Relationship Between Benchmarking and Performance: a Case Study of Barclays Bank of Kenya
This study examined the relationship between benchmarking and performance at Barclays Bank of Kenya. Primary data was collected by use of a questionnaire. A sample of 50 respondents was used out of which 37 responded. The data was analyzed using descriptive and inferential statatistics. The correlation analysis showed that prior experience with benchmarking; the commitment of the organization to benchmark, and internal preliminary competitive analysis had high association with benchmarking. This is in line with literature of Adam (2004) as found on page 9 of this project. This finding also show that indeed performance is related to benchmarking and the relationship is positive, that is, the more you benchmark the higher your performance increases. This relationship is shown by the adjusted r2 = 0.88. This explains a high significance of the model as 88% of the variation in performance is accounted for by the estimated sample regression that uses benchmarking technique. This research therefore found that for banks to achieve improved profitability, good return on assets, increased customer satisfaction, decreased costs, increased productivity, increased market share, and enhanced competitive advantage, it is essential that they pursue the benchmarking technique.
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