EFFECT OF STRATEGIC MANAGEMENT PRACTICES ON ORGANIZATIONAL GROWTH: A CASE OF DIAMOND TRUST BANK
Abstract
This research study focused on investigating the effect of strategic management practices on organizational growth. The study aimed at establishing how effect of strategic partnerships, effect of service innovation and agency banking, result of technology and outcome of customer experience Management strategies on the organizational growth of DTB. To achieve this, the researcher reviewed both theoretical and empirical literature and proposed the research methodology that addressed the gaps identified in literature as well as answer the stipulated research questions. This research study adopted a descriptive research design approach. The study preferred this method because it allowed an in-depth study of the subject. To gather data, structured questionnaire was used to collect data from 50 senior managers. Once collected, data was analyzed using descriptive and inferential statistics. Quantitative data was analyzed using multiple regression analysis. The qualitative data generated was analyzed by use of Statistical Package of Social Sciences (SPSS) version 20. The response rate of the study was 96%. The findings of the study indicated that technology adoption, strategic partnerships, customer experience management and agency banking have a positive relationship with organizational growth. Finally, the study recommended that banks should embrace strategic management practices so as to improve organizational growth and further researches should to be carried out in other institutions to find out if the same results can be obtained.
Key Words: Technology Adoption, Strategic Partnerships, Customer Experience Management, Agency Banking, Organizational Growth
CITATION: Karani, R. O., & Gitau, R. (2019). Effect of strategic management practices on organizational growth: A case of Ddiamond Trust Bank. The Strategic Journal of Business & Change Management, 6 (2), 2100 – 2117.
Full Text:
PDFReferences
Abdifatah, H. M. (2012). Strategic management practices and their impact on performance among humanitarian organizations in Kenya. An MBA Research Project Submitted to the University of Nairobi.
Aberdeen Group (2014). Strategic inventory strategies benchmark report: how inventory misconceptions and inertia are damaging companies. service levels and financial results, Aberdeen Group.
Akintonye, N. (2014). The effect of inventory management on performance of German service firms, Journal of Operations Management, 2(1), 1-5.
Amayi, F. K. (2011). Factors Affecting Strategic management in the Private Service: a Case Study of the State Law Office. Eldoret: Moi University.
Andrew, M. (2012). Strategic management Reforms in Kenya. Journal of Economics, 22(1), 23-50.
Arrowsmith, S., & Quinot, G. (2013). Strategic management regulation in Africa. Cambridge, UK: Cambridge University Press.
Asaari, H., & Razak, R. (2010). Strategic decision making practices and Organization performance: A conceptual perspective of Malaysian organizations. Malaysia.
Basheka, B. C. & Bisangabasaija, E. (2010). Determinants of unethical strategic management in local government systems of Uganda: a case study. Int. J. Strategic management Management, 3(1), 91–104.
Bassi, L. & McMurrer, D. (2011). Human Capital and Organizational Performance: Next Generation Metrics as a Catalyst for Change, USA, Whitepaper, McBassi & Company Inc.
Brigham, E. & Gapenski, L. (2013). Intermediate Financial Management, Pearson, New York.
Centre for Health Solutions - Kenya (2014). Health Systems Strengthening in a Devolved System of Government. CHS forum on health system strengthening in the Devolved system of government.
Croom, S. & Jones, A. (2010). E-strategic management: Key Issues in inventory control implementation and operation in the Private Sector.
Davila, A. (2009). The adoption and the use of inventory control technology model, European Management Journal, 21 (1), 11-23.
Deloitte (2012). Strategic Review of the NHIF fund in Kenya. Nairobi: International finance Corporation-World Bank Group Press. Retrieved February 2017.
Dess, G. S. (2011). Consensus in Strategy Formulation and Organizational Performance Dynamics. (8th Ed.) New York: Prentice Hall.
Dorothy, K. (2012). Strategic management Management Strategies. Journal of Purchasing, 16(1), 20-52.
Dryden, P. & Brownell, J. (2012). Strengthening the purchase vendor management inventory, Cornell University, Dublin.
