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    Analysis of Adhocracy Culture Implementation Approach and Performance of Universities in Kenya.
    (EdinBurg Peer Reviewed Journals and BooksPublishers, 2022) Chege, Susan W.; Gichunge, Evangeline; Muema, Wilson
    The recent increase in competition and insufficient government financing, as well as the government's increased focus on technical, vocational education training, have had a significant negative impact on higher education's service delivery and performance. The study sought to determine the effect of role culture implementation approach on universityperformance in Kenya. The study used a descriptive research approach, and its target population included 444 senior university employees from all 74 accredited universities in Kenya. Descriptive and inferential statistics were used to analyze the data. Adhocracy culture insignificantly influenced universities’ performance by -13.3% (R square value of -0.133). The correlation value of (r=-.097, p<0.05) showed the negative relationship between adhocracy culture and universities’ performance. The chi-square value of χ2(5) = 0.038, p=0.049 proved there was an insignificant relationship between adhocracy culture and universities’ performance. Adhocracy culture was insignificantly associated with placement and research output performance, university ranking, student placement by KUCCPS,and graduation rate.Organization managers musthave a good understanding of the adhocracy culture that exists in universities and the impact it generates on typical performance. This is very important while making imperative decisions.
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    Clan Culture Implementation Plan and Performance of Kenyan Universities
    (EdinBurg Peer Reviewed Journals and BooksPublishers, 2022) chege, Susan W.; Gichunge, Evangeline; Muema, Wilson
    The recent increase in competition and insufficient government financing, as well as the government's increased focus on technical, vocational education training, have had a significant negative impact on higher education's service delivery and performance. The study sought to determine the effect of role culture implementation approach on university performance in Kenya. The study used a descriptive research approach, and its target population included 444 senior university employees from all 74 accredited universities in Kenya. Descriptive and inferential statistics were used to analyze the data. The findings indicated that clan culture influenced universities’ performance by 11.9% (R square value of 0.119).The correlation value of (r=0.071, p<0.05) showed the relationship between clan culture and universities’ performance significant. The chi-square value of χ2(5) = 23.704, p=0.041 further established a significant relationship between clan culture and universities’ performance. Clan culture was significantly associated with research output, satisfactory university ranking, student placement by KUCCPS, and graduation rate. Managers must support the clan culture to accomplish the goals set by an organization successfully. Therefore, employees need to be supported by managers byall means alongside training needs and learning opportunities, creativity, and innovation.
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    Effect of Achievement Culture on the Performance ofUniversities in Kenya.
    (EdinBurg Peer Reviewed Journals and BooksPublishers, 2022) Chege, Susan W.; Gichunge, Evangeline; Muema, Wilson
    The recent increase in competition and insufficient government financing, as well as the government's increased focus on technical, vocational education training, have had a significant negative impact on higher education's service delivery and performance. This study set out to find out how Kenyan universities perform in relation to their adoption of an accomplishment culture. The study used a descriptive research approach, and its target population included 444 senior university employees from all 74 accredited universities in Kenya. Descriptive and inferential statistics were used to analyze the data. The relationship between achievement culture and universities’ performance was significant. Vision, missions, goals, core values, and philosophies significantly affected public universities’ performance. Therefore, universities adopted realistic and achievable strategic statements and communicated adequately among staff. The study recommends that managers must support the achievement culture to accomplish the goals set by an organization successfully. Therefore, employees need to be supported by managers by all means alongside training needs and learning opportunities, creativity, and innovation.
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    Effect of Role Culture Implementation Approach on Universities Performance in Kenya.
    (EdinBurg Peer Reviewed Journals and BooksPublishers., 2022) Chege, Susan W.; Gichunge, Evangeline; Muema, Wilson
    The recent increase in competition and insufficient government financing, as well as the government's increased focus on technical, vocational education training, have had a significant negative impact on higher education's service delivery and performance. The study sought to determine the effect of role culture implementation approach on university performance in Kenya. The study used a descriptive research approach, and its target population included 444 senior university employees from all 74 accredited universities in Kenya. Descriptive and inferential statistics were used to analyze the data. The study discovered that role culture was significant to performance of universities. The R square value of 0.184 proved that role culture affected the performance of universities by 18.4%. The correlation value of (r=0.321, p<0.05) showed the relationship between role culture and universities’ performance was positive and significant. The chi-square value of χ2 (5) = 12.222, p=0.027 further established a significant relationship between role culture and universities’ performance. Role culture was significantly associated with research output, student placement by KUCCPS, and graduation rate. Organization managers must have a good understanding of the cultures that exist in universities and the impact it generates on typical performance. At the managerial level, the management should not only pay attention to the results but also consider the needs of the staff for positive outcomes.
