Journal Articles


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    Start-Up Family Businesses: Lesson From Large Successful Family Businesses
    (International Journal of Innovative Research and Advanced Studies, 2017-03) Muriithi, Samuel Muiruri
    Family businesses are the backbone of the world economic where they are associated with economic and social transformation. While majority of large family businesses perform better than corporate or public organisations, there are millions of such businesses that do not survive beyond their first generation of operation. The inability to succeed is associated to several challenges among them trying to accommodate all family members in the businesses, over-specialising and under-specialising in certain functional areas and creating expertise gaps, diverting funds away from businesses and inability to manage family conflict especially relating to generation succession. However, with good strategies to manage family members’ role in businesses, acquiring appropriate expertise, effective management of success across generations, promoting cohesions and talent management, such family businesses can survive across generations and decades. This paper is based on empirical evidences from existing researches and studies aimed at generating lessons that upcoming or start-up family businesses can learn from experienced and well established successful family businesses. The paper is based on over 6000 family businesses studied by leading world scholarly and research bodies. This makes the lessons therein not only credible but very valuable for upcoming family businesses, policy makers and government bodies, all interested in family businesses.
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    Family Business Founders’ Influence On Future Survival Of Family Businesses
    (International Journal of Economics, Commerce and Management, 2016-01) Muriithi, Samuel Muiruri
    Small and medium sized businesses are the engines that drive economic development and contribute significantly to the Gross Domestic Products (GDP) of most countries. The roots of such businesses are the families that form their foundations. To succeed, family business founders must establish strong foundations, structures and succession plans. This paper examined the role of African and Indian business founders in determining the future of their businesses across generations. The study targeted 52 business founders (owners) and managers operating Mombasa City (Kenya) and used stratified random sampling method to identify the respondents. A questionnaire was used as the primary data collection instrument while a documentary analysis was performed to attain secondary data. The paper found that family businesses are predominant among all respondents. It was also found that most Indian families involve family members in business during strategic development and planning. In terms of longevity, Indians businesses lasted longer while African businesses were only a few years old and rarely succeeded across two or three generations.
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    The Relationship Between Strategic Thinking and Leadership Effectiveness among Kenyan Indigenous Banks.
    (South African Journal of Economic and Management Sciences, 2015) Muriithi, Samuel Muiruri; Louw, Lynette; RADLOFF, Sarah E
    : Leadership effectiveness is critical to organisational performance and survival. To be effective, organisational leaders must possess the right competencies. One vital leadership competency is strategic thinking, which is described as the ability to synthesise and utilise intuition and creativity in order for an organisation to achieve an integrated perspective. Strategic thinking remains a critical area for research, owing to lack of supporting empirical literature, and to theories that give little or no guidance to leaders.
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    How Strategic Market Entry Modes Influence Internationalization of Small Medium Enterprises in Kenya
    (The International Journal of Business & Management, 2018-10-31) Irungu, Dancan Njagi
    The purpose of this paper is to establish how strategic market entry modes influence firm’s ability to expand from the local to the international market. The study looked at how different entry modes determine the level of firm internationalization. Some of the strategic entry modes which medium sized firms have used include exporting, direct investment, licensing and franchising, outsourcing and subcontracting, collaborations and partnerships. The study targeted CEOs and senior managers for 100 Top Medium firms in the category of 2012. Structured questionnaire was administered and both descriptive and inferential statistics were used. The findings revealed that though the mode of entry affects the firm’s ability to internationalize, there are multiple factors that should be considered when deciding to go international as opposed to only one or a few.