Edward, B. (2009). Private Sector Strategic management Methods. Journal of Strategic management, 11(1), 65-78.
Fawcett, S. (2009). Benefits, barriers and bridges to effective strategic management, Strategic Management: An International Journal, 13(1), 35-48.
Gakuru, N. (2012). Application of inventory models in drug strategic management the case for the Nairobi city council health services, Unpublished MBA Project, University of Nairobi, Nairobi.
George, D., & Mallery, P. (2013). SPSS for Windows step by step: A simple guide Longman Publishers, Nairobi, Kenya Debt structure [Electronic Version], 20, 1389.
Githendu, D. (2010). Inventory management by simulation analysis: a case study of Davis & Shirtliff Company limited, Unpublished MBA Project, University of Nairobi, Nairobi.
Githui, D. (2012). Responsible purchasing and strategic management in Kenya. European Journal of Business and Management 13(1), 35-48.
Hall, J. (2009). Environmental Strategic Dynamics. Journal of Production and Operation Management. 44 (9), 143-147.
Herbert, R. (2015). Strategic management strategies development, 2nd edition. New York: Pitman.
Hooper, A. & Potter, J. (2010). Intelligent Leadership: Creating Passion for Change. Randon House Business.
Howard, T. (2014). Strategic management research, 2nd edition. London: Oxford University Press.
Jay, G.W. & Alec, F.L. (2010). Strategy Implementation. Westport, CT: Praeger.
Jha, R. (2010). Customer focused collaborative demand planning in Hi-Tech Industry, Massachusetts Institute of Technology, USA.
John, G & Johnson, P. (2012). Research methods for Managers, 4th Edition. Sage Privateations: London.
Kasomo, D. (2011). Research Methods in Humanities and Education, Eldoret; Zapf Chancery.
Kinyanjui, P. (2010). Strategic management Challenges in Kenya. Journal of Strategic management, 13(1), 65-85.
KIPPRA. (2010). The Demographic Governance Support Programme (DGSP). Nairobi: KIPPRA.
Kombo, D. & Tromp, D. (2013). Proposal and Thesis Writing, an introduction. Nairobi: Pauline Privateations Africa.
Kothari, C.R. (2014). Research Methodology; Methods & Techniques (2nd ed.). New Delhi; New Age International Press Limited.
Krajewski, L. & Ritzman, L. (2009). Operations management strategy and analysis, Addison Wesley, Reading, MA.
Lai, K. & Cheng, T. (2010). Just-in-Time logistics, Gower Publishing Limited, England
Lambert, D. (2011). Strategic management: processes, partnerships, performance (3rd Ed.), the Hartley Press Inc., USA.
Leeders, S. (2012). Purchasing and Supplies Management. (3rd ed.). Mason, NJ: Pearson Publishers.
Liu, B. (2011). Relationship between strategic orientation and organizational performance in Born Global: A critical review. International Journal of Business Management. 6 (3), 10-19.
Lysons, K. (2013). Purchasing and strategic management 7th Edition. New York: McGraw-Hall.
Maghanga, F. (2011). Logistics outsourcing practices among tea processing firms in Kericho County, Kenya, Unpublished MBA Project, department of management science, University of Nairobi, Nairobi.
Maina, E. T. (2011). Factors Influencing the Implementation of the Strategic management and Disposal Act, 2005 in Kenya: a Case on the Ministry of Education. Nairobi: JKUAT.
McCrudden, C. (2013). Using strategic management to Achieve Social Outcomes, Natural Resources Forum, 28(4), 103-187.
Mehra, S. & Inman, R. (2010). JIT implementation within a service industry: A Case Study, International Journal of Service Industry Management, 1(3), 53‐61.
Mugenda, O. & Mugenda, A. (2014). Research methods quantitative and qualitative approaches. Nairobi: Acts Press.
Mungu, S. (2013). Strategic management practices and stock levels of essential drugs in private health facilities in Bungoma East Sub County, Unpublished Research Project, University of Nairobi, Nairobi.
