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Effect of Financial Inclusion Strategy on Performance of Small and Medium Enterprises: A Case of Selected SMEs in Dar es Salam, Tanzania
No full textFinancial inclusion has enabled many organizations to deliver affordable costs to sections of disadvantaged and low-income sectors of the society. This has facilitated the operations of the business activities especially in Small and Medium Enterprises. The main purpose of this study was to establish the effects of financial inclusion strategies on performance of small and medium enterprises in Tanzania. The study was conducted on selected SMEs in Dar es Salaam, Tanzania. The target population consisted of 93,430 in three districts of Dar es Salaam, where a sample of 240 respondents were selected by use of purposive non-probability sampling. Questionnaires were administered and the data collected and analyzed by use of Statistical Package for the Social Sciences (SPSS). From the key findings, it emerged that the respondents agreed that financial access point were made closer to where people live, access and use of financial services increased competition due to adopting new skills and technology, access and use of financial services increased profitability and growth of business and some of the challenges faced by SMEs in employing financial inclusion strategies were unforeseen market changes, not being involved in making strategies. The study recommended the sensitization of financial inclusion strategies to the beneficiaries and cooperation between financial institutions and SMEs in formulation of realistic strategies.
Keywords: Financial inclusion, Strategies, Challenges, Performance and Small medium Enterprises
Influence of Talent Management on Competitiveness of Insurances Firms in Kenya: A Case of Britam-Kenya
No full textThe purpose of the study was to investigate influence of talent management on competitiveness of insurances firms in Kenya: A Case of Britam-Kenya. This study used descriptive survey method to collect both quantitative and qualitative data that helped analyze the talent management process in Britam. A study population of 112 was drawn from 326 employees from Britam working in the greater Nairobi Region. The study used primary data using structured and unstructured questionnaires on which a pilot study had been earlier conducted to test its reliability. The collected data was compiled in an electronic spreadsheet and analyzed using a Statistical Package for Social Sciences (SPSS) version 22. The presentation of the findings involved use of tables, pie charts and bar charts while correlation analysis and regression analysis examined the relationship between influences of talent management and the attainment of competitive advantage. The study revealed that the acquisition of talent with the appropriate competencies and their further training to horn the requisite skill repertoire is critical. The study further established that retention of the talented staff was essential just as is the need to ensure an effective supply of talent through succession planning. It was evident that insurance companies need to identify unique ways to develop competitive advantage over their competitors by advancing talent management initiatives. The findings of this study are useful to insurance companies in deploying talent to leverage existing use of data and analytics to generate greater insight in managing risks, seek to utilize new approaches to underwrite risk and predict loss, and enable competitiveness with sophisticated operational capabilities.
Keywords: Talent Management, Competitiveness, Insurances Firm
Transformational Leadership Style and Staff Performance of Commercial Banks in Kenya: A Survey of Commercial Banks in Nairobi City County
No full textThe staff performance of commercial banks has been deteriorating overtime as per the findings of survey done by PWC (2013) that established that 97% of Kenya business leaders agree that their firms needed to retain talent by adopting good leadership styles. Leaders influence employee's job satisfaction which eventually affects employee job performance and ultimately overall organizational performance. The study determined the influence of transformational leadership style on employee performance: A case study of commercial banks in Nairobi County. The specific objectives of the study were, to establish the effect of idealized influence, inspirational motivation, intellectual stimulation and individualized consideration on the staff performance of commercial banks in Nairobi County. The target population for this study was 5000 employees in commercial banks within Nairobi County. Random sampling was used to select 196 employees from seven commercial banks sampled purposively. Primary data were collected using a questionnaire. The study found out that idealized influence has a positive and significant effect on staff performance (B=0.125, p=0.017), inspired motivation has a positive and significant effect on staff performance (B=0.130, p=0.004), intellectual stimulation had a positive and significant effect on staff performance (B=0.201, p=0.021). Similarly, results showed that individualized consideration had a positive and significant effect on staff performance positively and significantly related (B =0.124, p=0.000). The study advocates for the recognition of individual efforts, giving personal compliments for doing outstanding work, provides rewards such as praise and acknowledgement of effort for achievement of specified goals, encourage personal attention to employees who look neglected and lonely, encourages individual risk-taking, innovation, freedom and uniqueness at work and give individualized bonuses and commissions for good performance attained. The findings from this study have implication to the theory, academia, policy formulation and industry practice. The study is significant to the banking industry sector and the service industry. The study brings out the main areas of concern in the performance of staff in service industries. It gives suggestions on how transformational leadership can be fully applied to enable the service sector to achieve its goals and objective.