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    Reality of the future in integrating faith and learning: Case of Christian Universities.
    (Africa Journal of Evangelical Theology, 2021) Kagwaini, Dorothy Muthoka
    In today's world, many people have adopted the post-modernist worldview without realizing it. Researchers have found that few Christian individuals/universities adequately address integration of faith and learning in their operations. On one hand, the reason for the lack of integration is related to the much discussed theories and failure to address the practicable application of it. On the other hand, lack of paying attention on the basic foundations of integrating faith and learning in life. Therefore, the main purpose of this paper was to investigate the role of religion in Christian Universities and cast a vision on reality of the future being faced in the area of faith and learning in Christian universities. This paper sought to answer the following questions: How is integration of accounting profession applied by the Christian universities? What is the role of Christian Educators in integration of faith and learning in Christian Universities? The study used a survey to collect primary data as well as personal experience backed up with some secondary information from other Christian universities. The findings showed mixed results when a comparative was performed with majority of the respondents (79.3%) from South Korea and (50.2%) in Kenya disagreeing to religion not influencing accountants when applying accounting standards. However, majority of the respondents in South Korea were atheists (58.8%), while in Kenya (98.5%) of the respondents indicated were Christians. Nonetheless, the challenges faced in application of accounting standards were significantly different between South Korea and Kenya because of difference in religion and continuous revisions of the accounting standards. This paper shall be used to spur Christian universities to integrate faith in various disciplines and encourage Christian values in a world that has denied Godhead in schools/and universities.
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    An Empirical Survey on the Effect of Business Alignment on the Organizational Performance of Microfinance Banks in Kenya.
    (International Journal of Recent Research in Commerce Economics and Management (IJRRCEM), 2023-09) Wandiga, Eunice Ngina; Karanja, Stephen; Kahuthia, Julius
    Microfinance banks play a key role in complementing banks in the provision of financial services, especially to the population that is poor and lacks access to commercial banks. The performance of Microfinance banks has been on the decline in Kenya due to slow processing time, lack of new products, low number of customers and lack of staff retention. Microfinance banks offer financial services to a population that cannot get the same services from commercial banks due to the high costs. Microfinance banks in Kenya have been performing poorly in the last few years occasioned by the closure of some of the branches of the microfinance banks while some like Century microfinance banks have been acquired by other Fintech companies. These microfinance banks need to leverage and reconfigure all the resources they have to achieve and maintain sustainable competitiveness. This study sought to investigate the effect of business alignment on the performance of Microfinance banks in Kenya. This study adopted the positivist research philosophy and also adopted the cross-sectional descriptive and explanatory research design. The study employed stratified proportionate sampling and simple random sampling from the 14 registered Microfinance banks regulated by the Central Bank of Kenya. Primary data was collected through structured questionnaires. Quantitative data was analyzed using descriptive statistics using means and standard deviations while inferential statistics were done through multiple linear regression and analysis of variance while observing the significance levels of p value<0.05. Diagnostic tests on multicollinearity, normality and heteroscedasticity were carried out. Tables and narratives were used to present the results. The study found that business alignment significantly positively affected the performance of microfinance banks. The findings of this study add to the knowledge by developing a conceptual framework based on the strategic alignment model and also revealing the specific alignments that are key to improving the performance of microfinance banks in Kenya. Management of microfinance banks should work with their regulators to change their business model of loan awarding, and leverage technology to offer appraisal and disbursement of quick loans on the mobile.
