Strategy Evaluation Practices Adopted by Insurance Firms in Nairobi, Kenya
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Date
2012-11Author
Kinuthia, Daniel
Type
ThesisLanguage
enMetadata
Show full item recordAbstract
The objective of the research was to establish strategy evaluation practices adopted by
insurance firms in Nairobi, Kenya. The population of this study consisted of all the forty
three (43) insurance firms in Nairobi, Kenya which are registered by the Insurance
Regulatory Authority (IRA, 2012).A list of the insurance firms in Nairobi, Kenya was
obtained from the Insurance Regulatory Authority (IRA). Primary data was collected
from these companies by use of a questionnaire.
The study established that 50% of insurance firms in Nairobi, Kenya adopt a formal
approach to strategy evaluation while 20.83% adopting informal strategy evaluation. 50%
of the insurance companies evaluate their strategies formally, 20.83% informally and
29.17% both formally and informally. The insurance companies have adopted both
formative and summative evaluation. Formative evaluations strengthen or improve the
strategy being evaluated. They help form it by examining the delivery of the strategy, the
quality of its implementation, and the assessment of the organizational context,
personnel, procedures, inputs, and so on. Summative evaluations, in contrast, examine the
effects or outcomes of strategy. The companies also evaluate strategy in light of both
financial and operational performance of the organization.
Key limitations included non-response of some respondents and shortage of time. The
study recommends that researchers in strategic management can take the topic of strategy
evaluation further by conducting a case study on one of the insurance companies in
Kenya.
Sponsorhip
University of NairobiPublisher
University of Nairobi, School of business