Competencies and Organization Performance of Insurance Firms: A Case of First Assurance Limited

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dc.contributor.authorOmondi , Paulette Akello
dc.date.accessioned2024-07-19T08:05:08Z
dc.date.available2024-07-19T08:05:08Z
dc.date.issued2023-10
dc.descriptionMASTER OF BUSINESS ADMINISTRATION in Strategic Management
dc.description.abstractCompetition and the global nature of conducting business has made many organizations redundant if found inadequate in their competitive edge. Core competencies have made flexible organizations relevant in spite of the changes demanded. Relevance of an organization is also reflected in its performance without which it will not be able to achieve its objectives. This study looked into the effects of core competencies and organization performance by considering the case insurance firms with a specific focus on First Assurance Limited. The objectives of the study were to determine the core competencies adopted by First Assurance Limited, to evaluate the performance of First Assurance Limited and to establish how core competencies influence the performance of First Assurance Limited. The study was guided by the core competencies theory around which the conceptual framework is developed, the resource-based theory and the Balanced Scorecard model. A descriptive research design was used and inferential statistics for correlation analysis. The population of the study was a census consisting of 180 employees of First Assurance Limited. Pretesting of the data collection instrument was done in Madison Group Limited, a competitor of First Assurance, to determine validity and reliability using the Cronbach coefficient. A questionnaire was utilized for collection of data. The questionnaire had a Likert scale to capture the responses. The study found that First Assurance Limited's core competencies, including unique insurance products and customer-centric training, significantly impact its performance in the insurance industry, aligning with prior research. Workflow automation was found to be crucial for enhancing organizational efficiency, although there was a discrepancy in regular risk assessment. Given this case it was recommended that there is need to implement consistent risk assessments, improve employee technological adaptability, and enhance technical support services.
dc.description.sponsorshipSchool of Business and Economics of Daystar University
dc.identifier.citationOmondi , P. A., (2023). Competencies and Organization Performance of Insurance Firms: A Case of First Assurance Limited: Daystar University, School of Business and Economics
dc.identifier.urihttps://repository.daystar.ac.ke/handle/123456789/4799
dc.language.isoen
dc.publisherDaystar University, School of Business and Economics
dc.subjectOrganization Performance
dc.subjectInsurance Firms
dc.subjectFirst Assurance Limited
dc.titleCompetencies and Organization Performance of Insurance Firms: A Case of First Assurance Limited
dc.typeThesis

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