Justrite Superstores is a Nigerian-owned modern grocery chain retail store with a dominant presence as a neighbourhood retail store in the south-west of Nigeria. The management in their efforts to position the business as a top brand in the areas where they d business and to entrench the culture of performance, contacted Balanced Scorecard West Africa Ltd, on the development of a Balanced Scorecard strategic management system after which a proposal was submitted. The project started with a one-day executive workshop for about 15 senior executives of Justrite to lay the foundation for the BSC system.
This was followed by the review of the existing plan against the balanced scorecard system to identify gaps and properly align it with the BSC system. We also reviewed the report of a recently conducted organization assessment and carried out customer needs analysis & competition analysis of Justrite, and developed the SWOT analysis. We worked with the in-house project team set up by Justrite. Following several brainstorming sessions, we reviewed strategic foundation elements including mission, vision, and core values, and recommended the revised elements and strategic themes and their results to the to Strategic Management Team (SMT) for validation. We developed the enterprise scorecard with all the elements including strategic objectives, performance measures, targets and initiatives, with all the graphics as well as the communication plan that will engender understanding and buy-in across the organization. With the enterprise scorecard developed, we cascaded the strategy to 13 departments to ensure alignment across the organization and make strategy the focus of the entire organization. Justrite now has a well-documented balanced Scorecard.
The Balanced Scorecard provided us with a holistic, 360-degree perspective on performance management. It enabled us to balance our pursuit of financial targets with a deep understanding of customer needs, effective staff integration, and process improvement. The clear guidelines are provided. by the Balanced Scorecard framework facilitated the establishment of a more effective performance management system.
Head of Strategy and Growth, Mr. Soysal Sinan