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    An Empirical Survey on The Effect of Adaptive Leadership on Performance of Deposit taking Microfinance Institutions in Nairobi County, Kenya
    (International Academic Journal of Innovation, Leadership and Entrepreneurship., 2024-09) Wandiga, Eunice Ngina; Namutala, Joseph Opanda
    The Deposit Taking Microfinance Institutions (DTMFIs) endeavor to provide financial services to the informal sector and the poor, a category of the populace that is significant, yet left out. There is stiff competition within the Microfinance sector occasioned by government policy, competition from non-regulated lenders, technology and other commercial banks getting into this space. Due to these challenges, DTMFIs are plagued by low outreach which means that they are not able to fulfill their mandate of poverty reduction. Further, their lack of sufficient resources for onward lending implies that some struggle with financial sustainability and may venture into newer frontiers that do not resonate with their vision but promise financial sustainability. Performance of such institutions therefore becomes critical since it ensures the availability of financial services to a critical mass. This study investigated the effect of adaptive leadership on performance of Deposit Taking Microfinance Institutions (DTMFIs) in Nairobi County. In particular, the study set out to evaluate the effect of adaptive work and emotional intelligence on the performance of Deposit Taking Microfinance Institutions in Nairobi County. The main theory was adaptive leadership theory supported balanced scorecard (BSC) model, and emotional intelligence theory. The study was based on the postpositivist approach adopting descriptive and explanatory design with a target population of 298 senior, middle-level, and lower-level managers drawn from 12 Deposit Taking Microfinance Institutions in Nairobi County. Primary data was collected using a semi structured questionnaire. Multiple linear regression analysis was used to establish the relationship between the variables. The results indicated that adaptive work and emotional intelligence had a statistically significant effect on performance. The study concluded that adaptive leadership had a statistically significant on the performance of DTMFIs in Nairobi County. The study therefore recommends that senior, middle level, and lower-level managers should focus on various elements of adaptive work and emotional intelligence for improved performance of DTMFIs in Nairobi County
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    The Mediating Role Of Organizational Competences On The Relationship Between Operations Strategy And Performance Of Management Consultancy Firms In Nairobi City County, Kenya
    (IOSR Journal of Business and Management (IOSR-JBM), 2024-09) Wandiga, Eunice Ngina; Ngila, Celestine
    In the wake of globalization and intensified competition, identification and naturing of key competencies has become more critical especially in service industry. Besides, scope of competencies has widened from employee competencies to decision-making, innovation, customer service, strategic perspectives, teamwork, risk-taking and strategic leadership. This study sought to investigate the moderating role of organizational competence on the relationship between operations strategy and performance of management consultancy firms in Nairobi County. Social capital theory anchored the study where positivism philosophy was adopted alongside descriptive and explanatory research designs. Target population consisted of management consultancy firms in marketing, human resource, finance and accounting and operations management in Nairobi County from which a sample of 144 management consultancy firms was selected using stratified sampling technique. Data was analysed using descriptive statistics and inferential analysis via multiple regression analysis. R2 was used to test the robustness of the model, F-statistic was computed at 95% confidence level to test the overall significance of the model while p-values were used to determine the significance of variables at 0.05 significance level. To test the mediating effect of organizational competence on the relationship between operations strategy and performance among management consultancy firms in Kenya, Baron and Kenny four step approach was used. It was concluded that operations strategies have a significant positive effect on performance of management consultancy firms and that the relationship between the adopted operations strategy and performance of management consultancy firms is dependent on the level of competences generated from the deployment of the operations strategy.
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    Effect of Organisational Capabilities on Sustainable Competitive Advantage in Audit Firms: A Case Study of Deloitte Limited.
    (Journal of Business and Strategic Management, 2017) Nzyoka, Justine M.; Kamaku, Paul; Munyao, Joseph
    Purpose:The purpose of this study was to assess theeffect oforganizational capabilities on sustainable competitive advantage in audit firms using a case study of Deloitte LimitedMethodology:A descriptive research design wasused. The studypopulationwas drawn from the offices at Deloitte Place on Waiyaki Way. The study conducted a census of all the 106 staff from the target population. Primarydatawas used and wascollected using questionnaires. Quantitative data analysis conducted using SPSS. Quantitative data was analyzed using descriptive statistical methods. Correlation analysis was also conducted. The qualitative analysis was used to make conclusions on the open ended questions.Results:The study findings revealed thatgenerally, the human resource capabilities, infrastructure and technology capabilities as well as the reputation capability of the firm could be described as average. Only the leadership capabilities were found to be above average based on the responses given.The study established that the firm had attained sustained competitive advantage mostly in the areas of brand identity and protection, organizational culture and the quality of services delivered. The study further established that HR capabilities, leadership capabilities, infrastructure and technology capabilities as well as reputation capability positively and significantly affected the level of sustainable competitive advantage at Delloite Kenya.Unique contribution to theory, practice and policy:The study recommended that the firm needed to modify and develop its existing organizational capabilities of the firm beyond the average level.The study also recommended the firm needed to increase the level of utilization of information systems in streamlining/interlinking its processes so that there was quicker and increased information sharing within the firm for efficiency and flexibility in responding to customer needs.It was further recommended that the firm’sorganization constructsthat is, aninnovation-oriented organizational structure and an innovation friendly organizational culture be advanced to support and enhance the firm’s capabilities.