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    Determinants of Successful Strategic Plan Implementation: Lessons from the Church Commissioners for Kenya
    (European Journal of Business and Management, 2014) Mutie, Julia Mutave; Irungu, Dancan Njagi
    The purpose of the study is to establish the determinants of successful strategic plan implementation using a case of The Church Commissioners for Kenya.The concept and practice of strategic planning has been adopted globally and across sectors because of its supposed influence to organizational performance. However, not all strategic plans get realized and therefore the study seeks to establish those factors that would promote successful implementation of the strategic plans.This study used case study design with the case organization being The Church Commissioners for Kenya. Primary data was gathered by the use of questionnaire instrument from a total of 69 members of Management for the case organization. Data was analyzed with the use of the Statistical Package for Social Sciences (SPSS) version 21. The findings were presented by the use of frequency tables, graphs and pie charts.The key results of the study indicate that leadership, organizational culture, technology and possession of the unique resources are key determinants of successful strategy implementation. Further results reveal that involvement of the stakeholders at the point of strategy formulation is fundamental for it promotes ownership of the strategy plan during implementation. The study concludes that successful strategy implementation requires a combination of different support factors which would ensure that the formulated strategy is successfully implemented.
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    Does Adoption of Information Technology Improve Firm Performance? A Survey of Firms Listed in the Nairobi Securities Exchange
    (Journal of Economics and Sustainable Development, 2014) Wambu, Carolyne Wanjiku
    Information technology has become a major driver for firm performance in the 21st century. Many firms however, have lagged behind in the adoption of IT which a major drawback given the nature of global competition. The objective of the study is to determine the effects of the adoption of Information Technology on organisational performance which is a survey of firms listed in the Nairobi Securities Exchange. Cross sectional research design was used in the study. The study targeted the chief information technology officers, information technology managers, information system managers and managers involved in policy making decisions on computing systems in all the companies listed in the Nairobi securities exchange. Both open ended and closed questionnaires instrument was used to gather the data. The study found out that competitive advantage, cutting costs, customer service and convenience, enhancing security, and financial management are the attributes that are associated with adoption of information technology and this improves the performance of the firms listed in the NSE. The study concludes that IT adoption has an effect on performance of firms listed at NSE, in addition environmental, strategic and managerial factors have an effect of IT adoption on the performance of organisations. The study recommends that firms should invest in IT capabilities and IT resources in order to spur performance.
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    Effect of Growth Strategies on the Performance of Small and Medium Size Enterprises in the Tourism Industry
    (he international Journal of Humanities and Social Studies,, 2017-08-31) Onyango, Damaris; Kyongo, Joanes Kaleli
    The objective of the study was toassess the effectof growth strategies on the performance of small and medium sizetravel and toursenterprises in NairobiCounty, Kenyaand a corresponding hypothesis was formulatedand tested. The study targetted 40 employees from four leading travel firms in Nairobi County and 39 of them responded. Data was collected using structured questionnaires and analyzed by useof Statistical Package for the Social Sciences, Version21. The study found a positive and statistically significant effect of growth strategieson performance of small and medium size travel and tours enterprisesinNairobi County, Kenya. The study findings support the Resource Based View Theory(Barney, 1986)and Schumpeter’sGrowth Theory of Innovation(1934). The study recommends adoption of severalgrowth strategies to leverage potential profitability and internal business processes synergiesfor enhanced enterprise performance
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    Effect of Managerial Competence, Firm-Level Institutions and Human Resource Management Bundles on the Performance of Publicly Quoted Companies in Kenya
    (The International Journal of Business & Management, 2016-12-31) Kyongo, Joanes Kaleli
    The objective of the study was to determine the effect of managerial competence, firm-level institutions and human resource management bundles on the performance of publicly quoted companies in Kenya. The corresponding hypothesis was formulated and tested. The study targeted Human resource managers of each of the 64 publicly quoted companies as at December, 2014, and 34 of them responded. The study adopted the positivist research philosophy and a descriptive survey design. SPSS Version 21 was used to analyze data using regression analysis. Research findings from the test of hypothesis established that managerial competence, firm-level institutions and human resource management bundles have positive effect on firm performance. The study finding supports the Resource-Based View, Ability - Motivation theory and Knowledge Space Theory. The study recommends further investigation of the study variables in non-governmental organizations, small and medium sized enterprises and faith-based organizations.
