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Effect of Customer Relationship Management on Marketing Performance of Commercial Banks in Kenya
No full textA Research Project Submitted To the Chandaria School of Business In Partial Fulfillment Of The Requirement For The Degree of Masters In Business Administration (MBA)The general objective of the study was to establish the effect of customer relationship management on marketing performance of commercial banks in Kenya. The specific objective of the study was to examine the effect of customer orientation strategies on marketing performance of commercial banks in Kenya, to assess the effect of service quality management on marketing performance of commercial banks in Kenya, to determine the effect of customer relationship marketing strategies on marketing performance of commercial banks in Kenya and to establish the effect of customer retention strategies on marketing performance of commercial banks in Kenya.
Chapter two covered a review of literature on the effect of customer relationship management on marketing performance of commercial banks in Kenya. In specific the chapter discussed the effect of customer orientation strategies on marketing performance of commercial banks in Kenya, effect of service quality management on marketing performance of commercial banks in Kenya, effect of customer relationship marketing strategies on marketing performance of commercial banks in Kenya, effect of customer retention strategies on marketing performance of commercial banks in Kenya and chapter summary.
The study adopted descriptive research design. The study targeted employees in the sales and marketing department of 43 commercial banks in Kenya. Purposive sampling technique was used to select 2 senior employees from each organization and a total of 86 respondents. Data was collected using a survey questionnaire for respondent from each commercial bank. This study used both quantitative and qualitative method of data analysis. Data was analyzed using Statistical Package for Social Sciences (SPSS). The data was presented using tables and figures. Multiple regression analysis was used to establish the relationship between the study variables.
The study found a significant relationship between marketing performance by banks and customer orientation strategies. The study established that customer orientation strategies would lead to an increase in marketing performance in bank. The study found a significant relationship between marketing performance by banks and service quality management. The study revealed that service quality management would lead to an increase in marketing performance in bank. The study found a significant relationship
between marketing performance by banks and customer relationship strategies. The study found that customer relationship strategies would lead to an increase in marketing performance in bank. The study found a significant relationship between marketing performance by banks and customer retention strategies. The study established that customer retention strategies would lead to an increase in marketing performance in bank.
The study concludes that service quality management would lead to an increase in marketing performance in bank, customer relationship strategies would lead to an increase in marketing performance in bank, customer retention strategies would lead to an increase in marketing performance in bank and customer orientation strategies would lead to an increase in marketing performance in bank.
The study recommends that the organization should put in place the customer orientation strategies, this is important because it provides the customers knowledge about organization activities. When the customers are educated on organization services they will be able to easily and conveniently access bank services. Hence this will help to improve marketing performance. The organization management should ensure service quality management in the organization. This will ensure that the best services are provided so as to remain competitive. It is also important because it will ensure that services provided meet customer needs, hence will help improve the organization customer base and marketing performance.
Organizations should incorporate customer relationship marketing strategies in their organization. This will ensure that the customer needs are met and also the customer complaints are looked into and solved. The organization will also be able to get suggestions on customers on what they would like to be improved. This ensures that the organization provides better customer services hence improving marketing performance. The organization should incorporate customer retention strategies. This will help the organization know its frequent customers and also give them bonuses. The organization will be in a better position to meet its customer needs because they’re able to interact well with them. The customers will be able to freely give opinion in organization decisions about the company products; this will ensure that products and services provided meet the customer needs. Hence improving marketing performance
Effect of Corporate Governance on Financial Performance of Listed Commercial Banks in Rwanda
No full textA Research Project Report Submitted to the School of Business in Partial Fulfillment of the Requirement for the Degree of Masters in Business Administration (MBA)The purpose of the study was to examine effect of corporate governance structure on financial performance of listed commercial banks in Rwanda. The study aimed to answer three research questions: firstly, to what extent does board size affect listed commercial banks’ financial performance in Rwanda? Secondly, how does directors’ equity interest affect listed commercial banks’ financial performance in Rwanda? Finally, how board gender diversity affects commercial banks’ financial performance in Rwanda?
