Application of the Balanced Scorecard on Change Management and Performance of Commercial Banks Listed in the Nairobi Securities Exchange

Abstract

This investigation was motivated by the need to establish what effects the balanced scorecard had in change management and performance of NSE listed Commercial Banks in Kenya. The investigation utilized a descriptive cross-sectional survey so as to determine the use of balanced scorecard as a strategic tool and its impact on management of change and the performance of these financial firms. The target population of the research incorporated all the eleven (11) commercial banks listed in the Nairobi Securities exchange. The data used for the study is primary data, which was gathered by a semi- organized questionnaire. The respondents included operations managers and also representatives from the top management of the banks utilizing a drop and pick-later technique. Examination of data was done by use of descriptive statistics as well as regression analysis. The investigation found that the balanced scorecard assumed a major part in overseeing and monitoring change which thus means better execution. The study along these lines suggests that every single commercial bank ought to constantly emphasize application of the balanced scorecard perspectives amid change process and management with a specific end goal to track performance and measure it against the preset objectives. This will empower them to stay relevant in their particular operations as well as to the regularly evolving business environment. The findings of the study will serve to improve the Theory of the Balance Scorecard as a tool for performance measurement by laying out critical insights on the fundamental principles that were assessed on, concerning its application in these business banks. The examination proposes that further research studies should be possible to decide the part of adjusted scorecard in the key administration process in order to pick up a comprehension of the utilization of the device amid change administration as well as in the whole procedure of key arranging and administration