Strategic Planning Practices Adopted by Laborex Kenya Limited

Abstract

Strategic planning is an organization’s process of defining its strategy, direction and making decisions on allocating its resources in a bid to purpose this strategy including its capital and people. The grand promise of strategic planning has been to increase the efficiency and effectiveness of an organization by improving both current and future operations. This study aimed at examining the strategic management practices adopted by Laborex Kenya limited. The study reviewed related literatures based on the objective which was a case study of Laborex Kenya limited. The study involved a case study of Laborex Kenya limited. The researcher used primary source of data which was collected through interview guide. This gave the respondent ample time to respond to questions asked. Key interviewees of the study included the chief executive officer, human resource manager, operations manager, key accounts manager and the marketing manager. The collected data was examined for completeness and clarity and thereafter was analyzed using content analysis. The findings show that there exist some strategic planning practices that Laborex Kenya limited adopts. The study established that Laborex Kenya limited has existing objectives, mission and vision statements which the company strives to achieve and that the company formulates strategies more often when need arises. It was also established in the study that proper selection of qualified staff and good training has been of great importance in propelling Laborex Kenya limited towards better performance. The study also pointed out that proper marketing strategies and tactics are of great importance to Laborex Kenya limited. This study also noted that account management skills are important to the company. The study recommends application of various strategic planning practices in all pharmaceutical firms in Kenya in order to improve their efficiency and effectiveness