Strategic responses to the changing environmental forces affecting manhussein and associates in Kenya
Small and Medium Enterprises continuously operate in an environment where goods and services are often produced and exchanged to meet the material and social needs and advancement of living standards in a rapidly changing technological society. Consequently, Small and Medium enterprises have to deliberately engage in strategic planning in order to ensure, sustain their survival, meander and grow to their next level in their life cycle of developments. Naturally, all businesses regardless of size begin with a plan and ends with a plan. This plan is what management expertise referred to as a strategy. A strategic plan whether reduced to a written form or unwritten helps to guide the direction of the business in its charted journey to success. The salient elements of strategic responses too must take into account and focus on related policies, programmes and activities which deal with in an informed manner, the emerging environmental and industry challenges accordingly. The objective of this study was to primarily determine and document how ManHussein and Associates Ltd – the subject of this study - have responded to the dynamics of changes in its own environment. It also endeavoured in a fairly comprehensive manner to explore, demonstrate and document the experiences of the Company in dealing with its business environment in order to succeed. Basically, this study also adopted content analysis in examining strategic responses to changing environmental forces impacting on ManHussein and Associates Ltd. Upon completion, the study provided useful information aimed at recognizing, understanding, and synethizing and intervening in those aspects of environmental forces affecting significantly the bottom line of Company to the Leadership and Management. The study adopted the PESTEL framework to analyze and rates all the environmental conditions surrounding the company and its responses. Specifically, the economic factors has been exemplary and given a higher value than the other factors. A case study was adopted with an interview guide as the study instruments. The findings show that the Company has been influenced by various factors which were identified as being either supportive; providing opportunities as well as enduring short and long term challenges. The company’s product differentiation strategy has enabled it to better position itself to respond to the changing environmental forces. A significant element of the Company strategy adopted was the niche marketing strategy where the main focus of the Company continued to invest deliberately in acceptable Shariah compliant investments. ManHussein and Associates Ltd has also managed to be successful so far in managing environmental challenges due to its open-minded attitude of the management and its resourcefulness to aptly answer to these changes in a strategic mode. The future of the business will depend on how well the company is able to adjust their business operations to the prevailing volatile environment. However, the company according to the findings of this study needs to do more on the physical and political environment. Future research in my considered view should be conducted to find out how the firm alters its strategies to improve its bottom line and in what ways the strategic path chose has endeared the Company to its market place and offerings. From this study, it is however, clear that from the outset, ManHussein and Associates Ltd acknowledges and recognizes the fact that it is working in a dynamic environment and doing nothing about it, is not an option. It also realized that for it to maintain good performance and growth, it has to continually make changes so as to adapt to the environment. The firm sees the need to delight its customers and shareholders by satisfying their needs, creating market led shareholder value and exceeding their expectations at all times.