Balance Scorecard Strategy and Financial Performance of Selected Food and Beverage Industry in Nigeria
Journal Title: Journal of Economics, Finance and Management Studies - Year 2022, Vol 5, Issue 09
Abstract
The study examined the effect of balanced scorecard strategy (learning and growth perspective, customers’ perspective) on the financial performance of five (5)selected food and beverage industry domicile in Lagos State. A survey research design was adopted for this study. One Thousand, five Hundred and Seven (1,057) copies of structured questionnaire were distributed to obtain information from the selected respondents from the companies. And a proportionate stratified sampling technique was used to select Four Hundred and Ten (410) staff for the study. Both descriptive statistics (Table, frequency, Mean Items Score) and inferential statistics (Simple Linear Regression) were adopted as data analysis techniques. While descriptive statistics were used to analyze the demographic information, simple regression analysis was used to test the two stated research hypotheses at a 5% level of significance. The result of hypothesis one (β1 = 0.096; R2= .935; F = 5843.527; P-value =0.000) revealed that the learning and growth perspective in the balanced scorecard has a positive and significant effect on the financial performance of selected food and beverage Industry. In addition, the result of hypothesis two (β1 = 0.071; R2 = .581; F = 567.005; P-value =0.000) indicated that customers' perspective in balanced scorecard has a positive and significant effect on the financial performance of selected food and beverage Industry. The study thereby concluded that a balanced scorecard (measured by learning and growth perspective; customers' perspective) has a significant effect on financial performance of food and beverage Industry. The study recommended that the management of selected food and beverage Industryshould not relent in applying both learning and growth perspectives; and customers' perspectives to further improve financial performance.
Authors and Affiliations
Imeokparia Lawrence, Egboh Vivian
Keywords
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- EP ID EP720419
- DOI 10.47191/jefms/v5-i9-34
- Views 59
- Downloads 0
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