The study used the descriptive research design. The longitudinal survey research approach was used to collect data. The study relied on secondary sources of data to gather information for the variables. The study adopted the purposive sampling technique. The target populations for the study were listed commercial banks in the Rwanda Stock Exchange (RSE). The sample size for the study was 3 commercial banks listed in the RSE. The data was collected from annual reports and the banks’ websites by a data collection sheet for each of the banks which collected the ROE, ROA, directors’ equity interest, board gender representation and size of the board. Data analysis was done by the SPSS Version 21. Descriptive and Inferential statistics were used to analyse the data. These were Pearson correlation analysis and regression analysis.
In regard to board size, the study found that the average size of board size of the sampled banks was 10 board members. The correlation analysis indicated a positive and significant relationship between board size, director equity interest and board gender diversity but not with ROE. The regression analysis showed that an increase in board size, directors’ equity interest and board gender diversity led to an increase in ROA and this was significant. However, this was not observed for ROE.
The study concludes that board size has a positive and significant effect on performance of commercial banks listed in the RSE; that director equity interest, board gender diversity had a positive effect on financial performance of commercial banks listed in the RSE but this was insignificant.
The study recommends that commercial banks should not exceed the average nine board members’ as this may lead to decision-making problems which are characterized by larger board of directors; that director ownership should be implemented as an emolument strategy in commercial banks to improve on their performance and more inclusion of women in their boards to enhance board diversity which has been recommended as a best practice in the corporate governance research and practice
Effect of Leadership Style and Organization Structure on Strategy Implementation in Hospitality Industry: A Case Study of Safari-Park Hotel & Casino
No full textA Research Project Report submitted to the Chandaria School of Business in Partial Fulfillment of the Requirement for the Degree of Masters in Business Administration (MBA)The purpose of this study was to examine the influence of leadership style and organizational structure on strategy implementation in the hospitality industry. Two research questions guided the study and these are; what is the influence of leadership styles on strategy implementation at the Safari Park Hotel & Casino? And, what is the influence of organizational structure on strategy implementation at the Safari Park Hotel & Casino?
The study took a descriptive approach since it was aimed at understanding the situation ‘how’ in relation to the variables under investigation. A census survey was conducted using structured questionnaires to collect data from 59 staffs of Safari Park Hotel holding the managerial and supervisory position. The collected data were then analyzed using Statistical Package for Social Science (SPSS). The study used descriptive statistics to measure the central tendency using mean scores, percentages, and frequencies. These results were then presented in tables, graphs, charts and cross tabulation. In addition, regression analysis was utilized to determine the relationship between the various study variables.
The study unveiled that charismatic, democratic and transformational leadership styles were the most predominant at the Safari Park Hotel & Casino while autocratic leadership was minimally applied.
The study also revealed that organization structure influences strategy implementation. When employees are informed about any changes throughout the process, they are, stimulated and inspired towards strategy implementation in the organization. That is, proper communication with the employees increases strategy implementation. Additionally, organizationally structure that allows timely implementation of strategies is desirable.
Generally, the study also revealed that organizational structure and several attributes of leadership style influence the strategy implementation. The study concluded that there are several leadership styles with the most influential ones being charismatic, transformational and democratic styles. More so, a leader who encourages creativity and inspires employees promotes strategy implementation.
Finally, the study recommends that proper communication between the management/leaders and employees, as well as timely implementation of strategies, stimulate strategy implementation. Further, the study recommends that sufficient allocation and distribution of both finance and personnel towards the effectiveness of organizational structure enhance the process of strategy implementation
The Effect of Internal Factors on Non-Financial Performance of Firms: A Case of DHL
No full textA Research Project Report Submitted to the School of Business in Partial Fulfillment of the Requirement for the Degree of Masters in Business Administration (MBA)The general purpose of the study was to analyze the effect of internal factors on non-financial performance of firms examining the case of DHL. This research will be governed by the following research objectives:To determine the effect of organizational structure on non-financial performance of DHL, to assess the effect of organizational leadership style on non-financial performance of DHL, to evaluate the effect of organizational culture on non-financial performance of DHL, to examine the effect of information systems on non-financial performance of DHL.
The study conducteda critical literature review in examining the effects of internal factors on non-financial performance of firms. The study adopted the funnel approach in examining global studies, regional, and local studies while conducting the critical literature review. Literature based on study objectives which include; determining effect of organizational structure on non-financial performance of firms, assessing effect of organizational leadership style on non-financial performance of firms, evaluating effect of organizational culture on non-financial performance of firms, and examining the effect of information systems on non-financial performance of firms.
