| dc.description.abstract | This study aims at establishing how the Balanced Scorecard as a Performance
Measurement tool was implemented at Stanbic Bank, Kenya. The Balanced Scorecard is
a new Management technique for measuring business performance by applying the
financial as well as non-financial performance measures. It is an improvement over the
traditional performance measurement technique, which only recognised the financial
measures. However, in Kenya the concept is still new and most organizations still don't
even know about it, while most of those who have heard about it still do not have
adequate information on how it can be implemented and its effects.
The study reported here was conducted in the months of August and September 2002
using a case study ofStanbic Bank Kenya. The objectives of the study were to find out-
• How the Balanced Scorecard technique was communicated to the employees of
Stanbic Bank, Kenya.
• The process (key activities) and strategies used by the Bank to implement the
Balanced Scorecard System and
• The experiences and the perception of the employees on the implementation of the
Balanced Scorecard System.
The data was collected through two sets of questionnaires (one completed by the leader
of the implementation team and the other completed by the unionisable staff
representative). A structured interview schedule was also used. The data was then
analyzed through content analysis, comparing the data from the three data collection
instruments. A summary and conclusion was then drawn after discussing the research
findings.
From the study, it was established that Stanbic Bank had systematically undertaken
specific steps in implementing the system. Effective communication of the concept to the
employees was a key activity in the pre-implementation stage. It was also established
that at the initial stages of implementing the system, most of the Bank's employees were
skeptical about the system. The Bank has in this respect put in place certain strategies in
order to positively change the attitude, increase awareness and facilitate acceptance of
the system among the employees. Such strategies include; training and coaching,
creating commitment at the top, linking the new systems with effective compensation or
reward program, and breaking down of organizational barriers.
In his conclusion, the researcher outlines recommendations for effective implementation
of the system. The researcher also recognizes the limitations of the study and suggests
areas of further research. | en |
