Relationship Between Strategic Management Practices and the Growth of Firms in the Aloe Industry in Kenya

Abstract

The aim of the study was to identify the relationship between strategic management practices and the growth of companies in the Kenyan aloe industry. The study was led by this research questions: what is the relationship between strategic management practices and the growth of firms in the aloe industry in Kenya? The population of interest was seven major aloe processing companies in Kenya. Data was collected using questionnaires and quantitatively and qualitatively analyzed when an appropriate analysis using SPSS was carried out. From the study, a positive relationship between strategic management practices and the growth of Aloe industry in Kenya was observed. Strategic management practices such as mission and vision, environmental scanning, strategy formulation, strategy implementation evaluation and control were all established as significant in influencing the growth of firms in the Aloe industry in Kenya. Thus the study’s showed positive relationship between strategic management practices and growth of firms in the Aloe industry in Kenya. The researcher recommends alignment of the business activities with the strategic management practices to ensure sustainable growth and suggest further study on environmental elements that might influence the growth of Aloe industry in Kenya.