Effects of Strategy Implementation Practices on Growth of Real Estate Firms in Nairobi County, Kenya

Abstract

This study aimed to assess the effects of strategy implementation practices on the growth of real estate firms in Nairobi Kenya, drawing theoretical insights from Style and Behavioral Theory, Transformational Leadership Theory, and Upper Echelons Theory. Through a quantitative approach, data was collected from a sample of 60 real estate firms situated in Nairobi County. The primary objective was to find out the effects of strategy implementation practices on firm growth within the dynamic context of the Kenyan real estate sector. A structured questionnaire was utilized to gather responses, focusing on variables related to firm growth, effective communication, employee engagement, resource allocation and organizational leadership alignment. The analysis employed regression models to evaluate the relationships between these factors and firm growth. The study findings indicate that resource allocation with a mean of 4.190, emerge as a prominent driver, emphasizing the importance of a robust economic environment for real estate expansion. Effective communication with the highest mean of 4.901, underscores the important role of technological advancements in shaping the industry. The regression models also confirm that growth of the firms depend on the ability of the managers to provide and allocate resources, work with different stakeholders and implement their strategies within time. The review also confirms that when external factors are considered in strategy implementation, the end results is firm success. These external factors align with the study's objective. The study concluded that real estate firms should invest in adopting resources, leadership as well as customer engagement, and overall competitiveness. Additionally, managers should continually assess and update their technology strategies to stay abreast of industry trends and maintain a forward-thinking approach in an ever-evolving digital landscape.