Strategic Management Practices and Competitive Advantage at Tosha Petroleum Limited Kenya

Abstract

The petroleum industry is highly competitive, and understanding the factors that can improve a company's competitiveness provides a significant advantage. Petroleum companies operate in a complex and rapidly changing business environment, and effective strategic management practices can help them adapt and stay ahead of their competitors. Therefore, given the global importance of the petroleum industry, it is crucial to better understand the impact of strategic management practices on the competitiveness of the companies. This coupled with contextual, conceptual, methodological, and information gaps that exist necessitated conducting this study. The study sought to examine the influence of strategic management practices on the competitiveness of Tosha Petroleum limited. The study used a qualitative approach, collecting data from ten (10) senior ranking officials from Tosha limited. Data was collected using an interview guide and content analysis was used to determine themes, words, or concepts within the qualitative data. The results of the study showed that marketing and advertising, strategic planning, cost leadership, situational analysis, training and development, customer relationship management strategy, and product differentiation had a significant positive influence on the competitiveness of the petroleum company. The findings of this study provide useful insights for petroleum companies seeking to enhance their competitiveness in a highly dynamic and competitive environment. The study suggests that petroleum companies should focus on developing effective marketing and advertising strategies, engaging in strategic planning, implementing cost leadership practices, conducting situational analysis, investing in training and development, and adopting customer relationship management strategies to improve their competitiveness. Additionally, the study highlights the importance of effective management practices and product differentiation in enhancing the competitiveness of petroleum companies