STRATEGIC MANAGEMENT PRACTICES AND PERFORMANCE OF SACCO’S IN THE COUNTY GOVERNMENT OF KAKAMEGA, KENYA
Abstract
This study sought to establish the influence of strategic management practices on performance of SACCO’s in County Government of Kakamega, Kenya. The study was grounded on the Resource dependency theory and The Delta Theory. The study adopted descriptive research design. The population comprised seven SACCOs societies in County Government of Kakamega, licensed by SACCO Societies Regulatory Authority for period ending 31st December, 2019. The unit of observation was top management staffs (manager and assistant manager) from human resource department, finance department, sales and marketing department, and public relation department. Hence, the study target population was 56 respondents. The study adopted purposive sampling technique because the top management staffs were key informants as a result of their personal skills and position within the organization. Primary data was collected using structured questionnaire presented in Likert scale. The data was analyzed using frequency, mean and percentages. Correlation and regression was also be used. The study findings revealed that strategy evaluation and strategy formulation had a positive and significant influence on performance of Sacco’s in County Government of Kakamega, Kenya. The study recommended that in order for SACCO’s in County government Kakamega to continue enjoying huge customer loyalty and increased market share, there was a need to consider improving strategy evaluation practices such as having structures to correct undesired strategy, provide monthly targets for key departments and ensure regular comparison of SACCO's business performance with set quantitative goals.
Key Words: Strategic Management Practices, SACCOs Performance, Strategy Evaluation, Strategy Formulation
CITATION: Mukhongo, L. S., & Muteshi, D. C., (2020). Strategic management practices and performance of sACCO’s in the county government of Kakamega, Kenya. The Strategic Journal of Business & Change Management, 7(1), 843 – 854.
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DOI: http://dx.doi.org/10.61426/sjbcm.v7i1.1592
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