The Influence of Strategic Management Practices on Performance of Quick Service Restuarants in Nairobi County

Abstract

The management team is able to choose the most effective and realistic strategy option with the assistance of strategic management. One's ability to perceive the business's strengths and weaknesses, as well as its risks and possibilities, may be improved by doing a thorough examination of the interior and outside settings of the organization. A company's competitive edge may be evaluated via strategic management, which also includes goals and approaches to meet all current and future rivals. The quick-service restaurant business has been confronted with significant difficulties recently, particularly as a result of the entry of a number of global corporations during the last several years. Consequently, this study set out to determine whether or not quick service restaurants in Nairobi County may benefit from adopting strategic management practices, as measured by the balance score card. The focus of this research is on fast service restaurants in Nairobi County, Kenya, and how strategic management practices may or may not affect their performance. Each of the 33 fast-food outlets in Nairobi County was surveyed as part of the study. The independent variable in this study was strategic management practices, and the researcher used strategy creation, execution, and evaluation as indicators of these procedures. The performance of the company was the dependent variable, and the balance score card was the measurement tool used to evaluate it. The outcomes of the research revealed that strategic management methods have a favorable and substantial relationship to performance. According to the findings of the research, effective strategic management is necessary for performance. The findings of the research suggested the existence of a connection between the several factors under investigation. The value of R Square was 0.679, which indicates that 67.9% of the changes in performance are characterized by the independent variables for the research, which are strategy design, strategy implantation, and strategy assessment of fast food businesses in Nairobi County. Strategic management, which provides overarching guidance, entails the formulation of plans, policies, and strategies for accomplishing objectives, and the subsequent allocation of resources to put these strategies into action. A company's strategic plan should aim to improve its standing in relation to its contemporaries in the same market. The study's findings define strategic management as an ongoing cycle of setting, checking, and resetting targets for the various parts of an organization that contribute to its success. A regular reevaluation of an organization's plans for success will be necessary as the business environment continues to undergo change. The study came to the conclusion that strategic management approaches are concerned with finding and explaining the procedures that managers might utilize to attain better performance.