Neuman, W.L. (2010). Social Research Methods: Qualitative and Quantitative Approaches (Fourth Edition ed.). Boston.
Ngechu, M. (2009). Understanding the Research Process and Methods. An Introduction to Research Methods. Acts press, Nairobi.
Odhiambo, W. & Kamau, P. (2013). Strategic management Lessons from Kenya, Tanzania and Uganda. Research programme on the Integration of Developing Countries into the World Trading System.
Odundo, E.O. (2012). Environmental context, implementation of strategic plans and performance of State Corporations in Kenya. Digital Repository, University of Nairobi.
Onyango, A. (2011). Strategic Management Practices and Performance in Cement Industry in Kenya, Unpublished MBA Project, University of Nairobi School of Business, Nairobi.
Oso, Y. & Onen, D. (2010). A general Guide to Writing Research Proposal and Report. Kisumu: Options Printers and Publishers.
Owegi, F., & Aligula, E. (2012). Private sector strategic management in Kenya: The need for a coherent policy framework. International Journal of Logistics and Strategic Management.
Palevich, R. (2012). The lean sustainable strategic : how to create a green infrastructure with lean technologies, Pearson Education, Inc., London.
Qiu, J. H. (2013). The Executive Leadership and Performance Management: Japan.
Raduan, C.R., Jegak, U., & Haslinda, A. (2009). Management, Strategic Management Theories and the Linkage with Organizational Competitive Advantage from the Resource-Based View. European Journal of Social Sciences, 11 (3), 402- 418.
Roodhooft, F. & Abbeele, A. D. (2012). Strategic management of consulting services Evidence and comparison with private companies. International Journal of Private Sector Management, 19(5), 490-512.
Rotich, L. M. (2011). Influence of Planning on Strategic management Performance in the Kenya, International Journal of Human Resource and Research Privateation, 12 (4), 289-292.
Saleemi, N. A. (2010). Purchasing and supplies Management Simplified. Nairobi: Saleemi Privateations Limited.
Samuelson, O. (2013). The IT-Barometer-A Decade.s Development of its Use in The Swedish Construction Sector. Journal of Information Technology in Construction, 13 (5), 1-19.
Schonberger, R. (2011). Supplier partnering contributes and strategic performance: a deeper look. Hoboken, New Jersey, USA: Published by John Wiley & Sons Inc.
Shapiro, J. (2009). Modeling the strategic (2nd ed.). Cengage, USA: Cengage Learning.
Stewart, G. (2015). Strategic performance benchmarking study reveals keys to strategic excellence, Logistics Information Management, 8 (2), 38-44.
USAID (2012). Selecting and implementing vendor managed inventory systems for private health strategic : Deliver Project, USAID.
Wangari, B. (2012). Influence of competitive strategies on the performance of hair salons in Nairobi. Unpublished MBA Project report, University of Nairobi.
Water, D. (2013). Global logistics and distribution planning: strategies for management (4th edition), Kogan Page Limited, London.
Watson, N. & Zhang, Y. (2012). Decentralized serial strategic s subject to order delays and information distortion. International Journal on Manufacturing and Service Operations Management 12(7), 152-168.
Watson, N. (2010). Strategic strategic planning & the role of forecasting, Research Associate, CTL, MIT.
Weele, A. J. (2009). Purchasing and Strategic Management: Analysis, Strategy, Planning and Practice. NY: Cengage Learning EMEA.
Wisner, T. & Leong, G. (2011). Principles of strategic management: A Balanced Approach (3rd Edition), USA.
World Bank (2013). .Reducing Strategic Barriers Could Increase Global GDP Up To 6 Times More Than Removing All Import Tariffs Report., Switzerland.
Zer, O. & Wei, W. (2012). Strategic commitment for optimal capacity decision under asymmetric forecast information, Management Science, 52 (8), 1239-1258.
DOI: http://dx.doi.org/10.61426/sjbcm.v6i2.1242
Refbacks
- There are currently no refbacks.
This work is licensed under a Creative Commons Attribution 3.0 License.
PAST ISSUES:
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.