Factors influencing globalization strategies in private security firms in Nairobi
The purpose of this study was to investigate the factors influencing, and challenges affecting globalization strategies in private security firms in Kenya. Specifically, the study aimed at identifying the globalization strategies employed by private security companies in Kenya, establish the factors influencing globalization strategies in private security firms in Kenya and determine the challenges facing them when employing globalization strategies. The study used a cross-sectional design and a census method was used. The census was aimed at all private security companies in Nairobi registered with Kenya Security Industry Association (KSIA). Primary and secondary data was used in this survey. The secondary data in quantitative form was sourced from company’s annual financial reports, company newsletters, and others from research articles and books. The primary data was collected through a questionnaire with structured questions and a few unstructured questions. Data collected was mainly quantitative. Data analysis was conducted using descriptive statistics, which include measures of central tendency, measures of variability and measures of frequency among others. The Statistics Package for Social Scientists (SPSS) program was used to analyze the data and output presented in form of tables, pie charts and bar graphs. This study revealed that most companies have been in operation for either 5-10 years or more than 15 years. Competition saw many firms shut doors reducing the number of firms in the global market. This was as a response to increased intensity of global competition. In addition, global economic changes affect the companies’ missions and visions since as the global companies improve their production, the competing companies must also try to improve their productivity if they are to compete effectively. In the process of trying to catch up with the changing global economic environment, companies are at times compelled to change their missions and visions. Therefore, the government through commercial attaches should undertake research on available markets globally to enable the security companies in the country to participate in the global business transactions. In addition, engagement in global transactions should be encouraged to enhance expansion of market for locally produced goods and services and also to facilitate access to goods and services that cannot be offered locally.