Challenges faced by the Co-operative Bank of Kenya in integrating balanced scorecard in the performance management process.
Macharia, Elizabeth W
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The study aimed at finding out the challenges faced in integrating the balanced scorecard in the performance management process at the Co-operative Bank of Kenya Limited. The primary data was collected through questionnaires distributed to 140 respondents. Data was analyzed using the content and descriptive statistics. Microsoft Excel software packages were used to process the data. From the study, a number of challenges were established which included ensuring that the balanced scorecard measures were reviewed whenever there were fundamental changes in the organization, ensuring that each business unit has its own strategic measures in balanced scorecard that matter most to them and empowering employees to participate effectively in the development and implementation of balanced scorecard. Finally, recommendations to overcome challenges in integrating the balanced scorecard in the performance management are given. Also limitations of the study and suggestions for further research were presented.
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