BALANCED SCORECARD AND ORGANISATIONAL PERFORMANCE IN SELECTED BANKS IN ANAMBRA STATE

Oluwarantimi Bunmi Meduoye, Assoc. Prof. Stella Ifeyinwa Mbah

Abstract


Balanced scorecard is a result sheet or report card. It reports activity and overall result as a snapshot. We sought to present in empirical terms how the adoption of balanced scorecard will positively boost banks’ performance using the four perspectives of a typical balanced scorecard namely: financial, customer, internal processes and learning and growth. We attempted to establish how balanced scorecard perspectives affect organisational performance. We adopted stakeholder theory of Freeman as our theoretical framework. Survey method was used as the design for the study. We designed questionnaire, to extract responses from two hundred and twenty-two (222) staff of First Bank of Nigeria Limited, Fidelity Bank Plc and First City Monument Bank Plc in Awka, Anambra State. We used chi square (x2) with pearson correlation co-efficient method to analyse and test hypotheses using SPSS. We concluded that financials, customer experience, internal business processes and learning and growth in balanced scorecard positively impacted the overall organisational performance of banks and recommend, very strongly, that Banks maintain the use of balanced scorecard in their systems particularly at the three tiers, individual, departmental/BU and corporate levels.

Keywords


Balanced scorecard, stakeholder theory, report card, organisational performance, bank, financials, customer experience, internal business processes, and learning and growth.

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