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    Prevalence of Anxiety and Depression among Cervical Cancer Patients in Referral Hospitals in Western Kenya
    (African Journal of Clinical Psychology, 2022) Obwenyi, Milkah; Njiru, Lucy; Wachira, David Muturi
    Cervical cancer is common among women, second in prevalence and highest in cancer related mortality in Kenya. A cancer diagnosis and subsequent treatment procedure may predispose patients to anxiety and depressive disorders. This study sought to determine the prevalence of anxiety and depression among cervical cancer patients attending referral hospitals in Western Kenya. Data on prevalence of anxiety and depression was obtained using Becks Anxiety Inventory (BAI) and Beck Depression Inventory- II (BDI-II) respectively from 218 cervical cancer patients. With 95% confidence level and p-value of ≤ 0.05, bivariate, and univariate analysis were calculated. The study found that the prevalence of anxiety among cancer patients was 80.3% with anxiety prevalence significantly higher among participants aged 40-49 years at 29.8%. Prevalence of anxiety was also found to be relatively higher among participants with primary levels of education (46.8%); among those who indicated they were married (54.1%); and those who said they had received social support from family members (44.5%). In regards to depression, the study showed that the prevalence of depression was at 67% among the participants with higher depression symptoms presented among participants aged 40-49 years (25.2%); participants with primary level education at 42.2%; and among married participants with depression symptoms at 42.7%. The distribution of depression symptoms was also higher among participants who received social support from family members at 36.2% as opposed to participants who received no social support at 21.6%. The high prevalence of anxiety and depression among patients diagnosed and undergoing treatment for cervical cancer calls for clinical mental health practitioners to consider psychological treatments for these patients.
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    Effect of Teachers’ ICT Pre-requisite Skills on Adoption and Use of Information Communication Technologies (ICT) in Public Secondary Schools in Kenya
    (American Journal of Humanities and Social Sciences Research (AJHSSR), 2019) Oduor, Hellen Nekesa; Boit, John; Ayiro, Laban Peter
    The government of Kenya funded five secondary schools in every constituency in 2010/2011 financial year under ICT Economic Stimulus Programme (ESP).The move was geared towards catalyzing the adoption and use of ICT in secondary schools. The purpose of this study was to investigate the influence of teachers’ ICT prerequisite skills on adoption and use of information communication technology (ICT) in public secondary schools in the republic of Kenya. The objective was to assess the effect of teachers’ ICT pre-requisite skills on adoption and use of ICT. The study adopted a mixed methods research design, it was informed by the pragmatic philosophical paradigm and guided by diffusion of innovation (DOI) theory. The target population was 30,080 teachers from public secondary schools funded by the government of Kenya under ICT Economic Stimulus Programme (ESP). Participating regions, counties and schools were selected using simple random sampling design to obtain 384 teachers. ICT pre-requisite skills, was the independent variables while adoption and use of ICT in public secondary schools was the dependent variable. Data was collected by closed ended questionnaires and interview schedules. It was cleaned and presented using the mean, mode and range descriptive statistics. The hypothesis was tested via Pearson’s Correlation Coefficient. The study established a statistically significant relationship between teachers’ pre-requisite ICT skills and adoption and use of ICT of + 0.154. The study recommended a follow up/monitoring and evaluation of adoption and use of ICT on termly basis until it picks the momentum, a review of the teacher education curriculum to reflect more courses in ICT, emphasis on in-service training in ICT. Finding and recommendation of this study will be of use to education stakeholders; policy makers, teachers, students and the government as they strives to attain vision 2030.
