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Effects Of Reward Systems On Employee Work Attitudes In The Energy Sector In Kenya
Get PDFThe business environment today being very competitive, a good compensation system for any
organization is essential as it directly impact the performance of its employees. Compensation is
assumed to be a physical need which in turn affects the employees’ motivation as well as the
attitude they have toward the job they as well as the overall image of the organization. Since
compensation is basic and at the bottom of the Maslow’s hierarchy of needs, without it achieving
self-esteem for any employee is a far out of sight and self-actualization is beyond the horizon.
reward affects the job performance and it also affects the relationship between the employee and
the employer as well their perception towards the growth of the organization as well individual
growth. The energy sector has thousands of employees, since the sector is crucial in moving the
nation towards vision 2030 goals, a good reward system is crucial to ensure satisfaction of the
employees as key stakeholders’ in the sector. How these employees behave towards their jobs and
their perception towards a particular organization are dependent on the rewards they receive. Thus,
the study aimed to identify the relationship between reward systems and employees’ attitudes in
the energy sector in Kenya. Specifically, the study examined: recognition rewards, monetary
rewards, skill-based pay and empowerment rewards and their influence on employee work
attitudes. The theories underpinning the study include: The Equity theory, Expectancy Theory,
Agency Theory, and the Social Exchange Theory. The target population comprised of 2090 staff
from electricity sub sector in Kenya comprising of: Nuclear Power and Energy Agency, Kenya
Electricity Transmission Company, the Rural Electrification and Renewable Energy Corporation,
Geothermal Development Company, and the Energy and Petroleum Regulatory Authority. A
sample size of 336 was drawn comprising of respondents in strata of top management, middle
management, and junior employees however, on 281 questionnaires were returned giving a
response rate of 83.6%. The study used both descriptive and inferential statistics. Diagnostic tests
were done to ascertain violation of critical assumptions. Multiple Regression was done to
determine how rewards systems relate to employee’s attitude in the energy sector. The study found
that all the independent variables i.e. recognition rewards, skill based pay, monetary rewards, and
empowerment rewards significantly influenced employee work attitudes in the energy sector in
Kenya. Rewards system was found to explain 55% variation of employee work attitudes. The study
recommends for an elaborate rewards system to be done by organizations to ensure employees feel
motivated, committed, and achieve with job satisfaction. Similar studies should also be done in
other organizations to ascertain the remaining variation in employee work attitudes
Influence of Procurement Procedures on Performance of Humanitarian Projects in Turkana County.
No full textTurkana county has attracted a lot of humanitarian projects to reach out to the needy situation in different areas of the community. However, most of the projects launched are characterized by cost overruns, delays, and unaccountability. The challenges could be attributed to among others, poor infrastructure, harsh weather, nomadic lifestyle, insecurity, and a turbulent environment. The hitches associated with supply and logistics management adversely affects the delivery of food, water and sanitation, medical products, and other services to the affected people. The study intends to determine the influence of procurement procedures on the performance of humanitarian projects in Turkana County. This study was anchored on the systems theory, a descriptive research design was employed in the study. The study respondents were 205 that comprised project managers, project coordinators, and procurement officers. Both descriptive and inferential statistics were used for data analysis. The findings indicated that Procurement procedures were found to be satisfactory in explaining 68.2% of the performance of humanitarian projects in Turkana County. The study concluded that procurement procedures influence the performance of humanitarian projects. The study recommends that humanitarian organizations need to adhere to procurement policies when procuring humanitarian project
Effect Of Dynamic Capabilities On Financial Performance Of Oil Marketing Firms In Kenya
Get PDFThe main objective of this study is to establish the effect of effect of dynamic capabilities on
financial performance of the oil marketing firms in Kenya. More specifically, the study seeks to
determine the effect of sensing capabilities, seizing capabilities, learning capabilities and
reconfiguration capabilities on financial performance of the oil marketing firms in Kenya. The
study was guided by the dynamic capability theory, the resource based view and the knowledge
based view. Relevant empirical studies are reviewed to inform the conceptual framework of the
study. Descriptive survey was undertaken covering quantitative methods. The study targeted 105
oil marketing firms as the unit of analysis and the Human Resource Managers, finance managers,