Keywords: Idealized Influence, Inspirational Motivation, Intellectual Stimulation, Individualized Consideration, Staff Performance, Commercial Banks, Nairobi Count
Employees Empowerment and Organizational Performance: A Case of Nyeri Catholic Secretariat
No full textNyeri Catholic Secretariat is a key stakeholder in Nyeri County where it has established schools, hospitals, colleges, commercial farming, press, social development projects among other projects. Through different departments, NCS has equipped the Catholic Archdiocese of Nyeri in its mission of evangelization, social development, health provision and financial development. NCS employs hundreds of workers making it a top employer, a key service provider and a business partner to many organizations. NCS has traditionally been applying bureaucratic and hierarchical management style which is increasingly becoming unviable in the contemporary business set up. A people friendly, participative management style where employees have authority to decide is preferred for competitiveness and survival of organizations. This study examined the contribution of the practice of staff empowerment on the overall performance of an organization with a specific reference to Nyeri Catholic Secretariat (NCS). The study was guided by Bowen and Lawler (1995) conceptualization of empowerment as a product of power, information, knowledge and reward. This study was guided by the following research questions: how does delegation of authority affect organizational performance? How does information dissemination affect organizational performance? What influence does knowledge sharing have on organizational performance? What influence does employee reward have on organizational performance? Employee commitment is taken as a moderating variable. A case study research design was used in the study. The target population comprised of 810 employees from the various departments of NCS which include educational, health, pastoral, hospitality, social, communication, security, agricultural and pastoral industries departments. The sample size was 270 employees from the total target population. Both stratified sampling design and simple random sampling procedures were used to arrive at the sample size. Questionnaire was chosen for data collection. The collected data was analyzed quantitatively whereby descriptive statistics including percentages, tables and charts were used to summarize the data. The following key findings were made: delegation of authority enhances mutual trust between management and non-managerial staff, buildsloyalty, sense of belonging and it quickens decision making process.Information is power and it should be effectively shared to equip every worker with sufficient information to enable him or her decide and execute a given mandate in line with strategic goals. Sharing of work related information enhances operational efficiency, improves team work and coordination. Sufficient knowledge should be shared with the workers to ensure they have the requisite mental and psychological capacity that match with their particular assignments and responsibilities. Good outcomes and behavior, innovation, sense of responsibility and other positive values should be rewarded. Sharing power, information, knowledge and rewarding effectively could boost employees' morale and commitment for improved organizational performance.
keywords: Delegation, dissemination, knowledge sharing, reward,organizational performance
Prototyping a Credit Scoring Model for Micro Finance Institutions in Kenya: A Case of Kenya Women Fund Trust (KWFT) Bank
No full textCredit scoring models are measurable examination utilized by credit authorities to assess your value to get credit. It breaks down the attributes and characteristics of past loans to foresee the performance of future loans. The KWFT client fits the demographic profile of a woman of the age between 25 to 60 years old. Given that for the KWFT client base, much of their financial information is limited and therefore judgmental and group security approach is mainly used. The study sought to prototype a behavioral credit scoring model that predicts the probability of defaulting on loan payments. The system for building the credit scoring models included the accompanying procedure which entailed ‘performers’ and ‘defaulters’. The target population was 800,000 clients spread across 230 branches. The study used data of 20 best credit performing clients and 20 poor performing clients in all branches in Nairobi County and environs. A total of 480 clients were therefore sampled. Modeling techniques used was logistic regression. The study involved the delivery of a software based prototype. Findings indicated that the odds of defaulting was 1.497 times greater for males as opposed to females and the relation was significant, all classes of age were not significant determinant of performance rating. The study established that individual unmarried was highly likely to default as opposed to individual married, the relation however is insignificant. Group membership was found to greatly predict the rate of default. The study concluded that defaulting was based on information, and in microfinance, this information was usually qualitative and informal and resides with group members or with loan officers. It was recommended that senior management should see the strategic value in developing, implementing, and using scorecards as an integral approach to managing risk within microfinance.
