THE EFFECT OF STRATEGIC RESPONSES ON THE FINANCIAL PERFORMANCE OF REGISTERED WATER PACKAGING FIRMS IN NAIROBI COUNTY
Abstract
The main objective of this study was to determine the effects of strategic responses on the financial performance of the registered water packaging firms in Nairobi County. The study adopted a descriptive survey design, target population being the 42 registered water packaging firms in Nairobi County. This study used primary data and secondary data collected through use of a questionnaire and from the Kenya National Bureau of Statistics (KNBS). The questionnaires were self-administered with the help of research assistants. After data was collected, it was prepared for analysis by editing, handling blank responses, coding, and keying into statistical package for social sciences (SPSS). The descriptive statistics were frequencies, mean scores and standard deviation. The inferential statistics were regression and correlation analysis. A multivariate regression model was used to link the independent to the dependent variable. The study found that innovation and financial performance of registered water packaging firms in Nairobi County, the relationship was positive and significant. The study also found that CSR and financial performance of registered water packaging firms in Nairobi County the relationship was positive and significant. The study further found that technology adoption had significant influence on the financial performance of registered water packaging firms in Nairobi County. Also the study revealed that corporate governance had positive and significant influence on the financial performance of registered water packaging firms in Nairobi County. The study’s conclusions were that there was strong relationship between financial performance of registered water packaging firms and innovation, CSR, technology adoption and the corporate governance. The study recommended the management of registered water packaging firms, while making a choice of the kind of strategic responses to be adopted, should be guided by the following key attributes: innovation, corporate social responsibility, technology adoption and corporate governance.
Key words; Innovation, Corporate Social Responsibility, Technology Adoption, Corporate Governance and Financial Performance
CITATION: Mitheu, C. N., & Kariuki, P. (2019). The effect of strategic responses on the financial performance of registered water packaging firms in Nairobi County. The Strategic Journal of Business & Change Management, 6 (2), 1345 –1359.
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DOI: http://dx.doi.org/10.61426/sjbcm.v6i2.1188
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