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Strategic Planning Impacts on the Performance Dynamics of Micro Enterprises in Kisumu County: An in-Depth Analysis

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  • Dr. Oloo Caroline, PhD

    (BBA.,MBA., MA., PhD (Entrepreneurship) Department of Business Administration, Maseno University, Kenya)

Abstract

Strategic planning is integral for the success of micro enterprises, as evidenced by this research. It involves envisioning a desired future, defining goals, and outlining steps to achieve them. The study focused on the effects of strategic planning on micro enterprises around Kisumu county, employing primary data collection through questionnaires and interviews. Utilizing the ‘Kobo collect’ app and printed questionnaires, a 73.33% response rate was achieved. Findings indicate that strategic planning aids micro enterprises in Kisumu county by identifying market opportunities, strengths, weaknesses, and formulating strategies for success. Benefits include improved performance, resource allocation, communication, and innovation. Challenges, such as limited resources and resistance to change, were also identified. Effectiveness depends on stakeholder involvement, alignment with company culture, use of social media, flexibility, and ongoing monitoring. Recommendations include aligning the strategic plan with the organization’s mission, vision, and goals, involving stakeholders, effective resource allocation, and frequent monitoring and evaluation to ensure success.

Suggested Citation

  • Dr. Oloo Caroline, PhD, 2024. "Strategic Planning Impacts on the Performance Dynamics of Micro Enterprises in Kisumu County: An in-Depth Analysis," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(3), pages 219-232, March.
    • Handle: RePEc:bcp:journl:v:8:y:2024:i:3:p:219-232
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    References listed on IDEAS

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    5. Marc Helmold, 2020. "Total Revenue Management (TRM)Total revenue management (TRM)," Management for Professionals, in: Total Revenue Management (TRM), chapter 1, pages 1-12, Springer.
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