Influence of corporate entrepreneurship on performance of savings and credit cooperative societies ,the case of Nyeri County, Kenya

Abstract

In modern business setup, corporate managers are unanimous in their desire to make their employees and organizations more entrepreneurial. The challenge is to create a supportive environment that attracts, motivates and retains intrapreneurs; to instill a culture of innovation where renegades are empowered to pursue dreams and to fail without retribution. Corporate entrepreneurship is closely related to improved organizational performance in terms of growth and profitability. The outcome ranges from new products to new markets, processes and systems. The purpose of this study was to establish the influence of corporate entrepreneurship on performance of Sacco‟s The study aimed to: To establish the influence of corporate venturing on Sacco performance: To establish the influence of innovation on Sacco performance: and to determine the influence of strategic renewal on Sacco‟s performance. The study took the descriptive design and was undertaken at Nyeri Sub County, in the Sacco‟s operating in the area. The target population composed of 8 Sacco‟s, with 457 members composing of the directors, management, staff members, and opinion leaders. Cluster sampling was applied at 30% to ascertain a sample size of 141 respondents. Data collected was both qualitative and quantitative and was collected using structured questionnaires administered to all the respondents in the study. The Quantitative data was analyzed using descriptive statistics i.e. frequencies, percentages, and correlation coefficients, and presented in the form of tables, and pie chart. The study found out that innovation was the corporate strategy that influences the performance of the Saccos and the researcher recommended that the Saccos should enhance communication channels in order to encourage cooperation during formulation and implementation of corporate strategies that focus on innovation for product and service development.