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BUSINESS CONTINUITY PRACTICES AND PERFORMANCE OF COMMERCIAL BANKS IN KENYA: A POST COVID-19 REVIEW
This study sought to examine the effect of business continuity strategies on performance of commercial banks in Kenya. The study was anchored on two theories namely the contingency theory and the institutional theory. The target population for this study is 42 Commercial Banks Kenya. Primary data was collected using self-administered questionnaires. A response of 34 questionnaires were returned yielding a response of 81%. . (How was analysis done?) The regression analysis findings revealed a statistically significant effect of business continuity on organizational performance of commercial banks as shown by significance level of 0.000 which is <0.05. This affirms that the model is statistically fit as an estimator of bank performance. The coefficient of determination (R2) 0.519 value implied that 51.9 % of performance of commercial banks is attributed to business continuity practices namely management support, organizational preparedness, embeddedness to continuity practices and adaptation to external environment. The coefficients output in the regression model show that management support, organizational preparedness, embeddedness to continuity practices and adaptation to external environment have a positive and statistically significant impact on bank performance. The study recommends the need for the top management to continue supporting the business continuity plans through adequate resourcing through purchase of sophisticated risk detection systems and inviting professionals to enlighten the staff on matters to business continuity, constant lookout for information to timely predict and respond to global shocks which is achievable by having a competent team that is able to forecast and simulate scenarios for appropriate action, setting up a business continuity department and keeping an eye to cautious to ensure that the measures blend with our local circumstances do not strain the local systems and resources and ultimately drive performance
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