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    Assignment ON Balance Scorecard of Toyota: Submitted To: Submitted by

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    chani
    Toyota uses a balanced scorecard to measure performance across four key perspectives: customer, internal processes, learning and growth, and financial. For each perspective, Toyota establishes strategic objectives and measurements. For example, for customers Toyota aims to regain trust and establish a global brand leader position, measuring brand trustworthiness and satisfaction. Internally, Toyota aims to strengthen systems and product development, measuring new product revenue and customer satisfaction. Toyota's balanced scorecard provides a framework to track and improve performance across its business to achieve its vision of being the most successful car company in America.

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    Assignment ON Balance Scorecard of Toyota: Submitted To: Submitted by

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    chani
    4K views5 pages
    Toyota uses a balanced scorecard to measure performance across four key perspectives: customer, internal processes, learning and growth, and financial. For each perspective, Toyota establishes strategic objectives and measurements. For example, for customers Toyota aims to regain trust and establish a global brand leader position, measuring brand trustworthiness and satisfaction. Internally, Toyota aims to strengthen systems and product development, measuring new product revenue and customer satisfaction. Toyota's balanced scorecard provides a framework to track and improve performance across its business to achieve its vision of being the most successful car company in America.

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    Balance scorecard of Toyota of supply chain management

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    Balance Scorecard of Toyota

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    Toyota uses a balanced scorecard to measure performance across four key perspectives: customer, internal processes, learning and growth, and financial. For each perspective, Toyota establishes strategic objectives and measurements. For example, for customers Toyota aims to regain trust and establish a global brand leader position, measuring brand trustworthiness and satisfaction. Internally, Toyota aims to strengthen systems and product development, measuring new product revenue and customer satisfaction. Toyota's balanced scorecard provides a framework to track and improve performance across its business to achieve its vision of being the most successful car company in America.

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    Download as docx, pdf, or txt
    4K views5 pages

    Assignment ON Balance Scorecard of Toyota: Submitted To: Submitted by

    Uploaded by

    chani
    Toyota uses a balanced scorecard to measure performance across four key perspectives: customer, internal processes, learning and growth, and financial. For each perspective, Toyota establishes strategic objectives and measurements. For example, for customers Toyota aims to regain trust and establish a global brand leader position, measuring brand trustworthiness and satisfaction. Internally, Toyota aims to strengthen systems and product development, measuring new product revenue and customer satisfaction. Toyota's balanced scorecard provides a framework to track and improve performance across its business to achieve its vision of being the most successful car company in America.

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    of 5

    ASSIGNMENT

    ON
    BALANCE SCORECARD
    OF TOYOTA

    SUBMITTED TO: SUBMITTED BY:


    Katrina Daaca Charanjeetpal Singh Chahal
    Student Id - 00000166692
    Balance scorecard of Toyota: A balanced scorecard is a strategic management performance

    metric used to identify and improve various internal business functions and their resulting

    external outcomes. Balanced scorecards are used to measure and provide feedback to

    organizations.

    The balanced scorecard is used to attain objectives, measurements, initiatives, and goals that

    result from these four primary functions of a business. The four perspectives of the balanced

    scorecard – customer perspective, internal perspective, innovation and learning perspective, and

    financial perspective.

    1) CUSTOMER PERSPECTIVE: This measure market shares and customer satisfaction.

    The main objective is to ensure customer loyalty and lifetime value. To ensure that the

    objective is meeting the customer’s perception of services, appropriateness of the target

    market, and customers purchase pattern will be evaluated virtually. Thus, Toyota can use

    this strategy to increase customer trust and loyalty.

    2) INTERNAL PERSPECTIVE: This includes friendly user interfaces, powerful software

    architecture, and effectiveness of the distribution system. This critical analysis of the

    human resources department, information technology and distribution medium. Thus, this

    perspective evaluates the efficiency and effectiveness of all the business process involved

    and enhances them for better customer satisfaction.

    3) LEARNING AND GROWTH PERSPECTIVE: This is designed to measure the

    effectiveness and speed of innovation and creativity in Toyota, compared to that of their

    competitors. Innovation is still a necessity to offer more secured product and services to

    their customers; while increasing sales and market shares.


    4) FINANCIAL PERSPECTIVES: Financial perspective is mainly used to measure the

    return on all investment.

    BALANCE SCORECARD OF TOYOTA


    Vision: To be the most successful and respected car company in America
    Mission: “To attract and attain customers with high-value products and services and the
    most satisfying ownership experience in America.”
    Strategic Public Environmental Innovation Social Infrastructure
    Themes: Safety Sustainability
    Strategic Objectives Strategic Measurements
    Initiatives
    Lag Indicators Lead Indicators
    1) Financial
    Increase Profitability Profit margin Mix revenue Reach out to the lowest
    growth segments and analyze the
    downfalls, projected
    Increase sales on Participation on Marketing earnings if sales and
    emerging markets emerging Investment production were high
    markets
    Sustainable financial Cash flow
    growth
    2) Customer

    Regain customer's trust Brand Overall customer Create metrics for


    Trustworthiness satisfaction consumer notoriety and
    Establish a worldwide Brand Marketing like ability of brand, create
    brand leader Recognition investment new ads

    Improve communication Less response of


    channels and feedback customers to
    feedback
    Ethical approach towards
    customers
    3) Internal Process
    To strengthen the New Product Increase the Improve efficiency and
    internal systems revenue employee training effectiveness
    Improve product Customer Time to get the
    development process satisfaction product to the
    market
    Increase research and
    development results with
    sustainable products
    Innovative products

    4) Learning and Growth


    Respond quickly to Employee Objectives to Create customer service
    market quality issues improvement achieve rewards and goals to
    from the customer improve new customer
    perspective service practices, create
    Empowerment Employee Teamwork performance rewards for
    satisfaction rewards employees who reach out
    Improve employee to different organization
    recognition
    Training programs to
    improve employee's
    abilities
    Toyota Strategy Roadmap

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