Rebranding Strategies and Performance of Savings and Credit Cooperative Organization in Kirinyaga County,Kenya
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Date
2021
Authors
Wairimu, Kabui Jackline
Journal Title
Journal ISSN
Volume Title
Publisher
Kenyatta University
Abstract
Many SACCOs operating in Kirinyaga County are facing fierce international and local
competition forcing relocation to other counties and shop closure to others. Different
branding strategies are being employed by SACCOS in order remain competitive in the
increasing volatile business environment. Hence this research investigated how Kirinyaga
County Savings and Credit Cooperative Organization’ performance is influenced by
rebranding strategies. The specific objectives were to examine how corporate culture
revision, product differentiation and business process reengineering influence
performance. Dynamic capability and RBV theories formed the study’s anchor.
Descriptive survey research design was adopted. Three SACCOs that have rebranded in
Kirinyaga County was the population of interest. The target population was the 172,222
ordinary members and 33 managers. In respondents’ selection simple random sampling
method was utilized and in respondents’ sampling stratified sampling was utilized.
Questionnaires were used for data gathering. The pilot study findings assisted the
researcher in improving the instrument and ensure that the questionnaires items are valid
and reliable. For data analysis, inferential and descriptive statistics. Standard deviation,
mean and distribution frequency were utilized in data presentation. Further, the study
conducted inferential statistical involving regression and correlation and analysis. A
positive and significant association between corporate culture revision, product
differentiation, business process reengineering and performance was established. The
study concluded that ability of employees in making sound decisions is supported by
corporate values, a well-defined vision and mission. The study concluded that business
process enables the organization to analyze its workflows to discover processes that are
not efficient and then optimize those processes to eliminate tasks that do not offer any
value. The study recommends that organizations should demonstrate to employees that
their involvement is critical. The study recommended that the organization should
understand the type of market where it is competing with, give consideration to what the
target client need from their product that the competing product does not offer,
differences in product attributes, have clients being able to directly access the product
online. The study recommends that the organization should first define its requirements
based on a benchmark, current state, and an ideal future state. Understand what the
current performance level is based on the objective and key performance indicators or
break the overall process into component parts and set up benchmarks within each one.
Description
A Research Project Submitted to the School of Business in Partial Fulfilment of the Requirements for the Award of Master’s Degree in Strategic Management of Kenyatta University, November, 2021
Keywords
Rebranding Strategies, Performance, Savings and Credit, Cooperative Organization, Kirinyaga County, Kenya