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    Firm-Level Determinants of Export Performance in Kenya’s Manufacturing Sector
    (International Journal of Economics, 2024) Kimolo, Dorothy Ngina; Njaramba, Jennifer; Chesang, Laban K.
    Purpose: This study aimed at investigating the firmlevel determinants of export performance (export propensity and export intensity) in Kenya’s manufacturing sector using firm-level panel data obtained from the World Bank Enterprise Surveys for the periods 2007, 2013 and 2018. Methodology: The study adopted a quantitative nonexperimental research design. The Heckman TwoStage estimation procedure was employed to jointly establish the firm-level determinants of export propensity and export intensity in Kenya’s manufacturing sector. Findings: Based on the estimation results, firm-level total factor productivity, firm size, human capital, cost of material, electricity cost and foreign ownership had positive and significant effects on firms’ export propensity while labor productivity negatively influenced export propensity. Firm age, capital intensity and research did not have significant effects on export propensity. On the other hand, export intensity was positively influenced by firm-level total factor productivity, foreign ownership, firm size, firm age, human capital and research. Labor productivity had a negative effect on firms’ export intensity. Whereas the effect of energy cost on export intensity was weakly significant at 10 percent level of significance, there was no significant effect of cost of material on export intensity. Unique Contribution to Theory, Practice and Policy: Employing the new ‘new’ trade theory, the study tested the self-selection hypothesis by analyzing the determinants of export propensity and intensity. According to the self-selection hypothesis, one of the key positive determinants of export propensity and export intensity is firm-level total factor productivity. The study findings validated the self-selection hypothesis since the results revealed firm-level total factor productivity as a positive and significant determinant of both export propensity and export intensity for Kenya’s manufacturing firms. According to the study's conclusions, the government and enterprises must focus on policies that increase firm level total factor productivity, firm size, human capital, and research in order to improve firms' export performance.
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    An Empirical Survey on the Relationship between Tactical Influence and Organizational Effectiveness of Freight Forwarding Firms in Nairobi City County, Kenya
    (International Academic Journal of Innovation, Leadership and Entrepreneurship, 2024-03) Ndonye, Davies Mutuku; Wandiga, Eunice Ngina; Odiyo, Wilson J. O.
    Turbulent global markets characterised by uncertainty, heightened competition, shortened product life cycles and shifts in customer preferences have put organizational effectiveness at jeopardy. The impact of changing trends in international trade has been more pronounced especially in the freight-forwarding sector. Unprecedented occurrences have caused a drift from the conventional organizational management to a more dynamic approach that calls for tactical leaders who can assert influence and get things done for effectiveness. Freight forwarding firms in Kenya play a critical role in generating value and revenue. The logistics sector contributed 5.8% of Kenya’s GDP in 2017 and has been increasing ever since. However, logistics performance indices have shown Kenya lagging behind other leading African countries including South Africa, Egypt, and Tanzania. Kenya’s low index is attributable to factors that have continued to impair trade facilitation. This study sought to determine the effect of tactical influence on organizational effectiveness of freight forwarding firms in Nairobi City County, Kenya. The Leader-Member Exchange Theory anchored the study, which adopted descriptive and explanatory research designs from pragmatic philosophical view. The target population was 400 freight-forwarding firms practicing in Nairobi City County, Kenya. Ninety-two firms were selected using simple random sampling technique from which 276 respondents were selected using stratified random sampling technique. Primary data was collected using a structured questionnaire and in-depth interviews. Quantitative data was analysed using descriptive and inferential techniques while qualitative data was analysed thematically. The study found that tactical influence was to a high extent practiced and emphasized. Correlational results revealed that tactical influence had a significant positive correlation (r=0.295, p<.001) with organizational effectiveness while regression results revealed that tactical influence had a significant positive effect on organizational effectiveness. Extracted tactical influence dimensions were found to apply in the freight-forwarding sector. The study concluded that tactical influence had significant effect on the effectiveness of freight forwarding firms in Nairobi City County, Kenya. These findings contribute to the body of knowledge and hold promise for providing a deeper understanding of the link between tactical influence and organizational effectiveness.
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    Export Intensity and Total Factor Productivity in Kenya‟s Manufacturing Sector
    (International Journal of Economics and Finance, 2024) Kimolo, Dorothy Ngina; Njaramba, Jennifer; Chesang, Laban K.
