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EFFECTS OF STRATEGIC PLANNING ON THE PERFORMANCE OF PETROLEUM FIRMS IN KENYA: A CASE OF SELECTED FIRMS IN KENYA


Judy Wanja Mwaniki

Masters Student, Jomo Kenyatta University of Agriculture and Technology, Kenya

Dr. Makori Moronge

Lecturer, Jomo Kenyatta University of Agriculture and Technology, Kenya


ABSTRACT

The purpose of this study was to investigate the effects of strategic planning on the performance of petroleum firms in Kenya with a focus on Total, KenolKobil, Shell, OiLibya and NOC Kenya. The specific objectives were to assess the effects of government policy, innovativeness, supplier relationship and technology on the performance of petroleum firms in Kenya. This research problem was studied through the use of a descriptive research design. This study concentrated on the senior managers and other managers in different levels of management at the selected petroleum firms. Stratified random sampling technique was used to select a sample of 10% (53 respondents) was selected. The study concludes that the strategic planning approaches adopted by the petroleum firms focus on increasing their market share, providing an enhanced distribution infrastructure as well as developing long term financing for the strategic goals. From the findings, privatization of government stakes, legal compliance, licensing, level of awareness, price controls and interest rate regimes affects the strategic planning hence the performance of the petroleum firms. Innovativeness through product innovation, pricing strategy and market entry factors affect strategic planning and hence the performance of the petroleum firms. The study concludes that supplier relationship in strategic planning affects the performance of the petroleum firms. Technology affects competitiveness, customer satisfaction, process improvement and product diversification. It is necessary to adopt a minimalist government intervention approach in oil production and distribution.


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