Keywords: Credit scoring, Prototype, Defaulting, performing and Microfinanc
Role of Information Communication and Technology in Enhancing Security in Urban Areas in Kenya: A Literature Based Review
No full textICT and other advanced technologies are becoming a powerful tool for responding to criminals, engaging in hotspots policing, solving violent crimes, monitoring employees' performance and many other functions. Technologies, such as video cameras, data mining systems, heat sensors, biometrics, GPS tracking, and Internet and telecommunication systems are being used for the detection, investigation, prosecution and prevention of crime in the law enforcement and security sector. The purpose of the study was to establish the role of information communication and technology in enhancing security in urban areas in Kenya: A literature based review. The paper used a desk study review methodology where relevant empirical literature was reviewed to identify main themes. A critical review of empirical literature was conducted to establish the role of role of information communication and technology in enhancing security in urban areas. It was established that technology is critical to enhancing security in urban areas and in the country at large. Today's urban cities face a number of threats on a daily basis, it is essential to have a complete view of their operations and the local area at all times. Technologically enables collective action and offers a viable near-term complement to traditional crime fighting efforts in urban areas. ICT makes it easier for public groups and NGOs to organize responses to crime and even to highlight and thereby decrease instances of security officers' incompetence and corruption. The study concluded that several methods could be satisfactorily adopted for crime-based prevention and use of technology after identifying the spots. Places where there is high rate of crime, implementation of vigilance with CCTV, situational crime prevention methods and checking the geographical unit where crime rate is high and less. The study recommended the implementation of an information-sharing platform between agencies to enhance security in urban areas. This platform would provide information to the various security agencies. Further information from the various security agencies should be interlinked to provide real time information that can be used to avert crime activities in the urban areas.
Key words: Information Communication and Technology, Security, Urban Areas, Kenya
Influence of Community Participation in Projects Identification and Project Design on Completion of CDF Funded Projects in Matapato South Ward, Kajiado Central Constituency, Kenya
No full textCommunity participation otherwise known as participatory development is critical especially in aligning Kenya's development to the Vision 2030 and the Sustainable Development Goals (SDG). Constituency Development Fund (CDF) as a development tool has been in existence for the last twelve years and has been a precursor to the current devolution process. The program has created an opportunity for Kenyans to participate in national development through identifying and undertaking projects in various sectors. The whole idea behind CDF formulation was to ensure equitable economic, social and political development across the country and at the same time give citizens the opportunity to identify and implement projects that addresses their felt needs. The challenge however, has been that communities do not seem to be playing their rightful role in CDF project identification and designing. The CDF projects have not also been successfully completed in time and in a cost-effective manner. The study sought to establish; the influence of community participation on completion of CDF’s infrastructure projects in primary schools in Kajiado Central Constituency, Matapato South Ward. The study was guided by the following objectives; to determine the influence of community participation in projects identification and to establish the influence of community participation in project design on completion of CDF projects in Matapato South Ward in Kajiado Central Constituency. The study used survey research design. Target population for the study was 19 head teachers, 19 Board of Management members, representing the number of public primary schools, five chiefs and two CDF officials. Since the target population was small census method used to sample the respondents. Data was collected with the use of questionnaires and interview guides. Data obtained was then subjected to SPSS for analysis to provide both descriptive and inferential analysis. The study found out that Community Project Identification is positively and significantly related to project Completion (r=0.245, p=0.000). The results indicated that Project Design and Implementation is positively and significantly related to project completion (r=0.364, p=0.000). The study concluded that community participation in projects identification and community participation in project design and implementation positively and significantly influences completion of CDF projects in Kenya. The study recommends that the community should have a say in what the projects sets out to do, the priority areas, and tasks scheduling. Involved in a process make people feel able to express themselves on what they require. The study also recommends that communities should have an interest in project implementation processes to ensure projects are completed according to plan, budget and timeline. Furthermore, community members should be willing to pass information about meetings set to improve attendance
The Influence of Sources of Social Media Communication on Building Brand Equity in Small Medium Enterprises in Kenya: A Case of Dotsavvy Limited
No full textThe purpose of this study was to establish the influence of sources of social media communication in building brand equity at Dotsavvy Limited. The objectives were to identify the sources of social media communication used at Dotsavvy Limited, to establish how the sources of social media communication influence the building of brand equity at Dotsavvy Limited and to identify the challenges faced in using the sources of social media communication at Dotsavvy Limited. The study used a descriptive approach research design to analyze and interpret data. Data collected was derived from a sample size of 10% of the social media site followers used at Dotsavvy Limited which were: 89 Facebook followers, 126 LinkedIn followers, 62 Twitter followers, and 32 followers from the Dotsavvy website blog. The study established the sources of social media communication mostly used was Facebook with 50% of 308 respondents, while 25% of the respondents use the Dotsavvy website blog. The study also established that the two sources of social media communication with the most influence in building brand equity at Dotsavvy were Facebook at 50% and the website blog at 25%. The study concluded that social media communication sources influence the building of brand equity with a majority influence from Facebook and the website blog. The findings of the study show that Dotsavvy should increase its brand presence on its least used social media communication sources and should increase its marketing content and interactions with its social media followers through creative and strategic marketing campaigns. This will increase Dotsavvys brand equity across their social media communication sources which are Twitter and LinkedIn.
