Measuring Performance of Minor Event Management Ventures in Kenya

Abstract

This paper examines indicators that measure performance in minor event management ventures (EMVs). This study enhances understanding of performance of minor EMVs and contributes significantly to literature on performance measurement by providing empirical knowledge. 271 entrepreneurs formed the sample for the study which employed descriptive research design. Census sampling was used where all the entrepreneurs in Kisumu, Nairobi and Uasin Gishu counties in Kenya were included in the study. Data was collected using structured questionnaires. Reliability of the indicators was tested using Cronbach’s alpha. Exploratory factor analysis grouped the constructs into two components namely financial and non-financial. Confirmatory factor analysis was used to measure the extent to which the observed variables (Financial and Non-financial) explain the unobserved variable (performance). The results showed that both variables adequately explained performance of event management ventures. The study concluded that the balanced scorecard was not suitable in measuring performance of EMVs.

Key Words: Event Management, Kenya, Measurement, Performance, Ventures