| dc.description.abstract | Strategy implementation: - Strategy implementation is ‘where the action is’ and is a
process concerned with allocating resources to support the chosen strategies. This process
includes the various management activities that are necessary to put strategy in motion,
institute strategic controls that monitor progress, and ultimately achieve organizational
goals. To effectively direct and control the use of the firm's resources, mechanisms such
as organizational structure, information systems, leadership styles, assignment of key
managers, budgeting, rewards, and control systems are essential strategy implementation
ingredients. It is important to set up strategic controls to deal with the important steering
function during the implementation process. The balance score card approach is essential
in integrating strategic and operational control.
The balance score card: - The balance score card is an approach linking operational and
strategic control, developed by Harvard Business School professors Robert Kaplan and
David Norton. It is a performance management tool that enables an organization to
translate its vision and strategy into a tangible set of performance measures. However, it
is more than a measuring device. The scorecard provides an enterprise view of an
organization’s overall performance by integrating financial measures with other key
performance indicators around customer perspectives, internal business processes, and
organizational growth, learning and innovation. Ernst & Young-Kenya: - Ernst & Young, is one of the big four auditing firms both
worldwide and in Kenya. Auditing firms in Kenya are consultancy organizations
managed and run by Certified Public Accountants of Kenya.
The research project focused on the challenges of the balanced score card in strategy
implementation and was a case study on Ernst & Young-Kenya, an auditing and
consultancy firm. Challenges of balanced score card in strategy implementation: The ability to
implement strategies successfully is important to any organization. Despite the
importance of the implementation process within strategic management, this is an area of
study often overshadowed by a focus on the strategy formulation process. The
implementation of the balanced score card do pose some challenges to organizations
including leadership, managerial style and bias, poor organizational structures and
communication challenges. The study aimed at finding out how Ernst & Young-Kenya,
has applied the balanced score card in strategy implementation across the business and
the challenges faced in the application of the balanced score card. The study was
presented in five chapters and sections through which the researcher has tried to discuss
the above issues. Data collection instrument was an interview guide and observation. 40
respondents were drawn from all levels and functions of the organization. Out of the 40
only 25 were interviewed and responses analysed by using content analysis. The study
established that Ernst & Young-Kenya has used the balanced score card to implement its
strategies. From the study, a number of challenges were established. The findings of the
study should be understood and evaluated in light of the limitations of the study. This
study is especially helpful to Ernst & Young-Kenya, Ernst & Young Global and other
similar organizations. Institutional policy and practice recommendations to overcome the
challenges of strategy implementation using the balanced score card are highlighted.
Suggestions for further research are also given. | en |
