Balanced scorecard as a strategy implementation tool at Toyota east Africa limited
The balanced scorecard is a performance measurement and strategic management tool that translates an organization's mission and strategy into a balanced set of integrated performance measures. The purposes of the balanced scorecard are to guide, control and challenge an entire organization towards realizing a shared conception of the future. This study sought to determine the use of balance scorecard as a strategy implementation tool and determine the challenges of implementing the balanced scorecard at Toyota East Africa Limited. The study used a case study since the unit of analysis was one organization. Primary data was collected using an interview guide while secondary data was collected through desk research. Content analysis and descriptive analysis were employed in data analysis. The content analysis was used to analyze the interviewees’ views about the effectiveness of a balance score card as strategy implementation tool. The study further revealed that the stages of BSC implementation process at Toyota East Africa Limited include organizational BSC, divisional BSC, departmental BSC and then the individual BSC. The study also deduced that for successful implementation of the balanced scorecard, everyone must be involved and must understand the meaning and objectives, all the quadrants in BSC should be balanced, there should be well defined KPIs that are aligned to each other and staff training. The study recommends that for successful implementation of the balanced scorecard, everyone must be involved and must understand the meaning and objectives, all the stages must be aligned towards achieving the organizational objectives, all the quadrants in BSC should be balanced, there should be clear understanding of the business, objectives should be built around company strategy, there should be well defined KPIs that are aligned to each other and staff training.
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