ADOPTION OF BALANCED SCORECARD WITHIN SMALL GROCERY RETAIL SECTORS

Abstract

The Balanced Scorecard (BSC) is a management model which is being used in different organisations for the improvement of performance. The BSC provides four perspectives through which various measurable goals are established and BSC includes financial and non-financial measures. It is assumed that BSC is commonly used within large organisations and it is much adopted by the small sectors. The aim of this study is to investigate whether the BSC is adopted by the small grocery retail sectors and what are the main issues and challenges for this type of sectors in adopting the BSC model. The result of this research indicates that BSC is not adopted by the small grocery retail sectors and lack of awareness has been considered as one of the most notable issues. Moreover, work load and limited resources has also been informed by those grocery retail managers who are aware of the BSC. Furthermore, this study also found that small grocery retail business managers are focusing to customers and financial perspectives of BSC indirectly. The small retails businesses are depending upon traditional approaches as a management tool even having the knowledge of the BSC model. Neither the BSC nor any other management model is adopted by the grocery retailers.