The Effect of Strategic Planning on Small and Medium Enterprises Performance in Eastleigh-Nairobi [MBA Thesis] PDF Download

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Languages : en
Pages : 72

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Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 60

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Book Description
The general objective of the study was to examine the application of strategic planning tools and concepts in small and Micro enterprises (SMEs) in Nairobi CBD. The study was guided by the following objectives: to examine the various strategic planning tools and concepts adopted by SMEs in Nairobi CBD, to analyze the challenges faced by SMEs in Nairobi CBD in the application of strategic planning tools and concepts and to establish how the application of strategic planning tools and concepts affects SMEs in Nairobi CBD. Descriptive research design was employed in the study. The population under study was 1000 micro enterprises in Nairobi CBD. The random sampling technique was used to determine the sample size because of the heterogeneity of the population and to facilitate high response rate. The sample size was 300 respondents, out of which 60 percent responded. The data was analyzed using with the help of the statistical package for social sciences (SPSS). The analyzed data was thereafter presented in form of tables and charts. It was revealed from the study that the most commonly used techniques are financial analysis for own business, SWOT analysis, PEST analysis as well as Porter?s five forces all having a mean of more than 4.00. The results show moderate use of techniques such as: financial analysis for competitors, experience curve analysis, human resource analysis, spreadsheet ?what if? analysis as well as analysis of key (critical) success factors. The results show less focus on techniques such as scenario construction, core capability analysis, value chain analysis, stakeholder analysis and analysis of organisational culture by SMEs operating in Nairobi. In the light of findings the study concludes with regards to the challenges faced by SMEs in the application of strategic planning tools and concepts revealed that the process of applying strategic planning tools and concepts was faced with the following challenges: Lack of Effective Communication (100%), lack of education and training on how to use them (81%), employee competency prevented the application of the tools (70%), organization Structure in the usage of tools, lack of employee empowerment (68.3%), resistance to change leading to lack of adoption of new ways (91%), lack of direction by top leadership (70%), lack of long term view of the business, failure to see how the tools could be beneficial (80%), general short-termism view of the business (70%), inadequate finances and finally (79%), seeing planning as a waste of time (90.7%). Finally the regression analysis revealed that there was a direct positive relationship between strategic planning techniques and tools and SME performance (.519). This finding indeed indicates that performance of SMEs in Kenya is influenced by the use of strategic planning techniques and tools. The study recommends that it is important that scanning should also include a focus on internal strategic factors. Secondly, SMEs should make use of important strategic planning tools and techniques such as scenario construction and analysis of organisational culture. Techniques such as scenario construction could be useful to SMEs work in a highly unpredictable environment. The use of this technique could provide these SMEs with an approach to flexible planning by developing several alternative views of the future. The study further recommends the need for SMEs to find out reasons for the negative attitudes towards strategic planning by some employee; perhaps via the use of interviews. Further there is needed to find out the nature of the problems which restricted the effectiveness of the implementation of SMEs strategy planning tools and concepts. Finally the study recommends that the managers of these SMEs should have a positive attitude to strategic planning and make an effort to use strategic planning tools and techniques they consider that the implementation of strategy in their SMEs is not effective. Strategy implementation is the most difficult and important part of strategic management. No matter how superior the formulated strategy is, an SME will not benefit if it is implemented incorrectly.

Author: Abena Pokuaa Ackah PhD
Publisher: IPR Journals and Book Publishers
ISBN: 9914966330
Category : Business & Economics
Languages : en
Pages : 125

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The Core Determinants of Effective Strategy Implementation: The Case of Rural and Community Banks in Ghana Effects of Operational Strategies on Performance of Commercial Banks in Makueni County, Kenya Determinants of Strategic Plan Implementation in Public Secondary Schools in Katulani Sub-County, Kitui County Relationship Between Business Development Services and Growth of Small and Medium Enterprises in Kenya Business Process Reengineering and Service Delivery in Huduma Centers in Kenya

Author: Lillian Karambu Baariu, Dr. Priscilla Wambui Muhoro, Muiruri Edward Maina, Calvince Odhiambo Ojuando, Boniface Mworia Waweru
Publisher: Cari Journals USA LLC
ISBN: 9914746764
Category : Business & Economics
Languages : en
Pages : 120

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TOPICS IN THE BOOK Influence of Strategic Change Management on the Performance of County Development Projects in Meru County, Kenya Effect of Integrated Ticketing on Sustainable Mobility in the Matatu Saccos in Nairobi County, Kenya Influence of Financial Capabilities on Competitiveness of Food and Beverage Manufacturing Firms in Kenya Strategic Adoption of Corporate Social Responsibility on Performance of Plastic Manufacturing Firms in Kenya Effect of Customer Relationship Management Strategies on Performance of Medium Enterprises

Author: Udeme Usanga
Publisher: GRIN Verlag
ISBN: 334693313X
Category : Business & Economics
Languages : en
Pages : 59