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    Effect of Interpersonal Competence on Organizational Performance
    (The International Journal of Humanities and Social Studies, 2016-12-31) Kyongo, Joanes Kaleli
    The objective of the study was to determine the effect of interpersonal competence on the performance of firms listed on the Nairobi Securities Exchange and the corresponding hypothesis was formulated and tested. The study targeted Human resource managers of each of the 64 firms listed on the Nairobi Securities Exchange as at December, 2014, and 34 of them responded. The study adopted the positivist research philosophy and a descriptive survey design. SPSS Version 21 was used to analyze data using regression analysis. Research findings from the test of hypothesis established that interpersonal competence has positive and significant effect on organizational performance. The study finding supports the Resource-Based View and Knowledge Space Theory which underscore the crucial role of interpersonal competence in company performance. The study recommends further investigation of the study variables in non-governmental organizations, academic institutions and churches.
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    The relationship between Investment Strategies and Profitability in the Insurance Industry in Kenya
    (International JournalofFinance, 2017) Iregi, Roseline Njeri; Okeyo, Joshua
    Purpose:The Study sought to find the relationship betweeninvestment strategies and profitability in the insurance industry inKenyaMethodology:The study adopted a descriptive survey research design.This study used both primary data from the respondents of the research instruments and the secondary data available from the financial statements. Thestudy took 50% of the population as the sample size. Thisyielded 22 insurance companies. Both qualitative and quantitative data was collected using a questionnaire that consisted of both open ended and close ended questions. Data was analyzed using Statistical Package for Social Sciences (SPSS) and results presented in frequency tables to show how the responses for the various questions posed to the respondents. Results:Results indicated that there is a positive and significant relationship between investment strategies and profitability, ROA and ROE of insurance companies. Specifically, it was revealed that passive strategies are more superior to active strategies as they enhance profitability.The results imply that insurance firms invest in local stocks, international equity, cash equivalents, bonds and investment in associates and subsidiaries in an effort to diversify. Unique contribution to theory, practice and policy:The study recommends that insurance firms should continue investing in local stocks, international equity, cash equivalents, bonds and investment in associates and subsidiaries in an effort to diversify their portfolio. It is also recommended that insurance firms should reduce their holdings in real estate to safeguard their liquidity. The study recommends that insurance firms should use passive strategies as opposed to active strategies as this would enhance their profitability. Passive strategies are less costly compared to the active strategies
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    Effects of Loyalty Programs on Financial Performance: The Moderating Role of Company Size.
    (African Multidisciplinary Journal of Research (AMJR), 2022-02-23) Kirori, Gabriel; Wachira, David; Kiarie, John
    The purpose of this study was to develop an original framework to explore the direct effect of Loyalty programs on a firm’sfinancial performance and to discuss the moderatingrole of company size. The study applies two original concepts-Loyalty programsand companysize to develop an integral model that enhances the firm’sfinancial performance.Secondary data was extracted from financial statements. Explanatoryresearch design which wasnon-experimental in nature was employed to analyze the effect of company size on financial performance of selected service industry firms. Panel data analysis was used to link the relationship between the Loyalty programs, company size and financial performance.Findings indicated that company size moderatesthe relationship between loyalty programs and Financial Performance of the selected firms in the service industry in Kenya
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    Effect of Experiential Marketing in Building brand equity A case of Unilever Tanzania Brands
    (International Journal of Supply Chain Management, 2017) Mukiira, Evelyn Maradufu; Musau, Celestine; Munyao, Joseph
    Purpose: To analyze the effects of experiential marketing in building brand equity for selected brands of Unilever Tanzania. Methodology: The study adopted an explanatory and descriptive research design. Findings: The study found that experiential marketing is the best way to market a product, and senses are heightened when they experience the product/brand firsthand. The study found that experiential marketing practices have a positive effect on consumers and overall brand equity. The study also found that it is a challenge in capturing marketing insights, connecting with customers, building strong brands, shaping the market offerings, delivering and communicating value, creating long-term growth, and developing marketing strategies while building brand equity. Unique contribution to theory, practice and policy: Potential benefits of such a study include raising marketers‟ awareness of the importance of brand equity needs of the FMCG companies by making use of experiential marketing as an avenue to meeting the targets and achieving high returns for each of their brands. This research will benefit Unilever Tanzania and other FMCG companies, as it will provide a roadmap that they can use to market their product/brands better. The research will play a great role in assisting mangers by exploring how they can more effectively ensure that the brands curve out a bigger share of the market by tapping into unutilized opportunities. This insight into the significant role played by experiential marketing could also be used to steer other brands that are looking for value to use this channel of marketing campaigns.
