Strategic Management Practices at Taj Mahal Properties, Kenya
Abstract
Profit maximization is key to stability, growth and excelling of any profit making
organization. It is a dream for such an organization to be in a situation where by its
profitability is not compromised regardless of the many challenges that are faced in
a day to day operations. Due to lack of strategic planning with in the ranks of many
small enterprises in the country, a stagnated survival kind of tendency has been
witnessed in their midst. This is caused by the only strategy know to many of such
enterprises of price undercutting to attract more clientele hence demeaning their
earnings in the process. The Kenyan economy relies largely on the small and
medium enterprises. The growth of this sector will therefore translate to the growth
of the economy at large. The growth of a small enterprise, to a medium enterprise
and more so to a flourishing giant corporation is never a walk in the park. Strategic
management practice among the small enterprises is tauted as one of the ways to
steer them to prosperity amongst other factors as sound financial management policy
and government supportive policies.
Taj Mahal properties, a medium enterprise, and its strategic management practices is
under focus here. Being the young organization it is. the study sought to establish the
upper hand it enjoys amongst its peers by adopting strategic management practices.
The study sought to establish the challenges lately faced by Taj mahal and the
industry at large and how they felt the practicing of strategic management helped
them out.
An indepth interview of top management to come up with qualitative data with the
aid of a well crafted interview guide. This way an indepth information about the Taj
mahal strategic management practices and established bow it has aided in its survival
and or growth amidst the recent challenges experienced in the industry.
The research findings indicated the Organization Taj Mahal Properties practice
strategic management processes actively.This has helped define its both short term
and long term objectives and thus has handed it a clear cut advantage over peers in
the industry yet to start formal management practices save for strategic management
practices.
Citation
Peter M. Kibang'a (2013). Strategic Management Practices At Taj Mahal Properties, Kenya. Master Of Business AdministrationPublisher
University of Nairobi