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Abstract:
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Strategic management process (SMP) is an area to reckon in strategy formulation, implementation and key decision-making in the organization pegged on environmental scanning on the competitive forces in the petroleum industry and the energy sector could be magnanimous based on its benefits. The use of SMP requires a critical analysis in unveiling better ways of harnessing its benefits in leveraging the strength of the competitive forces and establishing competitive advantage over the competitors of Vivo Energy. However, this may be dependent on factors such as the level of engagement of SMP, allocation of resources to promote strategic management process, establishment of a proactive culture that inculcates strategic management process and successful implementation of the strategies and critical decisions arrived at through the SMP. It is on this light that this study analyses the impact of strategic management process on the performance of Kenya based petroleum companies: a case of vivo energy. By conducting a census on the managers and supervisors of Vivo Energy headquarter in Nairobi, and three research questions, the study employed descriptive survey design and utilized questionnaires to collect data which was analyzed both descriptively and inferentially. The findings showed that the exclusion of SMP is a recipe for failure in critical and comprehensive analysis of the industry competitive forces, efficiency and effectiveness with dire performance-related consequences. Based on the findings, the study concluded that SMP should be the foundation and core of companies in the petroleum industry and energy sector in particular. The study recommends that Vivo Energy and stakeholders in the entire energy sector must align resources towards the development of strategic management process for higher efficiency and effectiveness in decision making. |
