INFLUENCE OF STRATEGIC REFORMS ON PERFORMANCE OF SUGAR MANUFACTURING FIRMS IN WESTERN KENYA
Abstract
This study sought to establish the influence of of industrial reforms on performance of sugar manufacturing firms in Western Kenya. Target population were the employees of sugar manufacturing firms. Simple random sampling technique was used to arrive at the sample size of 254 respondents using Yamane Formula. Primary data collection instruments mainly the questionnaires was used in the study. Both descriptive and inferential statistics were used in this study. The findings revealed that farming methods accounted for 58.3% of performance, given R-square (r2) of 0.583. Further, the coefficients of determination, R-square (r2) of 0.457 implied 45.7% of the variance in performance of sugar manufacturing firms was attributed to product diversification. The coefficients of determination, R-square (r2) of 0.559 implied 55.9% of the variance in performance of sugar manufacturing firms was attributed to corporate social responsibility. In addition, the coefficients of determination, R-square (r2) of 0.519 implied 51.9% of the variance in performance of sugar manufacturing firms was attributed to marketing strategies. The researcher recommended sugar manufacturing firms to be actively get engaged in improving the farming methods since they have an influence on the performance. Sugar manufacturing firms should actively engage in product diversification since it improved their performance. Sugar manufacturing firms need to engage in corporate social responsibility activities since it has an effect on the performance. Sugar manufacturing firms need to get involved in employing different marketing strategies since it has an influence on their performance.The findings of the research was useful to investors, shareholders, management, policy makers and employees of sugar manufacturing companies. This study also contributes to the existing body of knowledge and forms a basis of reference in future studies.
Key Words: Farming Methods, Product Diversification, Corporate Social Responsibility, Marketing Strategies
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DOI: http://dx.doi.org/10.61426/sjbcm.v5i4.948
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