This research proposal employed a descriptive research technique. The major objective of the descriptive study will be to provide a valid and accurate representation of the variables that are relevant to the research objectives. The target population of the study was top management, middle level management and the subordinate staff of DHL. Data collection was done through the use of structured questionnaires containing both open and closed ended questions to obtain both qualitative and quantitative data. The sample size from the target group was selected using stratified random sampling. Questionnaires was delivered to the respondents by hand and through electronic mail and will be collected after submission. Data analysis was conducted with the help of SPSS and presentation of study findings was presented through tables and figures for ease interpretation and understanding.
The findings revealed that a majority agreed that organizational structure supports effective controls, and that organizational structure provides a visual explanation of decision making process and resource allocation, it was also revealed that organizational structure assists management in determining departments and functions in an organization. The findings also revealed that leadership style has an effect on organizational performance and it also influenced people to achieve certain goals or objectives. It was also revealed that leadership style impacts organizational culture, employee effectiveness, and motivation in the organization. It was also was revealed that majority of the respondents agreed that organizational culture influences organizational actions and it also influenced how individuals and groups interact with each other. The study also established that information technology is a major contributor organizations success and information systems offer organizations competitive and effective communication channel.
The study concluded that organization structure is very important in supporting and effective controls over the firm’s operations. It has also been established that the structure was very vital in decision making process and resource allocation.It was also concluded that leadership style influenced the performance of the organization and this has an influence on the goals or objectives that the firm needs to achieve. In addition, organizational culture impacts the organizational actions and plays a role in determining how employees treat each other. It was also concluded that information technology plays a vital role in determining the organizations success and in order for the competitiveness and effectiveness of the firm and the level of application depends on the firm size.The study further shared its recommendations and the need to further studies to determine how other internal factors such as innovation or industry affect non-financial performance.
Effects of Macro-Economic Factors on the Financial Performance of Mutual Funds in Kenya
No full textA Research Project Report Submitted to the Chandaria School of Business in Partial Fulfillment of the Requirement for the Degree Masters in Business Administration (MBA)The general objective of this study was to examine the Macro-Economic factors affecting the financial performance of mutual funds in Kenya. Specifically, the study sought to determine how interest rate affect performance of mutual funds in Kenya, to investigate how exchange rate affect performance of mutual funds in Kenya and to examine how inflation, affect performance of mutual funds in Kenya. This study reviews literature, on macro-economic and micro-economic factors affecting the performance mutual funds in Kenya. In specific, the chapter has reviewed how interest rate, exchange rate and inflation affect mutual funds.
The research problem was studied through descriptive survey design. The target population of the study was Mutual funds registered in Kenya by CMA. The period of the study was 2011 and 2016. This research utilized secondary data from seven mutual funds and the data was chosen because they are readily available than primary data. Secondary data was collected from the mutual funds’ annual reports. The data collected was analyzed using regression and correlation analysis. Data analysis was done using SPSS Version 24
To analyze the first objective, the study sought to establish the effect of interest rates on mutual funds and the findings revealed that there was a positive relationship between interest rate and performance of mutual funds. On the other hand, the findings revealed a positive and significant relationship between performance of mutual funds and interest rates. To analyze the second objective, the study sought to establish the effect of exchange rates on mutual funds and the findings revealed that there was a negative relationship between exchange rate and performance of mutual funds and a correlation analysis done revealed that there was a negative relationship between performance of mutual funds and exchange rates.
To analyze the third objective, the study sought to establish the effect of inflation rates on mutual funds and the findings revealed that there was a negative relationship between exchange rate and performance of mutual funds and A correlation analysis done to establish the nature of the relationship between performance of mutual funds and inflation rates and the study revealed a negative correlation. A regression analysis was done to establish the nature of the relationship between the variables and the findings revealed the R squared value was 0.988 which implies that 98.8% of the variations in performance of mutual funds was caused by the variations in interest rates, exchange rates and inflation.