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    Moderating Effect of Gearing Ratio on the Relationship between Loyalty Programs and Financial Performance of Selected Firms in Service Industry in Kenya
    (Journal of Economics, 2019-08-15) Kiarie, John; Kirori, Gabriel; Wachira, David
    Thepurposeofthestudywastodeterminethemoderatingeffectofgearingratioontherelationshipbetween loyalty programs and financial performance of selected firms in service industry inKenya.Thestudyemployedexplanatoryresearchdesignwhichisnon-experimentalinnature.Thetarget population was three (3) telecommunication firms (Safaricom, Airtel and Telkom Kenya),49 supermarkets and 46 Five Star hotels. Since the population of telecommunication firms wassmall, the study used the census survey method. Purposive sampling was used to select 5 bigSupermarketsand16FiveStarhotels.Paneldataanalysiswasusedtolinktherelationshipbetweenthe variables. Similarly, One-Way ANOVA was used to find out if the financial performance ofthe threeserviceindustriesweredifferent.Diagnostictests which includednormality tests,multicollinearity tests, panel unit root tests and fixed and random effect were carried out. Theresultsfurthershowedthatgearingratiohaveanegativeandsignificantrelationshipwithfinancialperformance of service industry. The regression results revealed that gearing ratio improved thestrength of the relationship between loyalty program and Financial Performance of the SelectedFirms in Service Industry in Kenya. Since long term debt provides tax shield for the company,there is every tendency for the company to continue to grow debts, the effect of accumulatingunnecessarydebtsshould formregularpolicydiscussbythemanagement andthedirectors,hencethere should be high-powered committees of the managements and the board to review the debtportfoliofromtimetotime.Thesecommitteesshouldbefirmoninvestment/divestmentofany debtcapitaltoensurethatthecompanystaysafloatall thetimewithoutthefearof anylitigationfornotmeetingupwithallpresentandpreviousobligations
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    Small and Medium Enterprises (SMEs), the Heart of Chinese Economic Development: What Can African Governments Learn?
    (European Journal of Research and Reflection in Management Sciences, 2018) Muriithi, Samuel Muiruri
    The last few decades have witnessed the meteoric rise of China as a world economic champion in terms of development, growth and impact, a move that seems to destabilize the economic and political dominance of the Western countries. However, the Chinese economic growth is not an accident but is a well-orchestrated plan meant to transform the country and its business enterprises. From a state controlled socialist economy, China has adopted open door policy, market oriented approach and political changes meant to navigate the country into a global market leader. At the heart of Chinese economic development is the Small Medium Enterprises (SMEs) sector. Recognising the central role played by SMEs, the Chinese Government integrated SMEs agenda in its national and social development strategic planning leading to development of numerous legislations and policies meant to promote and boost SMEs growth. Currently SME businesses are spread in all major sectors from manufacturing, constructions, agriculture to service industries. Some laws implemented to promote SMEs include eradicating barriers to growth, establishing equal level playing ground rules for all businesses, promoting scientific and technological innovations, and creation of conducive competitive atmosphere. As a strategy to ensure local and regional growth of SMEs, the government classified the businesses in terms of their absolute advantage. The move has seen categorisation of development into four main categories, namely township and village-based enterprises, private enterprises, state-owned businesses (SOEs) and jointventures. It is this strategy that has seen industries rise in all major regions resulting to development and employment creation across China. Comparing the Chinese Government’s role in supporting SMEs and African governments shows a sad reality. Although SMEs in Africa accounts for 95% of all businesses, 50% of GDP and 60% of employment, their rate of failure range from 50% to 90%. Unlike China, African governments have been accused of making it difficult for SMEs operations. With little or no incentives, SMEs have to contend with heavy taxes, high cost of production, lack of finances and poor legal and legislation structures. This paper presents Chinese Government as a model of how African countries can promote SMEs to steer development and transformation of their economies. The paper recommends that African governments prioritise SMEs as key pillars of economic and social development of individual countries and the continent as whole.
