ROLE OF STRATEGIC PLANNING PRACTICES IN ENHANCING COMPETITIVENESS OF MANUFACTURING ENTERPRISES IN KENYA: A CASE OF KEVIAN KENYA LIMITED
Abstract
The purpose of this study was to examine the role of strategic planning practices in enhancing competitiveness of manufacturing enterprises in Kenya. To achieve this goal, this study used the following objectives: to determine the influence of product optimization strategy on competitiveness in manufacturing firms in Kenya; to find out the effects of strategic finance sourcing on competitiveness in manufacturing firms in Kenya; to assess the effects of integration of workforce strategy on competitiveness in manufacturing firms in Kenya; and to establish the effects of community-firm relationship strategy on competitiveness in manufacturing firms in Kenya. The study used descriptive research design and used Kevian Kenya Limited as a case study. Both primary and secondary data collection approaches were used. Data collection targeted population of 260 respondents. Qualitative data was processed using Statistical Package for Social Sciences (SPSS) version 20. The study found a strong positive relationship between dependent and all the independent variables. Respondents expressed their satisfaction with KK’s strategic finance sourcing and product optimization strategy practices. On the other hand, majority of the respondents expressed dissatisfaction with the company’s integration of workforce strategy and community – firm relationship strategy. Overall, the findings of this study suggested that proper strategic planning practices improves firm’s competitiveness.
Key Words: Product Optimization, Strategic Finance, Workforce Integration Strategy, Community-Firm Relationship, Manufacturing Firms in Kenya
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DOI: http://dx.doi.org/10.61426/sjbcm.v5i2.729
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