The objectives of the financial perspective of Genting Malaysia Berhad in the balanced

scorecard is to find ways to increase the company's revenue, increase the company's
profit and reduce unnecessary expenses, to alleviate and solve the company's losses caused
by the epidemic and refurbished facilities. Through the 2016-2019 annual report of Genting
Malaysia Berhad, we can know that Genting Malaysia Berhad's leisure and entertainment and
hotel companies have greatly reduced their income due to the epidemic 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. In 2020, the world is facing a major epidemic threat, and
the national economy is facing a serious threat. Major companies are also facing economic
problems, reduced income, and even bankruptcy. Genting has spent a lot of cost on
refurbishing the facilities due to the refurbishment of outdoor recreational facilities, and this
period of renovation has seriously affected the company's revenue. If you do not reduce
expenses in other areas, the company's income and expenses will continue to fall into a loss
situation. The benchmark for cost reduction is to increase profit margins, which is the most
sought-after advantage. (Hitesh, 2019)
The objectives of Genting's customer perspective program in this BSC is to attract
new consumers, keep loyal consumers, increase consumer confidence in us, 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 or even losses. But fortunately, in 2019, the company knew the
seriousness of the problem and used various promotional programs to increase the company's
revenue and increase the company's market share. What people did not expect was that the
outbreak of the epidemic at the end of 2019 would severely affect leisure, entertainment, and
hotel companies across the country, and Genting is no exception. If the old consumers
remain, Genting will not be able to increase the company's revenue. So Genting now needs to
add new consumers, but at the same time, Genting also needs to ensure consumer satisfaction
to ensure the company's reputation and consumer loyalty.
On the other hand, 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 go out. Consumers are suppressing their moods for a long time, and the quality of service
experience is the key to keeping customers. 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. Customer
experience is the main source of income for the service industry. Genting must improve the
customer access system and modify it into the ideal system for customers. Not only can
consumers know that they are still valued and cared about consumption, but also help to
enhance 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. Teamwork and knowledge management. In Genting Malaysia Berhad, the skills of
all internal personnel need to be strictly required. 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).
 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. If
the set of performance measures focused on are wrong it can reduce the effectiveness of
organizational learning, and lead to a reduction in employees’ motivation, satisfaction and
quality of work.

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 or by reducing both fixed and variable costs this target can be achieved. The
customer orientation perspective evaluates the performance of the business from the
viewpoint of internal business users. This customer orientated approach is important because
the customer are determining the quality of the products and services offered by the
company. 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. Genting will look to increase their marketing and advertising
efforts, attract members to join in loyalty programs and increase overall customer
satisfaction.

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 has the
objectives to provide organizational learning and development, and their measurement 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 and motivating culture within the company.

Because of the renovation of Genting's outdoor entertainment, the company can spend its
efforts to increase indoor entertainment facilities or services, so that consumers will not
refuse to go to the company for consumption because they do not participate in 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 has
cooperation with other companies in the industry. Genting can calculate or stop some
cooperation that does not benefit the company, such as leases of land and facilities.

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 must fulfil all its promises to consumers and obtain consumer satisfaction. Genting
can also 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. If the service
makes the consumer impressed, satisfied or happy, it will have a 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 or competitive
advantage comes from the feedback of consumers. Because the times are always advancing,
Genting must upgrade or develop new service models, such as giving limited-edition gifts
made by the company, or delivering consumers to the company's door-to-door service.

The company can ask famous lecturers to hold talks about improving employees' talents and
improving their ability to face emergencies. In addition, the company can also update its
employees’ service rules, removing outdated rules and adding them to the modern model.
Genting can buy a new version of the database system or customize its own database, which
is not only more suitable for the company's model, but also convenient for employees or
customers to use. 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. Not only customers can use Genting's page to
book services or book rooms more assured and simple. A simple and complete company page
can effectively retain customers and increase the company's satisfaction and loyalty. 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. The introduction of culture of trust is a method for the
organization of the entire company. It not only improves employee morale, but also allows
employees to believe in the company's expectations of them. After employees are trusted,
they will work harder and use a good attitude to face the work and consumers.
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