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Academic Paper from the year 2021 in the subject Business economics - Business Management, Corporate Governance, , course: Management Sciences, language: English, abstract: This study examined the impact of strategic management on SMEs performance in South-east Nigeria. A survey of 398 respondents were randomly selected from Small and Medium Enterprises (SMEs) that registered with the Ministry of Commerce and Industry in Abia, Anambra, Ebonyi, Enugu and Imo States were used for the study. Well-structured questionnaire was use for collection of data from respondents. Hypotheses were formulated and data analysis was performed with the using Frequencies, Percentages, and Regression Analysis. Result reveals that majority of respondents are male (57%), married (69%), with Secondary education (45%), with household size of 6-10 Persons (45%), with SME experience between 6 – 10 years (35.68%). Majority of enterprises in the study area were small –sized businesses (51.5%), providing services (65%), with fixed assets in buildings/factories including machinery/equipment worth N2 – 5 million (26%), current asset base of cash/draft at Banks and inventory/raw materials worth N2 – 5 million (31%), with human capital asset (number of employees) of 1 – 5 workers (51.5%) and number of branches (88%). About 96.5% did not apply any of the management strategy practices in their operations. Details of the results on the effects of strategic management practices on SMEs’ Performance further showed an average mean of 4.19. The R2 of 74% of the variation in the dependent variable “employee training and job satisfaction is caused by the explanatory variable “Planning and Organizational Structure, with a probability value (t-cal = 34.014); environmental analysis strategy and resource allocation on market share (92%) with t-cal (66.76), implementation strategy and Customer Satisfaction (99%) t-cal = (165.015). The R2 of .860, about 84% of the variation in the dependent variable, Sales Revenue/Profitability by evaluation strategy with regression result, (t-cal = 49.496) indicate a positive effect. Based on the findings, the study concluded that the strategic planning process has not been fully implemented by SMEs operators in the South-east Region of Nigeria. The study therefore recommends that SMEs operators/managers should be motivated to align their performance to the planned goals in their strategic plan. If these elements are consciously integrated into SME business plans and judiciously implemented, there would be a stimulating effect on the overall performance of these enterprises; thus triggering growth, profit and sustainability.

Author: David Arnold Curtis
Publisher: Free Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 224

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Author: Nelly Jebet Barno
Publisher: IPR Journals and Book Publishers
ISBN: 9914752845
Category : Business & Economics
Languages : en
Pages : 182

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TOPICS IN THE BOOK Effect of Agile Strategies on Performance of Commercial Banks in Kenya The Influence of Strategic Training on Employee Performance in the Public Sector in Kenya: A Case Study of the Kenya Copyright Board Factors Influencing Strategy Implementation in State Corporations in Kenya: A Case of Council of Legal Education Effects of Strategic Planning on the Financial Performance of Small Information and Communication Technology (ICT) Firms in Nairobi City County Influence of Project Risk Management Practices on Performance of Telecommunication Network Modernisation Projects in Kenya

Author: Niwagaba Hubert
Publisher: IPR Journals and Book Publishers
ISBN: 9914752861
Category : Business & Economics
Languages : en
Pages : 87

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TOPICS IN THE BOOK Influence of Monitoring and Evaluation Planning on Project Performance in Rwanda: A Case of Selected Non Governmental Organisations in Gasabo District Influence of Trust and Transparency on Performance of Pharmaceutical Firms in Kenya Influence of Intellectual Stimulation on the Performance of Commercial Banks in Kenya Critical Success Factors For Effective Strategic Planning in Non-Governmental Organizations in Nairobi, Kenya

Author: Azhdar Karami
Publisher: Routledge
ISBN: 1317049330
Category : Business & Economics
Languages : en
Pages : 225

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Book Description
This book is concerned with strategy formulation issues in the relatively neglected field of entrepreneurial firms. It raises questions, such as what is the strategic role of entrepreneurship in small businesses? How does the top management in small firms perceive the processes associated with strategy formulation? How are business strategies formulated and implemented in SMEs and importantly, are there lessons that can be learnt by large corporations from the smaller ones? Using a sample covering a wide range of entrepreneurial firms in the UK, the author addresses the lack of strategic thinking in the management of small firms and provides recommendations for effective strategic management processes.

Author: Todorov, Kiril
Publisher: IGI Global
ISBN: 1466659637
Category : Business & Economics
Languages : en
Pages : 538

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Book Description
As the global economy continues to develop and new entrepreneurs take advantage of emerging markets, the small business sector plays a greater role of economic development in the international arena. The Handbook of Research on Strategic Management in Small and Medium Enterprises contributes new research to the current array of literature on small business management under diverse geographic, economic, and socio-cultural conditions. By exploring existing theories in tandem with fresh viewpoints, this book will serve as a valuable reference to students, lecturers, researchers, entrepreneurs, and policy makers investigating the use of strategic management in various scenarios and situations.