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    Effects of Credit Card Incentives on Consumer Borrowing In Kenya: A Case of Commercial Banks in Kenya
    (International Journal of Academic Research in Economics and Management Sciences, 2017) Mwende, Joyce; Wachira, Muturi; Amata, Evans
    Financial institutions have mainly relied on incentive programs as their main strategic driver to increase electronic payments, such as through use of credit cards. Credit cards have been globally acclaimed for their benefits that range from their ability to ensure tax-compliance, security, instant cash and their ability to facilitate settlement of cross-border transactions. However, there exists a great challenge of credit card usage, such as ease of accumulation of debts and high interest charges. The purpose of this study was to determine the effect of credit card incentives on consumer borrowing in Kenya. The study employed a descriptive study approach using a sample size of 18 commercial banks offering credit card services. Selfadministered questionnaires were used to collect information. Credit card incentives were found to be a major contributor to credit card uptake. The study also found that most banks used incentives such as rewards for repeated use, low interest rates, traveling awards and benefits to influence the spending behavior of their clients. The study found credit card also affected spending behavior. It is concluded that credit card incentives can be effectively used by banks to increase use of credit cards. It is recommended that financial institutions should educated their customers on how to use their credit cards so that they do not fall into a debt trap.
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    Relationship Between Macro-economic Variable, Investor Herding Behavior and Stock Market Volatility in Kenya
    (International Journal of Economics, Commerce and Management,, 2016-08-08) Amata, Evans Ombima; Muturi, Willy; Mbewa, Martin
    This study sought to examine the relationship between interest rate, inflation, gross domestic product (GDP), foreign exchange, investor herding behaviour and stock market volatility. Published time series data from January 2001 to December 2014 was obtained from the Central Bank of Kenya, Kenya National Bureau of Statistics, Capital Market Authority and the Nairobi Securities Exchange. Granger causality test was used to determine the short run causality while the Vector Error Correction Model (VECM) was used to test the long run causality between predictor variables and stock market volatility. Result from the regression model show a positive and significant relationship between inflation and stock market volatility both in the short run and long run. The study finds that an increase in inflation by 1% leads to an increase in stock market volatility by approximately 24%. Results also revealed that there is a negative and significant relationship between interest rate and stock market volatility both in the short run and long run. GDP, Foreign exchange and herding behaviour had no significant relationship with stock market volatility in Kenya.
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    Assessment of Challenges Facing the Implementation of County Integtrated Development Plan: A Case Study of Narok County.