Keywords: Social Media Communication, Facebook, website blog, Twitter, LinkedIn, brand equity, Dotsavvy Limited.
 
Effect of Perceived Organizational Justice on Turnover Intentions in the Banking Sector in Nairobi City County in Kenya
No full textEmployees believe that the organization has a general positive or negative orientation toward them that encompasses recognition, contributions and concern for their welfare. Whilst organizations want their employees to be engaged; there are indicators that engaged employees are more productive. Consequently, there is a link between employee engagement and discretionary effort, innovation, customer loyalty, quality, profitability, earnings per share and productivity. When employees are not fully engaged in the organization, not happy and satisfied with their work, they are more likely to shift their passions to searching and connecting with potential employers. The study examined the effect of perceived organization justice on turnover intentions in the banking sector in Nairobi City County in Kenya. The study adopted a cross sectional survey design. The target population of the study was 6,487 employees in the six banks in Nairobi City County. Simple random sampling technique was used in selecting the sample for this study to be 326 respondents drawn from top-level and middle-level management. Data was collected using questionnaires and analyzed using SPSS version 22 and STATA version 14 where an analysis of descriptive statistics, correlation and logistic regression analyses was done. Analyzed data was used to examine the relationship between pairs of variables and the effect of perceived organizational justice on the turnover intentions. Logistic regression of coefficients results showed that Perceived Organization Justice and Turnover Intention were negatively and significant related (β=-2.633, p=0.000). This implied that an additional unit of Perceived Organization Justice decreases the probability of turnover intention by 2.633 points holding other factors constant. The study concluded that Perceived Organization Justice have negative and significant effect on turnover intentions.
Keywords: Perceived organizational Justice, Turnover intention, Employee engagement and Banking secto
Effect of Job Characteristics on Turnover Intentions in the Banking Sector in Nairobi City County in Kenya
No full textJob characteristics represent a multidimensional construct, which subsumes decision-making autonomy, task variety, and feedback from job as first-order factors. Jobs that are high in motivating potential must be also high on at least one of the three factors that lead to experienced meaningfulness and also must be high on both autonomy and feedback. However, when employees are not fully engaged in the organization, not happy and satisfied with their work, they are more likely to shift their passions to searching and connecting with potential employers. The study established the effect of job characteristics on turnover intentions in the banking sector in Nairobi City County in Kenya. The study adopted a cross sectional survey design. The target population of the study was 6,487 employees in the six banks in Nairobi City County. The study focused on the employees who were in middle level and top level management in the branches which totaled to 1,760. The study selected 326 respondents using Slovin's formula and simple random sampling technique. Data was collected using questionnaires and analyzed using SPSS version 22 and STATA version 14 where an analysis of descriptive statistics, correlation and logistic regression analyses was done. Analyzed data was used to examine the relationship between pairs of variables and the effect of job characteristics on the turnover intentions. Logistic regression of coefficients results showed that Job Characteristics and Turnover Intention were negatively and significant related (B=-2.023, p=0.000). This implied that an additional unit of Job Characteristics decreases the probability of turnover intention by 2.023 points holding other factors constant. The study recommends for the management of the banks to lead the way in the design, measurement and evaluation of proactive workplace policies and practices that help attract and retain talent with skills and competencies necessary for growth and sustainability.
Keywords: Job characteristics, Turnover intention, Employee engagement and Banking secto