| dc.description.abstract | ABSTRACT
Environment has been characterized as complex, dynamic, multi-facet and having far
reaching impact on organizations that operate within it. As a result of these
characteristics, the environment is composed of various factors, events, conditions and
influences which interact with each other to create an entirely new set of influences
leading to constant environmental change. A fundamental change is occurring in the
world economy whereby the world economies are witnessing the forces of globalization
and liberalization of trade. This study is a case study. It seeks to achieve the objectives of
the study, which were to establish the strategic responses adapted by Kenya Women
Finance Trust to the environmental changes and to establish the challenges KWFT faces
in responding to the environmental changes. The study used both primary and secondary
data. Primary data was collected through an interview guide. The data collection
instrument was the interview guide. Secondary data was in form of the company’s
strategic plan and annual financial reports. The study found from the majority
respondents that there had been major changes within the operating environment for the
last ten years, it was further found from the study that the changes which had major
impact in their operation were; environmental changes, technological changes,
political/legal changes, demographic changes, economic changes, customers’ tastes and
preferences changes and competition from rival companies. It was further revealed by the
study that the finance, operations, human resource, customer care and the IT operations
were the areas of operations and management which environmental change had affected
most. From the study customers affected and influenced the operations of the company
through requiring competitive service that could meet their needs. The study also found
that due to environmental change the company operated at high cost due to the rising
inflation in the global world and there was therefore the need of the company to minimize
costs. It was observed that changes in political and/legal landscape affects the operation
of the company and this forces the business to operate at higher cost due to inflation and
new laws that guides the business. It is concluded that major transformation within the
organisation, adopting modern technology, product differentiation, advertisement,
performance culture, strategic locations, staff training and development and the
introduction of staff incentives for innovations are strategies adopted by the company in
response to competition. From the findings and the conclusions, the company has also
been facing challenges such as competition, high operational costs, high cost of funds,
scarce resources, threat to institutional identity, staff poaching by competitors and
resistance to change by staffs while responding to environmental changes. The
organization has been militating against these challenges. The study recommended that
there should be continuous adoption of various strategies in order to counter various
changes in the external environment, its further recommend that the company should
train its staff, establish a strategy department and computerize its departments to
modernize its operations and cut costs. | en |
