact on overall performance. Primary data gathered through interviews and observations involving top management and employees, analyzed with NVivo 12 Plus software. Results indicate strong non-financial performance but underperformance in financial aspects. Nonetheless, the company maintains robust ISO 9001:2015 compliance, positively influencing overall performance. This research underscores the necessity for top management to address financial issues, including price adjustments, while preserving satisfactory non-financial performance. This pioneering research integrates ISO 9001:2015 compliance with the balanced scorecard method, a novel approach. The findings reaffirm ISO 9001:2015’s significant role in enhancing company performance, aligning with its seven management principles.