operations manager and corporate affairs managers from each of these firms adding to 440
respondents as the unit of observation. Multi-stage sampling approach was used starting with
stratification of the firms before selecting 210 respondents through stratified random sampling
technique as the sample size. The study collected primary data supported by the questionnaire
and secondary data supported by data collection sheet over a period of 2020-2021. The study
tested for content validity with the aid of the supervisor and one expert in the field of strategic
management while reliability of the questionnaire was determined through computation of the
Cronbach Alpha Coefficient values. The analysis of the gathered information was supported by
Statistical Package of Social Sciences tool version 24. The values of means and standard
deviations were utilized as the descriptive statistics. Inferential statistics covered correlation and
regression analysis. Table and figures helped to present the findings. The study established that
sensing capabilities (β=0.009, p<0.05), seizing capability (β=0.005, p<0.05), organizational
learning capability (β=0.003, p>0.05) and reconfiguration capabilities (β=0.004, p>0.05) all had
significant effect on financial performance. The study concludes that dynamic capabilities are
significant predictors of financial performance of oil marketing firms in Kenya. The study
recommends that the marketing managers working in the oil marketing firms in Kenya should
continuously invest in market research to gather intelligence for improved competitive
advantage. The human resource managers working in the oil marketing firms should invest in
new methods and systems of creating new knowledge through the recruitment practices
Influence Of Internal Control Systems On The Financial Performance Of Classified Hotels In The Nairobi County
Get PDFOver the past five years, there has been an upsurge of hotels around Nairobi County. They
have, however, had difficulties with internal controls. The rising fraud in Nairobi's well-known
hotels is evidence of this. The goal of this study was to evaluate how internal control systems
affect the financial success of hotels in Nairobi County. The study specifically aims to appraise
the impact of detective controls, preventive controls, and corrective controls on the financial
performance of hotels in Kenya. It also aims to assess the impact of preventative controls and
detective controls on the financial performance of hotels. The study utilized a descriptive
research design. The study focused on 45 hotels in the county of Nairobi (five-star, four star
and three star). Employees in the hotels' internal audit and accounting and finance departments
formed the target population of this study. All 45 hotels were included in the study because
they are convenient for access. A sample of 90 respondents was drawn from each hotel's
finance and internal audit managers for the study. The personnel who took part in the study
were chosen via purposeful sampling. Questionnaires was used by the researcher to gather data.
Pilot study was conducted in Kiambu County from the five hotels. The supervisors assessed
the instruments to determine their validity and recommend any necessary adjustments. STATA
generated the Cronbach alpha value based on the results of the pilot research to determine the
reliability of the surveys. The information found in the gathered surveys was analyzed using
descriptive and inferential statistics using STATA software. Tables and graphs was used to
present the data. The study concludes that hotels in the Nairobi County use a variety of
corrective, detective, and preventative controls based on the descriptive data. The study comes
to the further conclusion that asset value and profitability are the major metrics used by Nairobi
County hotels to gauge financial performance. The study deduces from the model summary
that there is a significant correlation between corrective, detective, and preventative controls
and the financial performance of categorized hotels in Nairobi County. The study also comes
to the conclusion that the main elements affecting the financial performance of hotels in
Nairobi County are corrective, detective, and preventative controls. The study draws the
conclusion that corrective, detective, and preventative controls significantly improve the
financial performance of hotels in Nairobi County based on the regression coefficients. Due to
this, it was determined that internal control systems had an advantage over the financial
performance of hotels in Nairobi County. The report suggests installing preventive control
systems at hotels in Nairobi County to improve performance. The hotels should also have
objective, independent, and active audit committees while also making sure that valuable
information is only accessible to the staff with the consent of senior management. This would
prevent their staff from having access to valuable information without the permission of senior
staff. The hotels should also have organizational asset identification and protection capabilities
built into their security systems. For them to improve financial performance, the hotels need
set up detective internal control systems. Periodically, the hotels should conduct internal
