The Factors Influencing Strategy Implementation In Family Owned Businesses In Kenya: A Case Study of Nairobi Place Ltd.
Journal Title: International Journal of Management Sciences - Year 2015, Vol 5, Issue 6
Abstract
Strategy implementation is a set of decisions and actions that result in the translation of the strategic thought into organizational action where an organization moves from planning its work to working its plan in order to achieve the set objectives. This study sought to investigate the factors influencing strategy implementation in family owned enterprises in Kenya with specific reference to Nairobi Place Limited. The specific objectives of this study were: The specific objectives of the study were: To establish the influence of decision making on strategy implementation of family owned business at Nairobi Place Limited, to examine the influence of culture on strategy implementation of family owned business at Nairobi Place Limited, to determine the influence of culture on strategy implementation of family owned business at Nairobi Place Ltd, to determine the influence of succession planning on strategy implementation of family owned business at Nairobi Place Ltd and to examine the influence of finance allocation on strategy implementation of family owned businesses at Nairobi Place Ltd.The study adopted case study research design and targeted all the 56 employees of Nairobi Place Limited. This was a census study and the researcher managed to get responses from 48 respondents representing 86% response rate. A semi-structured questionnaire was used to obtain information from the respondents. The questionnaires were administered through drop and pick method. The research findings revealed that decision making, succession planning, culture and finance allocation respectively influenced strategy implementation at family owned businesses in Kenya. With regards to decision making, the research findings revealed that there were hierarchical difficulties when making decisions aimed at implementing organizational strategies. The findings further revealed that majority of the respondents understood and subscribed to the organization‟s mission and vision statements content to a great extent. With regards to succession planning, the findings revealed that the future of Nairobi Place Limited is bright. However, the future of the business did not match those of the family. The organization had efficient collecting revenues mechanisms from the services it offered to a great extent despite the insufficient budgetary allocation to reinforce strategy implementation. Based on the study findings the following specific recommendations are given: Management to adequately consult before making major strategy implementation decisions; prepare family members to take up management positions and efficiently run this business; increase budgetary allocation to implement various strategies and instill sound financial controls to help protect organizational ambitions.
Authors and Affiliations
S. Mubia Wanjohi, Esther Waiganjo
Keywords
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