Determinants Affecting Implementation of Blue Ocean Strategy in Liaison Group Insurance Brokers and Its Effects on Organization Performance.
Ndungu, Julius Kitheka
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In Kenya, 0ver 75% of insurance companies employ red ocean strategies to outperform competitors and acquire many customers in the existing insurance market. Only less than 10% of insurance companies have attempted to implement blue ocean strategy by offering new insurance services in the target market and thus successful implementation of Blue Ocean strategy remains as a major hindrance to the growth and development of insurance industry in the country. The main objective of the research study is to investigate determinants Affecting implementation of blue ocean strategy in Liaison Group Insurance Brokerage and its effects on organization performance. The study specifically aims to; establish the effect of strategic leadership on the implementation of blue ocean strategy in Liaison Group Insurance Brokerage and its effects on organization performance; assess the effect of core competencies on the implementation of blue ocean strategy in Liaison Group Insurance Brokerage and its effects on organization performance and determine the effect of organizational structure on the implementation of blue ocean strategy in Liaison Group Insurance Brokerage and its effects on organization performance. The study population will comprise of a total of 180 employees working at Liaison Group Insurance Brokers offices situated in Nairobi. The study will adopt a probability sampling design by applying a stratified random sampling technique to select a sample size of 54 respondents. Questionnaires will be used as the major data collection instruments and they will be self administered to the respondents in the sample size. A pilot study will be undertaken to pretest the questionnaires for validity and reliability. The gathered data will be analyzed using descriptive statistics and inferential statistics aided by Statistical Package for Social Scientists (SPSS). The findings will finally be presented using tables and charts. The study is of significance to management of insurance brokerage firms, strategic managers and scholars since it will extend the knowledge base on the determinants affecting the Implementation of Blue Ocean Strategy in Insurance firms in Kenya and Its effects on Organization Performance, A case of Liaison Group insurance Brokers. The concept of blue ocean strategy is relatively new to the majority of insurance companies in Kenya and the obtained findings will help to raise awareness among insurance managers unacquainted with the potential applications and benefits of blue ocean strategy in insurance industry.