The study concluded that Interest rates are never constant and the sudden changes as experienced, may have a positive or a negative effect on mutual funds. The regression analysis results indicate that interest rate change has a high impact on performance of Mutual funds. The findings reveal that exchange rates negatively affect exchange rate and performance of mutual funds. Similarly, a negative relationship exists between performance of mutual funds and exchange rates. This implies that mutual funds are exposed to exchange rate risk exposures and there is a need to mitigate against such eventualities. Inflation rates on mutual funds and the findings revealed that there is a negative relationship between inflation and performance of mutual funds. Similarly, correlation analysis between performance of mutual funds and inflation rates and the study revealed a negative correlation. This therefore imply that in order for the mutual funds to perform well there is a need to mitigate inflation.
The study recommended that due to interest rates volatility, sudden changes may result into a positive or a negative performance on mutual funds. It is therefore essential for the mutual funds to have in place laid down strategies to mitigate against interest rate volatility, alternatively, the funds need to invest diverse portfolio. It was also recommended that mutual funds must undertake strategies such as hedging exposures and there is a need to mitigate against such eventualities. As a result, mutual funds may mitigate this risks by hedging against such risks by purchasing spot contract to cushion against any negative eventualities. It was also recommended that mutual funds need to make ample inflation adjustments so that during high inflation the firms do not run losses.
The study recommended that further studies should be undertaken on other micro economic variables such as Gross Domestic Products (GDP), in addition this study was undertaken over a 5 year period, it is necessary to undertake a the same research over a longer period in order to generalize the findings
An Assessment of Internal Customer Service as a Competitive Advantage in Organizations: A Case of Jubilee Insurance Limited
No full textA Research Project Report Submitted To the Chandaria School of Business in Partial Fulfillment of the Requirement of the Degree of Masters of Business Administration (MBA)The objective of the study was to determine the effects of internal customer satisfaction on service delivery in Jubilee Insurance Company. Specifically, the study sought to establish the effects of internal customer service as a competitive advantage, the strategic challenges affecting internal customer service and the strategies for ensuring a high level of Internal Customer Service as a source of Competitive Advantage.
The study adopted a descriptive research design to ensure that the research problem is well structured and understood. The descriptive research design emphasized on the strength of relationship between internal customer satisfaction and service quality delivery. The study employed the use of questionnaires to obtain relevant information from respondents. The study adopted the census sampling technique to collect data from the relevant respondents. The study focused on 57 respondents who were staff support of Jubilee Insurance Company. The study conducted a pilot study to test the validity and viability of the data collection instrument (questionnaire), from which data was analyzed using descriptive and inferential statistics. Data was presented using tables.
The findings based on the first research question revealed that the most significant effect of internal customer service is enhanced customer care/service, followed by increased team spirit among workers, and improved company image. The findings based on the second research question revealed that employee acceptance is the highest strategic challenges affecting internal customer service in Jubilee Insurance Company, followed by Organizational Structure, Lack of effective communication of strategic plan, Alignment of Responsibility, as well as Inadequate information systems used to monitor strategy implementation. The findings based on the third research question revealed that the most significant strategy for ensuring a high level of Internal customer service is to enhance coordination and sharing of responsibilities, followed by competitor analysis surveys, technology driven services, enhance effective communication and relevant Systems in place.
The study concluded that through properly marched organization structure, good leadership and governance, culture-based improvement and variation-based improvement there is enhanced competitive advantage in organization
The study recommends the organizations to effectively implement customer service quality strategies to increase their sales volume enhance customer satisfaction and increase customer loyalty and that companies to employ innovative managers who can instill innovative culture in an organization. In addition the study recommends companies to keenly observe challenges that affect the smooth implementation of customer service quality strategies. From the study, managers are recommended to align all tasks and responsibilities to relevant departments so as to achieve customer service quality
The Impact of Corporate Governance On Financial Management of Public Secondary Schools in Kenya: A Case of Siaya County
No full textA Research Project Report Submitted to the Chandaria School of Business in Partial Fulfilment of the Requirement for the Degree of Masters in Business Administration (MBA)This study sought to investigate the impact of corporate governance on financial
management of public secondary schools in Kenya. The specific objectives of the study
were to: To establish the impact of the board composition on financial management of
secondary schools, to establish the composition of board skills on the financial
management of public secondary schools, and to analyse how the application of corporate
governance principles impacts the financial management of public secondary schools.
