STRATEGY FORMULATION DRIVERS AND PERFORMANCE OF FLOWER EXPORTERS, KENYA
Abstract
ABSTRACT
Several research studies have reviewed how strategy formulation drivers affect the performance of different organizations. However, no such study has been done on flower exporters in Kenya. Therefore, this research studied the strategy formulation drivers and performance of flower exporters in Kenya. The following specific objectives guided this; to examine the effect of organization vision statement on performance of flower exporters in Kenya, and to evaluate the effect of strategic organization communication on performance of flower exporters in Kenya. The study was steered by vision theory and communication theory. A descriptive research design was employed. The target population was (20) senior managers and (53) middle managers in Terrasol flower farms, selected through censors. The researcher used structured questionnaires derived from the research objectives to generate primary data, and was administered to the participants through drop-and-pick methods. Secondary data was collected from the internet, various publications, journals, annual reports and books. A pilot study was carried out to ensure the effectiveness of the data collected. Data obtained was analyzed via Statistical Package for Social Sciences (SPSS) version 28 software. Descriptive and inferential statistics were tabulated in tables. The study concludes that the organization's vision statement and strategic corporate governance are strongly related to the performance of flower exporters in Kenya. Therefore, the study recommends that flower exporters in Kenya have a clear vision statement since it provides a roadmap to achieving the desired future and motivates people to perform better. They should also have efficient and timely clearly defined communication with a proper feedback system that addresses issues raised by internal and external stakeholders to increase customer loyalty and cohesion within the organization. A similar study should be done on other strategic management areas to ascertain the drivers of strategy formulation.
Key Words: response strategies, organizational performance, innovation strategy, risk management
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