The effects of strategic management practices on Yehu Microfinance Trust Fund, Mombasa County
Mucheke, Julius Njihia
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The benefits of strategic management in the modern organizations can not be gainsaid. It enables managers to scan both internal and external environment, so as, to position their organizations to eliminate internal weaknesses, convert threats to opportunities, build on their competencies and seize opportunities. It further enables managers to identify their organizations' position in the environment, in terms of, where they are coming from, where they are, where they are going and whether there on tract toward their desired destination, so that, if need be, new road maps are drawn early enough. Microfinance institutions just like other organizations needs to adopt strategic management in order for them to meet their organizational goals and enable the poor to break: the cycle of poverty. The purpose of this study was to examine the effects of strategic management practices on Yehu Microfmance Trust, Mombasa County. The study was guided by the following specific objectives; to examine the extent to which strategic management practices are adopted at Yehu Microfmance Trust Fund; to examine the effects of strategic management practices on Yehu Microfinance Trust Fund and to assess the relationship between strategic management practices and performance at Yehu Microfinance Trust Fund. Case study and descriptive research designs were adopted. The target population was the C.E.O., six Departmental Heads and fifteen supervisors. Given the small size of the target population census method was employed. Semi-structured interview guide, open and closed questionnaires and observation were adopted as instruments of data collections. Content analysis was used to analyze data. This involved organising, sorting out, coding and thematically analysing, searching for meaning, interpreting and drawing of conclusions on the basis of concepts, management practices and conceptual framework discussed in Chapter Two. The study established that; strategic management practices are fairly adopted at Yehu Microfinance; there are positive effects of strategic management practices on Yehu Microfmance Trust Fund and that there is a close relationship between strategic management practices and performance at Yehu Microfinance Trust Fund. The findings of this study led to the following recommendations; that all microfinance institutions adopt strategic management practices for improved performance and for the benefits of their stakeholders; that donors in micro finance sector peg their continued engagement on the adoption and evaluation of strategic management practices by microfmance institution; that there is need to enhance capacity building, in strategic management in microfmance institutions, by donors, government agencies and other agencies so that MFIs can reap the benefits of strategic management practices. Future researchers could: replicate this research in other micro fmance institutions; conduct, in-depth and broad research on how internal and external environments affect strategic management in Microfinance institutions or conduct an empirical study on the socio-economic impact of micro finance institutions in Kenya.