    (Journal of stratetegic management, 2017) Psiwa, Jane Tipitip; Irungu, Dancan Njagi; Muriithi, Samuel Muiruri
    the study recommends that the national government of Kenya should disburse funds to the county governments regularly and on time, NCG should review their style of leadership to a transformational and consultative style, and that the national government should review the national legislations and policies that govern the operations of county governments
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    Key Decison Maker as the Determinant of Internationalization of Medium Sized Entreprises: Lessons from Kenya
    (International Journal of Economics, Commerce and Management., 1015-06-06) Irungu, Dancan Njagi; Marwa, Simmy Mwita; Ndegwa, Joyce Watetu; WambuaKalei, Anne Favor Mumbua
    The main objective of the study is to determine the influence of key decision maker attributes on the internationalization of medium sized firms. Key decision maker attributes have been underscored in much internationalization literature across different contexts as a principal feature that facilitates the process of Medium Enterprises internationalization. Medium enterprises play a significant role in creating a strong economic base to any country since they greatly contribute to employment creation. There is overwhelming evidence from the literature that the key decision maker plays a huge role in the internationalization of Medium enterprises. International entrepreneurship theory is the main theoretical framework which informs the study. The main variables that are examined in the study include key decision maker education, international experience and international business vision. Descriptive research design has been used in the study. The key CEOs of the Top 100 medium sized companies in the category of 2012 were the respondents of the study. The results of the study indicate that key decision maker attributes plays a significant role in the internationalization process of medium sized firms. The study concludes that the key decision maker is a major determinant of the firm’s ability to grow from the domestic market and internationalize its operations
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    Digital Borrowing And Personal Finance Among Students In Selected Christian Universities In Nairobi County – Kenya
    (International Journal of Scientific and Research Publications, 2023-04) Nzisa, Samuel Maingi; Kithandi, Charles Katua
    Technological advancements in the financial sector have revolutionized the order of borrowing. Digital lending platforms have emerged, offering quick access to funds by many borrowers with no collaterals, no need for paperwork, complete and remote accessibility, and the use of digitized data to determine the creditworthiness of the borrowers. The purpose of this study was to investigate the relationship between digital borrowing and personal finance among students in selected Christian universities in Nairobi County, Kenya. The study used the financial intermediation theory, innovation diffusion theory, time preference theory, and the finance and inequality theory. A descriptive research design was utilized for primary and secondary data, and the primary data was collected using a questionnaire. The data was then cleaned, coded, and organized for analysis using the Statistical Package for the Social Sciences (SPSS). After analysis, the data was presented in charts, tables, and figures. The findings indicated that the most common digital borrowing platforms are Okoa Jahazi, Tala, Branch, Fuliza, Mshwari, KCB Mpesa, KCB App, MCo-op Cash, and Eazzy Banking App. The study also established that students in the sampled Christian universities highly depended on their parents for upkeep and that their digital loans were mostly for for emergencies and investment activities. Spearman correlation was used to determine the relationship between the dependent variables (savings, spending, and investment) and the independent variables (application-based lending and mobile-based lending), resulting in a moderate positive correlation and a significance level of P<0.001. It was concluded that digital borrowing significantly and positively affects personal finance. The study recommends a change of the digital credit system and an efficient and effective regulation for all digital lenders.
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    Impact of Stock Market Development on Economic Growth in Kenya: A Systematic Review
    (International Journal of Recent Research in Commerce Economics and Management (IJRRCEM), 2023-03) Kithandi, Charles Katua; Moragwa, Christine; Mutunga, Antony
    This study aims to analyze the relationship between the stock market development and economic growth in Kenya This study uses a systematic review and analysis of relevant empirical reviews from previous studies. The study analyses data from five previous studies done in Kenya between the period 2017 -2021. The findings of the systematic review show that while an expanding stock market can cause economic growth to be impacted positively, this relationship is not straightforward and is affected by a variety of factors, including political stability, government policies, financial infrastructure, and the availability of credit and foreign investment. The study also identifies several challenges that have hindered stock market development in Kenya, including a shortage of liquidity, limited participation by domestic investors, weak corporate governance, and inadequate regulatory oversight. Based on these findings, the study provides evidence-based recommendations for policymakers to promote stock market development in Kenya and enhance its contribution to economic growth. These recommendations include improving the regulatory framework, enhancing transparency and disclosure requirements, increasing investor education and awareness, and strengthening corporate governance practices. The study concludes that stock market development has a significant positive effect on economic development in Kenya.