    Kenya has adopted an export-led manufacturing industrialization strategy as envisaged by many policy documents including the Kenya Vision 2030 which aimed at increasing the manufacturing share in Gross Domestic Product to 15 per cent by 2022. The share of manufactured exports in all exports was targeted at 60 per cent by 2022 as per the National Exports Development and Promotion Strategy. However, manufacturing sector‟s productivity has been declining as demonstrated by its economic contribution which has averaged around 10 per cent from 2007 to 2022 and has persistently declined from 12.79 per cent in 2007 to 7.83 per cent in 2022 pointing towards premature deindustrialization. Besides, from 2007 to 2022, the share of total exports made up of manufactured goods averaged 33 per cent. The study aimed to estimate firms‟ total factor productivity (TFP) and examine the impact of export activity on firms‟ TFP in Kenya‟s manufacturing industry. Firm TFP was computed utilizing the Levinsohn and Petrin (2003) technique. The study employed Propensity Score Matching and a dynamic panel model estimated using the generalized methods of moments technique, to analyze the effect of exporting on firms TFP. Export intensity, labor productivity and management experience had positive effects on firm‟s TFP. However, firm size and capital intensity had negative effects on TFP. Based on the study findings, the government should emphasize on export promotion policies as well as adoption of labor intensive technologies in Kenya‟s manufacturing sector.
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    Moral Authority beyond the Positions and Titles
    (Daystar University, 2024) Kagwaini, Dorothy Muthoka; Musau, Celestine; Mwose, Morris; Ebanda, Raphael; Wamunyu, Wambui
    Moral authority is a kind of substantiated Reliability, Accountability and a deserving to be believed whether through rule of law or mere provided judgements. It cuts across the government, businesses, church, politics, and Individual Leadership. On one hand, positions and titles are used in institutions and organisations to help manage human capital in terms of power and decisions. On the other hand, the positions and titles do reflect the unique value of that person until the person makes decision that are tested for integrity, accountability and transparency. This article was motivated by generation Z’s demand for rejection of the Finance Bill, 2024. The discussion set the base on the Kenyan scenario, moral authority, leadership in government. In conclusion, the spiritual values embedded in the Kenyan national anthem should be guarded and adhered to.
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    The Nexus Between the Central Bank of Kenya and Private Providers of Cryptocurrencies
    (The World Financial Review, 2023-03-29) Kagwaini, Dorothy Muthoka
    Cryptocurrencies ride on blockchain, a disruptive technology in the world. The Kenyan government has been lagging behind in recognising their growth and proliferation. Yet, it can utilise the power of its technological infrastructure to enhance the efficiency of these cryptocurrency payments. The innovation is becoming friendlier to law-enforcers than law-breakers.
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    Case Study: Sweet Meal Commodities
    (The International Journal of business & management, 2018-10) Irungu, Dancan Njagi
    Abstract: The purpose of this case study is to establish the phases that small businesses go through as they evolve from start up to maturity stages. The case also reveals the challenges which small business enterprises experience along the different stages of business cycle. Entrepreneurial characteristics that successful entrepreneurs display have also been demonstrated. Some of the characteristics that have been revealed in the case study include but are not limited to; resilience, tenacity, visionary, focus, discipline, consistency, hard work etc. The main research instrument used was interview guide; the protagonist and senior business managers were interviewed. The case introduces a dilemma which makes it difficult for the case protagonist to decide the best way to go in the next phase of business growth. The dilemma for in the case study is making the choice between expanding the current business and diversifying into real estate business. The rationale of the dilemma is to demonstrate the difficulty that entrepreneurs experience when making business decisions. The case study reveals that entrepreneurs experiences different challenges at different stages of business life cycle.
