Publication: Relationship of turnaround strategies on organizational performance of KCB Bank and Uchumi supermarket
This was a study on relationship of turnaround strategies on organizational performance of enterprises in Kenya: A case of KCB Bank and Uchumi supermarket. Specific objectives crafted for the study were: to investigate the the way human, finance, coporate planning and marketing turnaround strategies relate to organizational performance in KCB Bank and Uchumi Supermarket. The study was significant because it compared vital nexus between turnaround strategies and organizational performance in KCB bank and Uchumi supermarket. The study was carried out using open ended, closed ended questionnaires and interviews. The theories underpinning the study were resource based view, dynamic capabilities theory, open systems theory, and competitive theory. Empirical studies were carried out per objective. The target population was 450 and 660 Uchumi and KCB staff respectively.The sample sizecalculated using Nassiuma’s (2009) formula was 82 and 87 Uchumi and KCB staff respectively making a total of 169 respondents). Causal research design was used. The validity of the questionnaire was examined using the face and content validity while the reliability was examined using the Cronbach alpha coefficient. Data was analysedusing descriptive statistics (means, frequency distribution and standard deviations) and inferential statistics (linear correlation and multiple linear regressions). There were significant relationship between corporate planning and organizational performance in KCB bank and Uchumi Supermarket since F (1, 139) = 5.356,p=0.022<0.05, no significant relationship between finance strategies and organizational performance in KCB bank and Uchumi Supermarket since F (1, 139) =0.019, p=0.892>0.05, no major relationship between HR strategies and organizational performance based in KCB and Uchumi supermarket since F (1, 139) =0.290, p=0.591>0.05, no significant relationship between marketing strategies and organizational performance in KCB bank and Uchumi Supermarket since F (1, 139) =0.760, p=0.385>0.05.Key recommendation were for FMCG retail outlets (uchumi supermarket) to implement turnaround strategies starting with marketing followed by finance, human resource and finally corporate planning turnaround strategies. However, to finance retail outlet (KCB Bank) corporate planning is a priority focus followed by human resource then marketing and finally finance strategies.