Research Journal of Business and Finance

The effects of innovation strategies on business sustainability of SMEs in hospitality service industry in Nairobi County beyond COVID-19 pandemic

2024-07-29T03:37:35+00:00

This study investigated the impact of innovation strategies on the business sustainability of small and micro enterprises (SMEs) in the hospitality service industry in Nairobi County, particularly in the aftermath of COVID-19. Recognising the importance of innovation in navigating uncertainties, the research aimed to analyse how innovative approaches influenced the sustainability of SMEs in the hospitality sector beyond the pandemic. The study focused on registered SMEs in Nairobi's CBD, employing a descriptive research design. From a total population of 2490 SMEs, a sample of 249 was selected using stratified sampling. Self-structured questionnaires were utilised for data collection and the regression method was employed for analysis. Results of the regression model on Innovative approaches not only assisted businesses in adapting to post-COVID19 challenges but also contributed to improved service quality and operational resilience. The study's implications extend to SMEs in similar industries, offering practical insights for fostering innovation as a key driver for sustained success. The study recommends that the CBD should improve in process, product & market innovation by creating uniqueness and innovative ideas that will attract customer to the SME`s for the hospitality business in Nairobi. According to the study, the SME`s should also invest in marketing technology that is not costly like social media marketing to brand their products for both local and international market.

Influence of operational excellence strategy on organisations’ competitiveness among tier III category of Commercial Banks in Kenya

2024-07-29T03:55:55+00:00

Tier 3 Kenyan commercial banks face significant challenges, including intense competition, financial distress, and declining profits despite consistent loan growth. This study investigates the impact of operational excellence strategies on the competitiveness of these banks using a pragmatic research approach that combines qualitative and quantitative methods. The study is grounded in the dynamic capabilities theory and collected data from 288 respondents across various management roles within the banks through semi-structured questionnaires. The data were analyzed using thematic analysis for qualitative data and SPSS for quantitative data, including descriptive statistics, regression analysis, and ANOVA. The regression model revealed a moderate positive relationship between operational excellence and organizational competitiveness, with a correlation coefficient (R) of 0.685. The coefficient of determination (R Square) was 0.469, indicating that operational excellence accounts for 46.9% of the variability in competitiveness. The coefficient for Operational Excellence is 1.260 (standard error = 0.087, beta = 0.685), with a tvalue of 14.493 and a significance level of 0.000. The constant coefficient is -1.565 (standard error = 0.353, t-value = -4.437). This study underscores the importance of strategic investments in operational excellence practices to enhance organizational efficiency and sustainable competitive advantages. However, the study's scope is limited to tier III commercial banks in Kenya, and future research should explore additional factors influencing competitiveness and include a broader sample for improved generalizability.

Effect of Automated Identification Barcode on Procurement performance in the service sector: A case of Kenya Airways

2024-07-29T04:03:18+00:00

The paper presents the effects of automated identification barcode on procurement performance in the service sector with Kenya Airways as the case study. It also acknowledges the role played by procurement performance to improve efficiency and services in organizations. Particularly, the research aims at assessing the extent to which the adoption of automated identification barcode impacts overall procurement performance at Kenya Airways. The study adopted a descriptive research design. The target population comprised 80 staff working in the Supply Chain department at Kenya Airways. The business research employed survey data collected from questionnaires filled out by the respondents themselves. The researcher utilized descriptive statistics using SPSS version 28.0 to analyze the data. The results were presented through the use of standard deviation, mean frequencies and percentages. Based on the findings of this study, linear regression assessment was used in evaluating the level of research relation variables. The regression analysis deduced that automated identification barcode has a considerable effect on procurement performance with (β1=0.971, p=0.000). Further, the R Square value of 0.714 indicated that 71.4% of the variation in procurement performance at Kenya Airways can be explained by variations in automated identification barcode. This implies that a change of one standard deviation in the use of automated identification barcodes results in a (0.971) standard deviation increase in the procurement performance of Kenya Airways. The study illustrated a supportive opinion from the respondents that the use of automated identification barcoding makes the task of inventory retrieval easier and simplifies sourcing. It also underscores that the company needs to engage in automated identification barcode activities to address and enhance its supply chain and procurement outcomes. In conclusion, the study has offered a valuable contribution in the direction of enhancing the procurement performance of Kenya’s service sector. The study recommended a systematic approach in the reform of pursuit of procurement processes which is not only restricted to the automation of several procurement facets but also the capacity building of Kenya Airways’ staff and their suppliers when they deal with e-procurement tools.

An Evaluation of Human Resource Practices on Employee Retention in State Corporations in Kenya

2024-07-29T04:06:34+00:00

Organisations can achieve a competitive advantage by enhancing and expanding human resource knowledge, skills, motivation, and morale. The study aimed to determine the effect of performance management techniques on staff retention at the National Transport and Safety Authority-Kenya. The study focused on 2100 employees working in 15 of Kenya's National Transport and Safety Authority branches. A descriptive research design was used in the study, with a sample size of 336 respondents selected using a stratified random sampling technique. Findings showed that Staff retention is positively correlated with performance management. There was a strong positive correlation (association) (r = 0.725) between performance management and employee retention. The ANOVA findings determined the regression model's significance, from which an f-significant value of P<0.001 was derived, indicating that the model's likelihood (probability) of producing an incorrect prediction is less than 0.001. Management of NTSA-Kenya should appropriately handle aspects of employee relations management, such as HR initiatives, leadership styles, and shared values. They should also provide their employees with rewards in the form of cash bonuses, payments based on performance and pension schemes. Previous research on human resource practices and employee retention has mostly focused on the private sector, leaving a study gap on the effect of these policies on staff retention in Kenyan state corporations such as NTSA. The study, therefore, fills the gap in Knowledge of the performance management practice affecting staff retention.

The Influence of Employee Commitment on the Performance of State Departments in Kenya

2024-07-29T04:11:19+00:00

The Public Service in Kenya is encountering numerous problems that demand attention to achieve its maximum capability of delivering high-quality services to citizens. The study is to assess the influence of employee commitment on performance of state departments in Kenya. Data obtained was then analysed through descriptive statistics, frequencies and correlational analysis, that the correlation between variables organisational commitment and organisational performance is strong and significant (r = 0.610, p < 0.01), indicating a positive relationship and the findings then presented through tables, bar charts, and histograms. Research limitations are constraints of time and difficulty in gathering information from state department officers. The results revealed that employee commitment improves productivity, service delivery, cost efficiency, and a positive work environment in state departments. Thus, the state departments should implement are Strengthen Leadership and Management, Employee Engagement, Improve Working Conditions, Promote Employee Well- being, and Implement Fair Policies and Practices.