This study utilised descriptive which was considered valid in this study as it was
concerned with finding out who, what, where, when or how much the variables of study
were affected. The study was undertaken among the 41 secondary schools in Siaya
County the target population comprised of 205 respondents who were either Chairman.
Treasures, parent teacher association member, board of governor member or auditor in
the respective institution. Using stratified sampling a sample size of 137 was arrived at
although only 110 responded giving an 80% response rate which was considered
sufficient. Questionnaires was used as a data collection tool and using SPSS version 20,
the descriptive and inferential statistics was computed.
The analysis revealed that majority were aware of budgeting practices in schools and as
board member, they oversee supply chain management, movable asset management and
control. It was also noted that the members prioritise on use of scarce resources to ensure
effective stewardship over public money and assets and most of the respondents were
actively involved in planning and implementation of the financial plan, accounting and
reporting on funds management. A positive correlation was established thus a positive
change in board composition led to a positive change in financial management.
The findings also revealed that presence of accounting knowledge was vital in order to
improve financial management in schools and the board had illustrated governance
expertise in the last five year. It was also established tenure of board member affected
financial management and all members had information on projects undertaken by the
school. Positive correlation revealed that with every positive change in board skills there
is a positive change in financial management
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Lastly the findings revealed that management and board of director’s are efficient and
have capacity to perform their duties properly and it was also established that there are set
rules and policies that generate information on roles and responsibilities. The members
were also found to be able to effectively manage issues of procurement, allocation and
control of financial resources although there was no clear response on difficulties in
managing large volumes of paper work. Positive correlation revealed that with every
positive change in corporate governance there is a positive change in financial
management.
The study concluded that secondary schools in Siaya have in place budgeting practices
that board members are aware of. In addition as a form of transparency the board oversee
supply chain management, and movable asset management and control. Members are
actively involved in the various processes of financial management such as the planning,
implementation, planning as well as accounting and reporting on funds management. It
was also concluded that board members possess the vital accounting knowledge so as to
be able to improve financial management in schools. At the same time it is advisable to
have in place a stipulated period by which members can hold the position so as to not
jeopardize financial management in the institutions. The study revealed that it is vital for
the management and board of director’s to be given the support necessary for them to
perform their functions efficiently, and to ensure this is achieved there is set rules and
policies that generate information on roles and responsibilities.
The study recommended that Board members need to adopt use of technology in
budgeting practices and overseeing supply chain management and asset management and
control. Issues of integrity should be continuously addresses to guarantee smooth
operation of the institutions. When assigning roles the member’s in charge of financial
matters need to ensure that they have the required accounting knowledge to perform their
finance roles effectively. Board of director’s need to be efficient and have the necessary
capacity to perform their duties properly in addition, the rules and policies should be
shared with all to minimize clash of roles.
There is a need to extend this study to other counties in Kenya. Similar studies also need
to be done in private schools so as to be able to compare with the findings and come up
with the necessary policies for effective fund management
Behavioral Finance Factors Affecting Investment Performance by Retail Investors in the Nairobi Securities Exchange
No full textA Research Project Report Submitted to the Chandaria School of Business in Partial Fulfillment of the Requirement for the Degree of Masters in Business Administration (MBA)Although finance has been studied for thousands years, behavioral finance which considers the human behaviors in finance is a quite new area. Behavioral finance theories, which are based on the psychology, attempt to understand how emotions and cognitive errors influence individual investors’ behaviors (investors mentioned in this study are referred to individual investors).The study sought to answer the following questions: What are the behavioral factors influencing individual investors’ decisions at the NSE and which factors do they belong to? How do the behavioral factors influence the individual investor’s decisions at the NSE? How do the behavioral factors influence the investment performance of individual investors at the NSE? The main objective of this study is exploring the behavioral factors influencing individual investors’ decisions and consequential effect on the investment performance at the Nairobi Securities Exchange
To meet the objectives of the study, a Causal survey design was chosen. Primary data was collected using self-administered drop and pick questionnaires. Cronbach's Alpha Test was used to test the internal consistency reliability of measurements, which are in formats of continuous variables 6-point Likert measurements. The research identified 98 potential respondents who agreed to take part in the study. 86 respondents filled the questionnaires in time for data analysis, which represented an 88% response rate. The study makes a finding that, the education is a critical factor that wields significant influence on the success of retail investors. The study makes a finding that, the average estimate for work experience among many traders at the NSE, is 10 years (The range 5 – 10 years).