evaluations of their internal controls. In order to prevent instances of stock out and associated
expenditures, the businesses should also maintain a regular stock of their stocks. To improve
financial success, the hotel departments should also routinely evaluate their budgets. The study
suggests that hotels in Nairobi County implement corrective measures. The hotels should
implement corrective measures to deal with firm-wide issues that would improve financial
performance. The administration of hotels should also create and implement everyday
procedures in their establishment. The hotels should also adopt and set up financial reporting
software that is frequently updated, as well as regular reviews of reporting standards and
procedures. It is advised that future study employ similar experiments with diverse sectors and
variables
Macroeconomic Factors and Stock Return of Firms Listed at the Securities Exchanges in East Africa
No full textThis study examined the relationship between macro-economic factors and stock returns of 96 firms listed in East African Stock Exchanges over the period 2016 - 2020. The macro-economic variables were foreign exchange rate, gross domestic product, interest rate and inflation rate. Regression analysis was used to examine the relationship between the variables. The results showed that foreign exchange rate negatively and significantly affects stock returns. The findings suggest that when the
foreign exchange rate of a country increases, it negatively affects stock performance and thus the returns of stocks decrease. Policies should thus be put in place to ensure foreign exchange rate is kept constant or lower in order to attract investors and enhance stock returns. The results also showed that gross domestic product positively and significantly affects stock returns. The findings imply that when gross domestic product of a country increases, stock returns increase. Policies should be put in place that ensures growth in gross domestic product in order to enhance stock returns. The results also show that inflation rate negatively and significantly affects stock returns. The findings suggest that when inflation increases in a country it results in decrease in stock returns. Policies should thus be established to curb inflation and enhance stock returns. The results also show that interest rate negatively and significantly affects stock returns. The results imply that when the rate of interest increases in a country, stock returns decrease. Policies that ensure low interest rates should be put in place in order to boost stock returns. This study demonstrates that macroeconomic variables significantly affect stock returns. Therefore, we recommend that governments and other stakeholders should put in place proper macro prudential policies in order to encourage investments and boost stock returns. We also recommend that regulators and policymakers should come up with policies and regulations that will stabilize inflation, reduce or stabilize interest rates, stabilize or reduce exchange rates and also ensure growth in GDP. We suggest that future research may focus on data from developed and developing countries to compare and contrast the effect of macro prudential policies adopted in the various countries and its effects on stock returns
Electric buses offer a way out of the transport chaos
No full textThe 14th day of every month is a day all Kenyans have to hope against hope. They are all ears as the Energy and Petroleum Regulatory Authority (Epra) announces the monthly fuel price review, with the expectation of a reprieve from the ever-escalating costs. Rarely do prices come down, even marginally.
While hoping for a miracle one day, you’ll get reminded that there is a preferential VAT treatment on fuel that is not guaranteed to last. Worse still, there is a government subsidy that can be withdrawn at will.
But wait a minute, we have oil reserves in the country. The projection way back in 2012 when the discovery of oil reserves was announced was that Kenya would be an oil-rich country by this day. We live to wait for that day when we will have surplus oil production for use and export
Effect Of Customer Relationship Management Strategy On Customer Loyalty In The Insurance Sector In Kenya
Get PDFIt remains a challenge to understand the effect of target marketing and customer service delivery on
customer loyalty given limited empirical evidence on the effect of customer relationship management
strategy on customer loyalty within the Kenyan insurance industry is limited. The study aimed at
determining the effect of customer relationship management strategy on customer loyalty in the
insurance sector in Kenya. Specifically, the study sought to find out the effect of customer interaction,
target marketing, customer service delivery and loyalty programs on customer loyalty in the insurance
industry in Kenya. A descriptive research design was adopted with quantitative approaches. The study
targeted 204 insurance brokers from which 135 firms were sampled using a simple random sampling
method. Data was collected from 84 marketing managers representing the brokerage firms using a
semi-structured questionnaire. Both descriptive (mean, standard deviation, percentages) and inferential
(correlation and regression) data analysis were adopted to estimate results with the aid of SPSS.
