Growth Strategies And Sacco Members’ Advancement: A Case Of Safaricom Sacco.
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Date
2023-10
Authors
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Volume Title
Publisher
School of Business and Economics, Daystar University
Abstract
ABSTRACT
Globally SACCOs play a vital role in improving the socio-economic well-being of their members, primarily through the adoption of growth strategies. These strategies, involving planned resource allocation to achieve specific goals, aim to enhance members' asset accumulation, career growth, and business development. However, there is a growing need to assess whether the adoption of growth strategies in SACCOs significantly impacts members' advancement. This study sought to investigate the relationship between growth strategies adopted by the Safaricom SACCO and members' advancement. The study was guided by three theories namely resource-based view theory, agency theory and dynamic capability theory. It also adopted descriptive research design and quantitative approach to collect and analyze the data. It employed questionnaires to gather data which were administered to 117 respondents made of top management and employees in the first and second tiers of Safaricom SACCO. The study found a robust and positive association between growth strategies adoption within Safaricom SACCO and the advancement of its members. Specifically, the correlation noteworthy relationship as follows: Market penetration and member advancement (r=0.738 p>0.05); product development and member advancement (r=0.830 p>0.05); and diversification and member advancement (r=0.796 p>0.05). The study's results underscore the significant importance of implementing effective growth strategies within SACCOs, underscoring their potential to propel members' advancement and improve their financial stability. The study further recommended that SACCOs should adopt growth strategies since they could elevate the socio-economic status of members.
Description
Masters Thesis
Keywords
Sacco, Members, Advancement, Safaricom Sacco
Citation
Kiburi K. A,. (2023, Thesis). Growth Strategies And Sacco Members’ Advancement: A Case Of Safaricom Sacco. School of Business and Economics, Daystar University