FARM, AN ALTERNATIVE PERFORMANCE MEASUREMENT OF STRATEGIC FORMULATION FRAMEWORK FOR STUDENT ORGANIZATIONS

In a student organization, the designation and the service continuity of ExCo members are mainly determined by subjective voting. On campus, many of these organizations are lack of an objective measurement linking performance to re-appointment while Balanced Scorecard provides the performance measurement in need. We applied inductive reasoning with a qualitative approach, focus groups, to explore alternative perspectives specified for these student organizations. Beyond a reasonable doubt, no participants in the focus groups had an attempt or a reason to whittle the proposed perspectives down, we then accept FARM (Financial, Activities, Reputation and Memberships) as the new performance criteria for the students to vote or not to vote. Most likely, FARM could be generalized to other nonprofit making organizations.