Strategic Management Practices and Challenges at the Youth Enterprise Development Fund (Yedf) of Kenya

Abstract

The purpose of this study was to determine the strategic management practices adopted and establish the challenges encountered in managing Youth Enterprise Development Fund (YEDF) of Kenya. This was a case study and an interview guide was used to collect primary data from management and staff of the organization. Secondary data was mined from YEDF’s website and strategic plan. Data collected was analyzed using content analysis. The study revealed that YEDF has implemented strategic management practices in order to enhance performance. These practices include restructure of products to make them more attractive and relevant to the youth, outsourcing some services such as cleaning, provision of medical to staff and security, strategic alliances with accredited employment agencies, county governments and financial institutions such as banks and savings and credit co-operatives societies (Sacco’s), turnaround strategy, top management responsibility and monitoring and evaluation of progress. The study also established that YEDF faces various challenges in its operations and they include limited budget, dynamic nature of technology, competition from financial institutions and other government Funds, slow growth of the economy, unfavorable business environment and rising inflation rate, political environment as well as low employees’ performance. The study determined that the strategic management practices have to be implemented and regularly monitored, and challenges dealt with for the organization to achieve its mandate and objectives. The study recommends that, in order to improve performance, an organization has to develop, implement and monitor relevant strategic management practices and design ways of overcoming challenges encountered in its operations.