Internal Growth Strategies and Performance of Kenya Prisons Enterprise
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Date
2021
Authors
Ojiambo, Nickson Bwire
Journal Title
Journal ISSN
Volume Title
Publisher
Kenyatta University
Abstract
Recently, much attention has been paid to internal development plans and organizational success. The focus is on business development, product development, market entry and diversification strategies as a lineage for the organization's internal growth, in response to growing interest in both the local (Kenyan market) and global market. Previous studies have confirmed simple direct links that are not integrated with other contextual features of the market, as supported by several theoretical arguments in favor of such links. If implemented properly, these strategies can contribute to a company's sustainable competitive advantage. This study attempted to examine the impact of internal growth strategy on the performance of the Kenyan Prison Company at the Shimo la tewa prison. A particular focus was to determine the impact of market development, product development, market entry, and diversification on performance. The research variables in this study were based on resource-based view theory, Ansoff's model, and contingency theory. A cross-sectional descriptive analysis design guided the investigation. Prison officers at the management and artisan levels were randomly recruited using stratified sampling as the target population. Primary data was collected using structured questionnaires. The characteristics of the study variables were defined using descriptive statistics such as frequency, percentage, mean, and standard deviation. The relationship between the independent and dependent variables was established using inferential statistics such as correlation and multiple regression analysis. Data was described in the form of graphs and tables. The results of the regression analysis were used to demonstrate the link between the independent and dependent variables. Market development strategies (=0.349, p=0.000), market penetration strategies (=0.183, p=0.009), diversification strategies (=0.157, p=0.010), and product development strategies (=0.325, p=0.000) have all been found to have a positive and significant relationship with the performance of Kenya Prisons Enterprises-Shimo la Tewa Prisons industries. From the findings, the study concludes that market development strategies, product development strategies, market penetration strategies and diversification strategies have a positive and significant influence on the performance of Kenya Prisons Enterprises-Shimo la Tewa Prisons industries. The study recommended that firms should emphasize on internal growth tactics such as product and market advancements in bid to ensure that their internal capabilities drive their competitiveness through the roof. In extension, methods involving diversification has been acknowledged by other scholars to induce an element of spreading risks. Therefore, firms could leverage the idea and mitigate short- and long-term risks via product and market diversification.
Description
A Research Project Submitted to the School of Business in Partial Fulfillment of the Requirements for the Award of Degree of Master of Business Administration in Strategic Management at Kenyatta University, December 2021
Keywords
Internal Growth Strategies, Performance, Kenya Prisons Enterprise