Influence of Organizational Change Management on the Organizational Performance of Financial Firms Listed at the Nairobi Stock Exchange

Serah Ngendo Githinji, Jane Munga and Mary Mbithi
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Serah Ngendo Githinji: School of Business and Economics, Kenya Methodist University
Jane Munga: School of Business and Economics, Kenya Methodist University
Mary Mbithi: School of Business and Economics, Kenya Methodist University

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 8, 2460-2470

Abstract: Organizational performance is crucial for financial firms as it directly impacts their profitability, market valuation, and investor confidence. High performance ensures these firms can effectively compete, attract investments, and sustain growth in a dynamic financial market.Despite the importance of high performance, achieving and maintaining optimal levels has been a problem for financial firms at Nairobi Stock Exchange (NSE). This paper sought to examine the influence of organizational change management onorganizational performance of financial firms listed at the Nairobi Stock Exchange (NSE). The study applied a descriptive research design on 23 financial firms listed at NSE as the unit of analysis in the study. The target respondents were 138 top managers of the financial firms. Stratified random sampling technique was applied to sample 102 participants in the study. The study gathered data through questionnaires which were administered both physically and online. Data collected was analyzed through both descriptive and inferential analyses. Results revealed a β of 0.802 and a p-value of 0.001, between organizational change management and organizational performance of firms listed at the NSE. The study concluded that organizational change management had a positive and significant influence on the organizational performance of firms listed at the NSE. The study recommends that financial firms in the NSE should continue to actively involve stakeholders in all steps of change management to maintain a high level of engagement and support. Besides, the study recommends that financial firms listed at the NSE should enhance readiness for change, and regularly conduct comprehensive assessments of readiness and resilience. Moreover, the study recommends that firms listed at the NSE should strengthen stakeholder support mechanisms, ensuring that this involvement remains a core component of change management processes. Finally, the study recommends that financial firms listed at the NSE should implement robust monitoring systems to ensure effective change implementation, allowing for continuous improvement and adaptation.

Date: 2024
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