PROPOSED STRATEGIC PLANNING AND PERFORMANCE MANAGEMENT SYSTEM FOR TECH PROM LAB
Advanced material technologies are viewed as stimulus to economic growth, national competitiveness and as an enabler of further technological innovation. Despite this influence, new ventures commercializing advanced materials face challenges in their route from the lab to the market. This challenge...
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| Format: | Theses |
| Language: | Indonesia |
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| Online Access: | https://digilib.itb.ac.id/gdl/view/45779 |
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| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | Advanced material technologies are viewed as stimulus to economic growth, national competitiveness and as an enabler of further technological innovation. Despite this influence, new ventures commercializing advanced materials face challenges in their route from the lab to the market. This challenge grows even further after the company reaching product-market fit. One of the challenges is related to organizational management. There will be organizational development gap between the infrastructure required by the organization and the infrastructure it actually has.
Tech Prom Lab is an advanced material technology venture. Founded by researchers in advance material processing laboratory, its first product is PoreBlock, a pervious concrete made from waste. They started at the end of 2017 and already sold their product to the market for nine months before this research started. The company consisted of seven people and just recently had restructuration to change their organizational structure and develop new plan to embrace their growth. One challenge that Tech Prom Lab facing in their organizational growth is related to its weak strategic planning and implementation.
This research started with environmental analysis conducted with STP Analysis, Porter’s Five Forces Analysis, Strategic Group Analysis, and PESTEL analysis for its external situation and Resource and Capability Analysis, Value Chain Analysis, Growing Pains Survey, and Holistic Organizational Effectiveness for its internal condition. SWOT analysis summarize results from these analyses and cause-and-effect diagram assess its root cause. The root cause of Tech Prom Lab business issue turned out to be lack of knowledge in strategic planning and performance management.
Strategic planning for Tech Prom Lab then crafted with Organizational Development Framework which resulted in suggestion for Tech Prom Lab’s business concept, positioning, strategic mission, core strategies, key result areas, objectives and goals (lag and lead indicators). This strategy then monitored through a performance management system that combined scorecard developed by Organizational Development Framework and Balanced Scorecard.
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