Strategic management practices in the registered filming organizations in Kenya
To deal effectively with the wide array of factors affecting the ability of a business to grow and prosper, strategic management emphasizes formal techniques for setting an organization’s long-term course, developing plans in the light of internal and external circumstances, and undertaking appropriate action to reach those goals (Goldsmith, 1997). Strategic management refers to the set of decisions and actions that result in the formulation and implementation of plans designed to achieve a company’s objectives (Pearce & Robinson 2007). This study sought to find out the extent to which strategic management practices were applied by registered film organizations in Kenya. The population of this study comprised of forty eight registered filming firms that were licensed as film agents as per the Department of Film Services, Kenya. The study utilized cross-sectional survey, obtaining largely primary data through structured questionnaires with descriptive statistics used to decipher trends and general patterns. The findings were presented using tables, with explanations provide on the parameters tested. It established that these firms operate in a turbulent environment, characterized by challenges that emanate from both their internal and external environments. The study established that most of these organizations perceived strategic management as essential in guiding actions and decisions to attain desired strategic objectives. However, they had challenges such as conducting SWOT analysis at the formulation stage, managing change and the effectiveness of their governance structures at their implementation phase and ongoing assessment of strategic initiatives, overall participation, success of corrective action to failing or sub-optimal strategic initiatives and openness to collaborative initiatives at their evaluation phase. Areas for further research are also proposed, which include widening the scope of study to cover a larger population than just the registered firms, further research on factors affecting strategic management practices so as to uncover impediments and success factors and studies applying other more in-depth approaches such as case studies, which would be more thorough and objective. For policy and practice, the study recommends that that there should be comprehensive engagement of all stakeholders in strategy formulation, implementation and evaluation phases with organization open to enhancing capacity for strategic management through measures such as developing training programs and engaging change agents.