Business planning and competitive strategy at the jitihada business plan competition in Nairobi county
The purpose of this study was to investigate the business planning and competitive strategy at the Jitihada Business Plan Competition in Nairobi County. Specifically, the study sought to determine the suitability of business planning on the strategic decision making process and firm performance in MSEs funded through the Jitihada Business plan competition as well as determining the whether business planning impacts on choice of competitive strategies among the MSEs. This study used the descriptive survey design where the targeted population was all the Micro enterprises that were funded through the Jitihada Business Plan Competition and are based in Nairobi County. The study used the purposive sampling technique targeting the key heads of the businesses. The researcher administered 45 questionnaires to the respondents. Interviews were also conducted and consisted of oral questions by the interviewer and oral responses from the respondents. The study relied mainly on primary data which was collected and analyzed by use of descriptive statistics; represented by means of SPSS package and presented through percentages, mean, standard deviations and frequencies. The information was displayed by use of tables, bar graphs and pie charts. From the study, development of a business plan is a very crucial process in any business organization. Allowing the board of directors to formulate the business plan is thus important instead of an individual doing the task. Reviewing the set goals regularly is also important because it enables the business organization to assess its performance and know whether or not it is working in line with the set goals or it has deviated. By so doing, the organization’s efficiency increases which results to increased productivity which in turn increases the profits. The government should set policies that favor upcoming entrepreneurial firms. By so doing, such firms will grow and create employment opportunities which in turn lead to economic development.