Adoption of Diversification and Innovation Strategies by the Nation Media Group, Kenya
Abstract
Diversification and innovation are some of the most useful tools in ensuring that
organizations survive the turbulent and competitive environment in today’s business
arena. Due to high competition and demand for products and services that meet the
changing customer’s needs, organizations have no choice than to remain innovative as
well as diversify their operations through generation of new ideas, processes and products
as well as expand internally and externally. Media industry in Kenya and globally is no
exception and hence this research was conducted to establish how Nation Media Group
has adopted diversification and innovation strategies to remain competitive and to
continue growing in light of the changing environment facing media industry. The
research was conducted through a case study and data analyzed through content analysis.
The data was collected from respondents drawn from supervisory and management level
and cutting across the various departments within the organization. The study observed
that Nation Media Group had embraced the diversification and innovation within its
objective, mission and vision and this has made it the biggest media house in east and
central Africa. It has continued to grow its product lines as well as expand its reach in the
region. The study at the same time recommends that the company need to continue
venturing in innovative projects that will add value to all stakeholders. This is the only
way that Nation Media can sustain its lead in the media industry in the region and at the
same time serve its customers with relevant products and services while growing
shareholders wealth. The study however cautions the management against adopting
projects that are half baked thereby contributing unwarranted costs and exposing the
organization to risks that may deter achievement of its vision.
Citation
Degree of Master of Business Administration,Publisher
University of Nairobi, School of Business,