| dc.description.abstract | The objective of this study was to establish the strategic planning practices audit firms in
Nairobi, Kenya have adopted. A descriptive survey design was used in the study in order
to facilitate an all encompassing data from the respondents. The study population was the
registered audit firms operating in Nairobi, Kenya as at January 2008, whose number
stood at three hundred and thirty. The respondents in each of the audit firms were either
the managing partner or a senior member of the firm charged with the responsibility of
shaping the strategic direction of the firm.
A questionnaire was used to collect data to achieve this objective. The study utilized both
quantitative and qualitative techniques in the collection of data. Primary data was
collected using a structured questionnaire, divided into two sections with both open
ended and closed ended questions.
A study was done from a sample of sixty audit firms, thirty two firms responded to the
questionnaire. The data collected was checked for consistency and then analyzed to arrive
at various conclusions. The data was analyzed by use of descriptive statistics such as the
percentages, frequencies and tables. Statistical Package for Social Sciences (SPSS) was
used to aid in analysis. Computation of frequencies in tables, charts and bar graphs were
used in data presentation.
The study concluded that strategic planning is being adopted in most of the audit firms
especially the medium and big firms had started using the plans to be able to develop
their vision and mission and implement their objectives for better performance. The
strategic planning practices that are being adopted by audit firms in Nairobi are similar to
those proposed in strategic management theory and also reported in the literature review
from studies conducted in other industries.
From the findings of the study it can be concluded that by implementing strategic plans
firms are able to respond to the turbulent environment in an appropriate manner to ensure
their continued survival and profitability hence providing the partners with value for
money invested.
The current research focused on audit firms in the City of Nairobi. Despite the fact that
Nairobi contains a high concentration of small, medium size and big audit firms in the
country; a research needs to be focused on other areas apart from Nairobi. This would
enable a complete documentation of strategic planning practices adopted by audit firms in
Kenya. | en |
