The role of strategic management on business performance: a case of sole propriator businesses in Mwembe, Kisii
Otundo, Lawrence M.
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Many business organizations today embrace strategic management as a mean for realization of improved business performance. Upon this realization many organizations have embarked on strategic management processes at there core functional areas with the aim of achieving sustainable organizational performance. This study assess the effects of strategic management on performance of owner managed retail enterprises in Mwembe market of Kisii town and establish its influence on business performance by reviewing the strengths, weaknesses, opportunities and threats of strategic management. The purpose of the study was to assess the influence of strategic management on business performance. The specific objectives addressed by this study included determination of the factors that limit business growth and expansion of sole proprietor businesses, identify the shift in product consumption and asses the growth on capital and return on investment. The study identifies the factors that influence business performance and make recommendations of strategies that enhance service delivery. The research findings from this study is useful to business as it reveals the strengths and influence of strategic management on businesses performance and reveal further outlines how strategic management can be used as a tool to enhance business performance. The target population was all sole proprietor business in Mwembe market of Kisii town. Random sampling technique was used to arrive at the sample size for this study. Systematic sampling technique was used to pick the respondents. Data was collected using an interview schedule administered by the researcher. Data was analyzed using Statistical Packages for Social Sciences (SPSS) as a tool for data analysis. Study findings showed that majority of the sole proprietors did not have business plans nor an understanding of strategic business management. Consequently, the study proposes sensitization of sale proprietors on the need to have business plans and embrace strategic management.