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    Effects of Firm Resources on the Internationalization of Medium Sized Firms; Evidence from Kenya
    (School of Business and Economics, Daystar University, 2010) Irungu, Dancan Njagi; Ndegwa, Joyce Watetu
    Abstract The purpose of the study is to assess the effects of firm resources on the internationalization of medium firms taking evidence from Kenya. Resource Based View (RBV) is the main theoretical framework that has informed the study. The ownership of the unique resources is assumed to be the reason why Medium firms in the same industry and location respond differently to export stimuli; one initiating export business and is in a position to meet its export orders while another similar one is not. The argument is that the internal resources tangible or intangible are the main explanatory determinant of firm internationalization. Kenya Top 100 medium firms formed target population. The results of the study indicate that Medium firms that seek for internationalization should invest in developing rare and unique resources which are not imitable. The findings reveal that internal resources tangible or intangible are the main explanatory determinant of medium firm internationalization. The results of the study agrees with a lot of the existing literature on SMEs internationalization on that ownership of the unique resources is a major reason why firms in the same industry and location respond differently to export stimuli. To overcome the challenges of smallness, medium firms have to leverage on knowledge and network resources for they are rare, unique and are not imitable.
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    Effect of Macroeconomic Variables on Stock Market Volatility in Kenya
    (Jomo Kenyatta University of Agriculture and Technolog, 2017) Amata, Evans Ombima
    Stock market volatility is widely regarded as one of the factors that erode investor confidence in African markets. This happens when a sharp fluctuation in share prices is not explained by changes in fundamental economic factors. Theories in finance have for long viewed macroeconomic variables as predictors of stock market volatility, while studies in behavioral finance have associated stock market volatility with investor behavior, particularly the herding behavior. This study sought to examine the relationship between macro-economic variables and stock market volatility in Kenya. Specifically, the study examined the direct relationship between each of the four selected macro-economic variables namely; interest rates, inflation rate, foreign exchange rate, gross domestic product, and stock market volatility. The study further explored the moderating effect of investor herding behaviour on the direct relationship between selected macroeconomic variables and stock market volatility. The study adopted a descriptive research design and targeted all companies listed on the Nairobi Securities Exchange from January 2001 to December 2014. The study used secondary data on interest rate, exchange rate, inflation rate and GDP, covering a period of 14 years. The data was obtained from the Kenya National Bureau of Statistics and the Central Bank of Kenya. Data on share prices and market indices was acquired from the Nairobi Securities Exchange. Stock market volatility was measured by computing the standard deviation of the Nairobi Securities Exchange daily and monthly returns over the 14 year study period. The study used a market-wide herd index which was calculated using the Cross Sectional Standard Deviation (CSSD) method. Data was analyzed using E-views version 8. The study employed both correlation and regression analysis. Results from correlation analysis found that there was a significant relationship between all selected macro-economic variables and stock market volatility. However, when the long run and short run causal relationship was tested using vector error correction model (VECM) and xvii granger causality test, the study found that interest rate and inflation granger cause stock market volatility both in the short run and long run in Kenya, while GDP and exchange rate did not have a direct causal relationship with stock market volatility. The study also established that investor herding behaviour had no direct causal relationship with stock market volatility, however, investor herding behaviour was found to significantly moderate the relationship between exchange rate and stock market volatility on the Nairobi Securities Exchange. The study findings were limited to selected macro-economic variables and methods used in measuring and analysing the relationship. Further studies are recommended to investigate other macro-economic variables in order to understand their effect on stock market volatility in Kenya. The study recommends a strict monetary policy and control of factors contributing to change in inflation and interest rates which the study finds to be the key variables contributing to stock market volatility.
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    Networking as a Driver of Internationalization among Medium Sized Firms in Kenya
    (School of Business and Economics Daystar University, 2010) Irungu, Dancan Njagi; Marwa, Simmy Mwita
    ABSTRACT: The purpose of the study is to examine the role of networking as the key driver of internationalization of medium firms. International trade has enormously contributed to Kenya‟s economic growth. However, majority of Medium sized firms in Kenya remain focused on the domestic market despite the gains that internationalization is associated with. Medium Enterprises have enormously contributed to the global economic growth and development over the years. Networks have been underscored in internationalization literature across different contexts as a principal feature that facilitates the process of MEs internationalization. Network theory is the main theoretical framework that has guided the study. The study used cross sectional research design. Kenya Top 100 Medium companies formed the target population for the study.The empirical evidence has shown how networking drives the internationalization process of medium sized firms. The findings indicate that networking activities provides the necessary linkages which facilitate entry into geographically and psychically near markets. The study concludes that those medium firms that seek for internationalization should develop both formal and informal networks as enablers of accessing international markets.