Findings indicate that customer loyalty programs, target marketing and customer interactions
positively influences customer loyalty in the insurance industry. Nevertheless, customer service
delivery has a negative influence on customer loyalty in the Kenya’s insurance industry. The study’s
conclusion was that target marketing and customer loyalty programs have a positive effect on customer
loyalty within the Kenya’s insurance industry. This study recommends that insurance companies
should adopt customer relationship management as this has a positive effect on customer loyalty
Relationship Between Corporate Transparency And Financial Distress Of Non-financial Listed Companies In Nairobi Securities Exchange
Get PDFHigh-quality financial transparency provides a key basis for making well-versed corporate
decisions between various stakeholders, especially those about various organizational
transactions, financial planning and monitoring, and capital allocation. As a result, financial
transparency is now taking a significant new meaning by incorporating more proactive and
comprehensive transparency instead of its traditional approach that entailed significant
transparency of an entity’s corporate governance policies only However, many listed firms in
Kenya, particularly non-financial ones, have faced a significant financial crisis as they struggle
to attract investors due to a lack of information transparency. Even though financial firms listed
at NSE have been posting excellent financial performance over the last decade, most have been
experiencing significant financial distress. Therefore, the main objective of this study was to
examine the relationship between financial transparency and the financial distress of non financial companies in NSE. The study was guided by three key theories, i.e., Agency Theory,
Stewardship Theory, and Stakeholders Theory. The study employed a descriptive research
design. The target population of this study consisted of all 41 non-financial firms that have
been operating at NSE for the past seven years. The census approach was employed to select
all 41 non-financial firms in NSE. Document transparency check index based on each specific
study variable was used to obtain data for the study. The data obtained was studied to establish
its completeness before it was analyzed. Complete data were analyzed using STATA software.
Random effects panel model was adopted to establish the extent to which the dependent
variable influenced the independent variables. Results obtained in the S-Model indicated that
financial transparency had a positive and non-statistically significant effect on the financial
distress of non-financial companies in NSE. Results per the X-Model suggested that financial
transparency had a positive and statistically significant effect on the financial distress of non financial companies in N NSE. Results obtained in the S-Model indicated that risk transparency
had a positive and non-statistically significant effect on the financial distress of non-financial
companies in NSE. As per the X-Model, the results suggested that risk transparency had an
inverse and statistically significant effect on the financial distress of non-financial companies
in NSE. The study concluded that increasing financial transparency would positively affect the
financial distress of non-financial companies in NSE. The study also concluded a negative co movement between social transparency and financial distress of non-financial companies in
NSE. The study, therefore, recommended that non-financial firms in NSE should strive to
enhance their overall financial information transparency in their published reports to attract
more potential investors, especially when such information can clearly show that the firm is
financially stable. The study also recommended that the management of non-financial firms at
NSE should ensure that all firm information deemed crucial for transparency to attract potential
investors are properly and accurately disclosed through open publication online to give
prospective investors the free will to download and go through such information
Effect Of Information Management Systems On Revenue Collection At Kenya Wildlife Service
Get PDFKenya Wildlife Service adopted a modern information management system with an aim of
improving quality of services, reducing costs, increasing efficiency, enhancing revenue
collection, among other benefits. However, Kenya wildlife service has not realized the full
potential in revenue collection using information management system for the organization as
evidenced by revenue losses through pilferage or collusion between employees and tour
operators. This therefore brings lack of clarity and indistinct relationship on how exactly
adoption of the system has affected KWS revenue collection. This study explored the influence
of information management system on revenue collection at Kenya wildlife service. The specific
objectives of the study were to establish the effect of customer relationship management system,
human resource management system, internal control system and electronic payment system on
revenue collection at Kenya wildlife service. This study was anchored on Technology
Acceptance Model, Social control Theory and the Systems theory to explain the theoretical link
between the variables. Descriptive research design was adopted and the target population was
245 Kenya wildlife service staff members. A sample of 71 was selected using stratified sampling
technique and primary data was collected using a structured questionnaire. Data collected was
analysed using descriptive statistics and multiple regression analysis with the help of Statistical
Package for Social Sciences version 24. The study established that customer relationship
management system, internal control system and electronic payment system had a positive and
significant effect on revenue collection at Kenya wildlife service. However, human resource
management system had no significant effect on revenue collection at Kenya wildlife service.
