Strategic responses adopted by women enterprise fund to changes in the macro environment

Abstract

Organizations exist in a complex, dynamic, and volatile political, economic, social, technological, cultural, environmental, legal, and ecological environments. In order to survive, strategies have to be crafted to respond to the threats posed. The objective of this study was to determine the macro environmental changes facing WEF and to establish the strategic responses adopted by WEF to overcome the challenges. The study was a case study. An interview guide was used as the primary data collection instrument to conduct face to face interviews to the CEO, departmental heads, regional coordinators and other managers at WEF. Content analysis was selected as the appropriate method for data analysis. This method was chosen for its breadth which makes it a flexible and wideranging tool that may be used as a stand–alone methodology or as a problem specific technique. The study also found out that WEF was faced by challenges such as political instability in the country, insecurity due to militia activities and other factors, terrorism threats, inadequate legislations, high inflation rate, fluctuating exchange rates, climatic changes, low technological advancements, high dependency ratio, poverty, high population growth rate, religion, increased customer demands, high unemployment, and cultural influences on customer needs. The study concludes that WEF had adopted various strategies to respond to the environmental changes. These strategies were found to broadly border on cost reduction measures, enhancement of efficiencies, partnerships/alliances, differentiation, upgrading the ICT, restructuring, outsourcing of noncore services and focus strategies. The study found out that the strategies adopted were both proactive and reactive and that they were generally successful with only limited shortcomings. The study recommends that WEF should employ various response strategies aimed at tackling insufficient funding. Further, that the fund diversifies its product offering and to improve the turn around time. Also recommended was that the DGSDOs, CWEFLC, Volunteers, and CDAs be trained appropriately. Finally, the Fund should work towards retaining experienced Volunteers.