I. THE PROBLEM AND ITS BACKGROUND
Performance evaluation had evolved throughout the years and with the complexities of the firm’s operations, evaluating performance should use several measures and focus on both financial and nonfinancial aspects in order to be more reliable and be more effective. A balanced score card approach consist of an integrated system of performance measures that are derived from and support the company’s strategy. Different companies will have different scorecards because they have different strategies. A well-constructed balanced scorecard provides a means for guiding the company and also provides feedback concerning the effectiveness of the company’s strategy. (Cabrera 2011) The balanced scorecard emphasized the importance of using multiple measures to provide a balanced perspective of firms’ performance, and established one of the most salient features of balanced scorecards: the grouping of measures into four distinct categories of performance (financial, customer, internal processes, and learning and growth). Scorecard proponents have shifted their emphasis from balance to the strategy, arguing that the scorecard serves as a tool for defining strategic objectives and communicating them throughout the organization, identifying initiatives to achieve those objectives, and evaluating whether those objectives have been achieved. (Kaplan and Norton 1992).
Background of the Problem
Located on L5B Commonwealth Avenue Old Balara in the heart of Quezon City, Toyota Commonwealth Inc. is an authorized dealer of Toyota Motors Philippines that combines a wide selection of brand new Toyota cars with friendly and professional service. Toyota Commonwealth Inc. has a wide range of vehicles to choose from, all of which are available through cash, leasing or bank financing installments. Toyota Commonwealth Inc. only employs highly trained personnel and operates a world class service facility to accommodate your Toyota vehicle's service maintenance and parts needs. With its mission to be driven by the will to serve, they commit themselves: To dominate our markets through dynamic selling and timely delivery of attractive products, with excellent customer service and continuous product improvement. They aim to produce vehicles and components of outstanding quality, using advanced technology, continuously improving methods and environment-friendly processes while maintaining safe working conditions and to sustain company profitability, stability, productivity and growth by efficiently engaging in effective financial and resource management for the collective gain of the Toyota Family and the society they serve. To sustain Team Members’ morale and productivity by developing their full potential and total well-being, and by establishing mutual trust, mutual responsibility, and harmony through open communication. With their stated goal and mission, we will conduct an evaluation of their performance in achieving their vision and meeting their goals by using the different components of the balanced scorecard so we can put into consideration the financial and nonfinancial aspects of the company.
Statement of the Problem
This thesis aims to contribute positively increasing knowledge base of this industry in the Philippines by identifying and depicting the main managerial competencies of Toyota Commonwealth Inc. The primary purpose of this project is thus to help characterize the principal performance qualities of Toyota through a structured analysis on their managerial data and by focusing on the core developments which are relevant actions to increase efficiency in marketing, sales and after-sales. This dissertation, focused on the Evaluation of Performances of Toyota Commonwealth Inc., aims: Major Problem
To identify the existing level of performance of Toyota by characterizing its current cost of operation and...
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