Balance Scorecard and Performance of Money Deposit Bank in Nigeria

Abstract

The balanced scorecard is a premeditated performance management device introduced and invented in the nineties and has received global recognition and employed by firms and has drawn extensive attention from scholars the world over. The objective of this study is to ascertain the effect of Balance Scorecard and firm performance. The target population is composed of all staff working in deposit money banks in Abuja.

The researchers distributed 300 copies of the questionnaire to respondents which comprise top management staff, middle managers and junior staff of selected fifteen quoted deposit money banks. Test and pre-test statistics were performed to estimate the reliability of the instruments. Pearson's Coefficient of values greater or equal to 0.7 was an acceptable indicator of internal consistency. The data collected from the field were analyzed by multivariate regression statistical and descriptive statistics techniques.

The results reveal Growth and learning have a positive impact on organizational performance while customer perspective has a positive relationship with organizational performance; finally, the result revealed customer perspective has no significant relationship with organizational performance. First, recommended that management should focus on employee training and enhancement in order to increase performance. Second, the study recommends that management should focus on customer satisfaction to enhance performance.