Strategic Management Practices Adopted by Veterinary Pharmaceutical Companies in Kenya

Abstract

The objective of this study was to determine the strategic management practices by veterinary pharmaceutical companies in Kenya. This study was a cross sectional descriptive survey. In a cross sectional study, data is collected at one point in time. The intention of the researcher is to collect data that gives the prevalence of a phenomenon at a particular point in time. The population of this study consisted of all manufacturers of veterinary pharmaceutical products in Kenya. There were a total of seventeen (17) registered veterinary manufacturing firms according to the Pharmacy and Poisons Board (2016). All the registered companies as at this time were included in the study. The study was therefore a census. Primary data was collected using a structured questionnaire. The questionnaire which was be designed using a 5- Point Likert scale consisted of Two main parts. Data was summarized and presented using tables and percentages. Descriptive statistics were computed to provide an idea about the spread of the data. These statistics included the mean and standard deviation. . A moderately high percentage of respondents indicate that they involve lower level managers and external stake holders. Consultants are used by only 33 5% of the total respondents. The organization’s mission and vision are considered to a very large extent (Mean=4.78). This is so possibly because the mission and vision of the company provide it with direction and focus. The competition, availability of resources and the developments in the economic environment are considered to fairly large extent (Mean above 4.00 but below 4.5). Developments in the political environment and the company’s previous experiences do not have a large effect in the design of strategy. From the findings it can be concluded that most of the firms in veterinary pharmaceutical manufacturing actually do strategic management. It was revealed that a majority of the respondent companies invest in strategic management and preparation of mission and vision statements.