The study established that retail investors make a critical evaluation of the market fundamentals before making an investment decision, which registered a mean of 5.40, with standard deviation of 0.538, and variance of 0.259 which indicates that, the respondents were highly in agreement that, stock traders tap into the market fundamentals of underlying stocks before making investment decisions. The study established that the other investor factor on the stock choice was highly influential on the retail trader’s investment decisions, recording an average mean of 4.76, with a standard deviation of 0.936 and variance of 0.869. The study makes a finding that the most significant effect of behavioral factors is the cautionary approach gained by retail traders on price fluctuations with an average mean of 5.35. The study makes a finding that, there exists a positive correlation between market behavioral factors and the performance of stock investments, recording a p-value of 0.000, at significance level ,0.01 and an R2 value of 0.491. The study finally makes a finding that, there exists a significant positive association between individual finance behavioral factors and the performance of stock investments with a p-value of 0.000 at significance level 0.01, and an R2 value of 0.372.
The study concludes that the stock trader makes a comparative analysis on the all the critical factors that have direct correlation between the performance potential of a stock and the prevailing market condition such as market liquidity and the stability of the macroeconomic environment. The study concludes that inexperienced traders are more likely to seek investment advice from friends and relatives whereas the experienced traders would rely with market fundamental factors and information on particular stock. The study concludes that, there is direct correlation between behavioral factors and the returns on stock investments.
The study recommends that investors adopt a broad information use in making investment decisions at the capital markets. The study recommends that individual investors should seek insights into technical data provided by companies listed at the NSE. The study recommends that investment managers at investment firms pursue initiatives to encourage traders to diversify their portfolios as a strategy of tackling the uncertainties that encompass local listed companies
Human Resource Management Strategies That Influence Millennial Engagement at the Workplace: A Case of on mobile Global Limited Kenya
No full textA Research Project Submitted to the Chandaria School of Business in Partial Fulfilment of the Requirement for the Degree of Masters in Business Administration (MBA)This study sought to examine Human Resource Management (HRM) strategies that influence millennial engagement at the workplace. The study was guided by objectives that were set to: determine the influence of job design in engaging the millennial workforce at the workplace, examine the influence of career management opportunities in engaging the millennial workforce at the workplace, and determine the influence of incentives in engaging the millennial workforce at the workplace while focusing on OnMobile Global Limited Kenya.
Descriptive research design was used to explain the strategies that the human resource (HR) department at OnMobile Global Limited can use to motivate its millennial employees. The population of this study consisted of all employees at OnMobile Global Limited who were 235 in number. This study used stratified sampling technique whereby, four sub-populations of the organization’s staff were selected. Simple random sampling technique was used to select the study sample. The sample size of the study was 70 employees. Primary data was collected through the use of questionnaires. Data analysis in the study was descriptive. Statistical Package for Social Science (SPSS) computer software was used for data computation. Data analysis included measures of central tendency like means and percentages. Measures of variability included standard deviations. Correlation analysis was used to determine the existing relationship between the study variables. Inferential statistics was used to examine the study variables. The data from the findings was presented in the form of figures and tables.
The study reveals that when employees work on a small part of a project, they were unable to identify with the finished project in terms of the effort they put, and they find themselves unfulfilled when doing standardized jobs where they cannot bring in their own ideas and knowledge to the job. The study also shows that employees find themselves fulfilled with modest contributions to the organization when they understand their job/ work role and their overall contribution to the company’s mission, and preferred standardized job process that will help them know exactly when and where they have to do certain tasks and lower their mistakes on the job.
The study shows that employees have clear and concise plans that enable them to analyse potential career areas, and determine the skills, competencies, and knowledge necessary to advance their careers. From the study, it is concluded that, OnMobile Global does not have career development programs that enrich its employees’ skills and knowledge that would make them fit for future positions and emergent roles in the organization, and neither does it view training and development of employees as an instrumental role in maintaining employee satisfaction, engagement, and performance.
