The Impact of balanced scorecard on financial performance of commercial banks in Zimbabwe. A Case study of Ecobank Zimbabwe
- Author
- Chibondo, Isabel
- Title
- The Impact of balanced scorecard on financial performance of commercial banks in Zimbabwe. A Case study of Ecobank Zimbabwe
- Abstract
- The purpose of this study was to investigate the impact of balanced scorecard on financial performance of commercial banks using a case study of Ecobank Zimbabwe. The research objectives for this study were to determine the extent of utilization of balanced scorecard in the bank, the challenges of using balanced scorecard and the impact of balanced scorecard on financial performance of the bank. This study used the mixed method approach and a descriptive research design and inferential statistics. The target population for this study were 18 employees in the bank. As research tools the interviews and questionnaires were used to collect primary data secondary data was obtained through reports and audited financial statements. The data was analyzed through SPSS version 20 and MS Excel, which are software that accommodate qualitative data analysis. The results concluded that Ecobank Zimbabwe has successfully increased client convenience in terms of usage, which may reflect the bank's dedication to enhancing customer satisfaction and service quality. Additionally, the bank was able to monitor their revenue and optimize their pricing methods to both cover their costs and attract new clients with their products and services. However, the balanced scorecard was found to be associated with challenges which include absence of top management support and challenges in implementing the BSC to evaluate employees’ strengths and weaknesses. The researcher recommended the departments designated to supervise the overall implementation of the BSC system to improve their monitoring of implementation gaps and then address them by planning formal training sessions and awareness-raising events to ensure that all stakeholders are fully aware of BSC and its advantages.
- Date
- June 2024
- Publisher
- BUSE
- Keywords
- Financial performance,
- Commercial banks in Zimbabwe,
- Supervisor
- N/A
- Item sets
- Department of Accountancy