Based on the findings, the study recommends Kenya wildlife service terminal stations using
information management systems to improve on customer relationship, electronic payments and
internal controls for optimum revenue collection
Influence Of Non-accounting Information On Credit Decisions Of Microfinance Banks In Kenya
Get PDFThis study assessed the influence of non-accounting information that is utilized by microfinance
banks in making credit lending decisions. The objectives that guided this study included: to determine
effect of credit history on credit decision making among microfinance banks in Kenya; to establish
the influence of credit utilization on credit decision making among microfinance banks in Kenya; and
to investigate how financial literacy influences credit decision making among microfinance banks in
Kenya. The research was underpinned by four theories namely; equilibrium theory of credit rating,
agency theory, theory of planned behaviour and decision making theory respectively. The study
adopted a quantitative methodology in which case data was gathered using structured questionnaires.
The study population was 169 staff comprising of credit sales officers, risk officers, credit managers
and branch managers drawn from different Micro-Finance Bank head offices. A sample of 119
determined using Yamanes formula was selected using stratified random sampling, where the
population was segregated into strata based on designation of the officers. In this study the main data
collection instruments that were used were questionnaires which were carefully designed, tested and
evaluated to assure validity of the primary data. Descriptive as well as inferential statistics were used
by the study where the descriptive statistics were analysed in the form of frequency, percentages,
mean, and standard deviation while the inferential statistics were analysed in the form of Spearman
correlation and regression analysis. Tables, charts and graphs were used to present the analysed data.
The descriptive results show that most micro finance banks have an internal credit rating system.
Also, the results showed that microfinance banks have access to credit reference bureau reports which
compile credit information, public record data and identity information. Furthermore, the
microfinance banks are sometimes forced to monitor the investment made using loans to reduce
diversion. The results further showed that loans meant for investments have low risk of defaults. In
addition, it was shown that the clients with history of diverting the loan to non-productive investments
are not approved for loans. Concerning new clients, the results showed new clients starting
investments are required to provide business plan. The correlation analysis showed that credit history,
credit utilization and financial literacy significantly and positively influence credit decision in
microfinance banks in Kenya. These findings were confirmed by the regression analysis where credit
history, credit utilization and financial literacy each registered a positive and significant beta
coefficient. The study made the conclusion that financial literacy, credit utilization and credit history
were very instrumental in credit decision making among the microfinance banks in Kenya. It is
therefore recommended that microfinance banks keep information about both current and potential
borrowers which may be useful on decisions concerning credit to customers. Also, credit utilization
was found to be significantly related to credit decisions, thus microfinance banks should monitor
whether the credit facility to the customers are used for the intended purpose and use this information
for future decisions on credit worthiness of the potential borrower. On further studies, this study
recommends that similar research be done using other variables to establish which other factors have
impact on the credit decisions among microfinance banks in Kenya