The study indicates that having a continuous training and development throughout a career will keep employees engaged with the company, and a pleasant working environment will facilitate employee engagement with the organization. Trust and justice elements are important to employees in terms of creating a pleasant working environment which will ultimately enhance their engagement as well as having flexible working hours. OnMobile Global employees do not use the work-life balance programs because of poor communication about the program availability and improper implementation, and there is subtle negative communication from managers and co-workers towards employees that used flexi-time programmes in their job.
The study has led to the conclusion that employees find jobs that are high in skill variety more challenging as this enhances their personal development and growth. It is further concluded that millennial employees find standardized jobs unfulfilling and they would rather work on jobs that require them to use their own ideas and knowledge. It is obvious from the study that employees are fulfilled when they make contribution to the organization. Further, appropriate administration on pay schemes such as pay rise would have a positive impact on employees in terms of engagement, and having stock options would increase the employees’ level of engagement in the company, and would improve job satisfaction. What has also come out clearly in the study is that having a continuous training and development throughout a career would keep employees engaged with the company, as well as a pleasant working environment. Trust and justice are also key elements to employees in terms of creating a pleasant working environment which would ultimately enhance their engagement as well as having flexible working hours.
This study recommends OnMobile Global management not to ignore the influence of job design and redesigning millennial employee engagement. The study recommends the management of OnMobile Global to implement training programs that would facilitate carer development of its staff in order to maximize on their employees’ potential. The study recommends the organization to have a clear and concise communication of all millennial employee engagement programmes available, to ensure its employees make use of them
An Investigation of Cash Management Practices of Savings and Credit Cooperative Societies in Nairobi County
No full textA Research Project Report Submitted to the Chandaria School of Business in Partial Fulfillment of the Requirement for the Degree of Masters in Business Administration (MBA)The general objective of this study was to investigate cash management practices of Savings and Credit Cooperative Societies (Saccos) in Nairobi County. Specifically, the study sought to establish the internal control practices applied in cash management in Saccos in Nairobi County, to establish the challenges faced by the Saccos in cash management practices, and the measures which can improve cash management practices.
Descriptive research design was used on a target population of 64 Saccos located in Nairobi County. Using stratified sampling technique, a sample size of 39 Saccos was selected, and data collected by use of a self-constructed questionnaire. Descriptive analysis was used to analyze the data, while statistical inferences were made by use of regression and correlation analysis.
The study showed that most of the Saccos in Kenya do not have clear defined lines of authority and responsibility in their organization structure, and they do not maintain authorization procedures for their transactions. They also do not have adequate supervision to monitor their operations. The study revealed cases where proper budgets and budgetary control were not adhered to, lack transparency in conducting affairs in terms of cash transactions, loan disbursements, payments and member statements within these organizations. As a result, the Saccos lack appropriate measures to identify risks of fraud and misappropriation of funds. The study recommends that Sacco managers ensure that they use cash management systems in order to minimize fraud and fund misappropriation, as well as improve their ability to identify and prevent risks.
Further findings show that strategies are not in place to prevent cash flow problems. For instance, cash flow projections have not been put into consideration whereby, overhead expenses are more than income received. The study revealed cases where customers had been dissatisfaction and their issues had not handled, moreover, most of the institutions lack corrective measures that would be effective in dealing with customer complaints and dissatisfaction. This is further aggrieved by the fact that staffs in these institutions are incompetent and unqualified, since they lack relevant
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training that would increase their competency and keep them abreast with the changes that occur in their relevant fields.
The study also revealed that innovation was almost non-existent since the institutions did not have new products and services which were fair, attractive and appealing to their customers, and the existing products and services did not suit members’ needs. They also lack adequate consultation with members when coming up with new products. The study revealed that employees both middle and top level lacked the professional skill of cash management, and were neither competent nor qualified because they lacked training on financial management, human relation, interpersonal skills, and customer care. The most of the institutions lack effective management committees which foster customer loyalty, and this leads to their members refusing to identify with their products. Furthermore, the terms pegged on their loan policy were not within the reach of their members, which aggravated the situation.
This study recommends the management of the Saccos to ensure that their organizations have appropriate accounting measures that will allow for accountability, prevent financial risks and misappropriation of funds. These measures should also ensure that loan processes are valid and have been verified before the disbursement of funds