Influence of Product changes and performance of commercial banks in Nairobi County, Kenya
DOI:
https://doi.org/10.31695/IJASRE.2022.8.5.3Keywords:
Product Change, Performance,, Strategic managementAbstract
The business environment within which the commercial banks operate has been very volatile. Further, social reforms, political anxieties, technological advancements, competition from new entrants and effects of globalization are some of the challenges that have caused this volatility, and have greatly affected the performance in this sector. The general objective of this study was to investigate the influence of product changes and performance of commercial banks in Nairobi County in Kenya. A descriptive research design was adopted in this study. All management persons or their equivalents in all branches of commercial banks in Nairobi County were the target respondent. All of the commercial banks have a total of 126 managerial personnel. Closed-ended questions were used to acquire primary data. The study instrument was pre-tested to guarantee its validity and reliability. The data was analyzed using descriptive statistics such as frequencies and percentages. The study discovered that product modifications have an impact on commercial bank performance.
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