STRATEGIC MANAGEMENT PRACTICES AND PERFORMANCE OF SUPERMARKETS IN NAKURU COUNTY, KENYA
STRATEGIC MANAGEMENT PRACTICES AND PERFORMANCE OF SUPERMARKETS IN NAKURU COUNTY, KENYA
Adan Guyo Kanano - Master Student, Kenyatta University
Dr. Jane Wanjira - Lecturer, Kenyatta University
ABSTRACT
The supermarkets are facing numerous challenges that impact on their performance. To address these challenges, the supermarkets have explored different strategies to drive their organizational performance. The general objective of this study was to examine the influence of strategic management practices on performance of supermarkets in Nakuru County, Kenya. The study was guided by the following specific objectives; to examine the effect of strategy formulation, strategy implementation and strategy evaluation on performance of supermarkets in Nakuru County, Kenya. This study was guided by three theories, namely; strategic choice theory, open systems theory and the agency theory. The study used descriptive research design. The study targeted the 12 supermarkets within Nakuru Town and 100 managers participated in the study. The study concluded that there was a positive relationship between the three strategic management practices and supermarket performance in Nakuru town. It was further found out that strategy formulation had the highest influence on performance of supermarket. The study found that carrying out assessment of formulated strategies was the most cited aspect of strategy formulation in supermarkets in Nakuru. This study concluded that strategy formulation had the capacity to contribute to a higher level of performance in supermarkets The study further recommends that supermarkets should efficiently manage risk associated with its investments in order to effectively implement the formulated strategies.
