Tag Archives: Business Performance

Contextual Factors’ Moderating Effect on Internal Audit Function and Business Performance Relationship in Quoted Manufacturing Companies in Nigeria (Published)

The paper focused on the moderating effect of corporate culture, size and technology on the relationship between Internal Audit function and Business Performance. Thirty-two (32) quoted manufacturing companies constituted the study sample. Data collection was done by means of questionnaire. Pearson’s partial correlations, aided by the statistical package for social sciences was adopted for the analysis of data. It was found that corporate culture and organizational technology positively moderates the influence of internal audit function on business performance whereas, regarding organizational size it was found that it does not influence the relationship between internal audit function and business performance. In conclusion, the more manufacturing firms’ culture place increasing value on accountability, the more their internal audit function positively influence business performance. Also, the more sophisticated and audit oriented the manufacturing firms’ technology tends to be the more internal audit function tends to positively impact on business performance. It was recommended that firms should encourage corporate values to guide employee behaviour on issues of accountability and transparency and manufacturing companies should procure modern technological infrastructure that enhances audit function and tracking of intended and unintended derivations’ and wrong usage and misrepresentations in business operations.

 

Keywords: Business Performance, Corporate culture, Technology, internal audit function, organizational size

Integrating HR Measurements into Business Performance: The Role of HR in Enhancing Business Growth (Published)

Integrating HR into business performance measurement system involves identifying the areas of HR deliverables and its linkage to the organization’s strategic plan. The HR deliverables which supports the implementation of the firm’s strategy must be clearly outlined and communicated to all staff to serve as the blue print for executing the firm’s strategy. HR success drivers are the core people related competencies and capabilities or assets such as employee productivity or employee satisfaction which are considered to be so important and unique to a particular firm for the attainment of its objectives. The study examines how these HR performance drivers serve as a catalyst for achieving organizational objectives .Through interviews and the review of empirical data, the study found that human resource managers tend to focus on HR performance drivers such as employee satisfaction, employee turnover, absenteeism in attempting to demonstrate their strategic influence as well as the difficulty in measuring HR’s actual contribution to overall mission and strategy.  It recommends the need for holistic business performance measurement indicators that promote value addition and places premium on HR as a function within the organization.

Keywords: Business Performance, HR Deliverables, Measurement

Relationship between Risk-Taking and Business Performance among Small and Medium Enterprises in Eldoret Town, Kenya (Published)

The measure of entrepreneurial activity in an organization is the level of creativity and innovation across all its operations. How intense the creative and innovative disposition is determined by the success of organizations as reflected in performance outcomes. The purpose of the study was to examine the relationship between entrepreneurial intensity and performance of small and medium enterprises in Eldoret town, Kenya. Informed by the study, this paper explores the influence of risk-taking on the performance of SMEs in Eldoret town. The study adopted an ex-post facto research design. It targeted all the SMEs in Eldoret town. Systematic sampling technique was adopted to select a sample of 100 SME owners/managers to be involved in the study. The collected data was analysed using both descriptive and inferential statistics. Descriptive statistics was presented in form of percentages, frequencies, pie charts and graphs. Pearson correlation was employed to test the hypotheses of the study. The study established that there is a strong positive correlation between risk-taking and business performance of SMEs in Eldoret town. Therefore, committing business resources to venture in uncertain and unfamiliar environments could result in increased returns and market share for the business.

Keywords: Business Performance, Eldoret Town, Kenya, Medium Enterprises, SMEs, Small, risk-taking

Customer Management: Creating a Sense-Making Framework for Developing Economies (Published)

The aim of the study was to gain an understanding of why most organizations fail in the effective management of the customer despite the fact that it is well accepted and understood that the customer is an integral part of the business and the reason business exists. Although various strategies have been implemented such as, customer service, customer experience, and customer relationship management, the phenomenon remains a challenge. Many reasons could be attributed to the failure of implementing customer management strategies, including a lack of a holistic approach, insufficient buy-in first from leadership and followed by employees, short-term focus instead of long-term, and budget constraints. Though customer management frameworks that advocate for a customer centric approach exist, which is holistic in nature and incorporate a systems’ thinking perspective, the frameworks tend to take a western viewpoint or a developed economy paradigm. The assumption seems to be that the frameworks will work and be effective anywhere without being context specific. Subsequently, the study aimed to establish if the customer management phenomenon should not be context specific for it to yield better results. As a progression from this base, the ultimate objective of the research was to create a customer management framework for a specific context, i.e. a developing economy. The Research Methodology assumed was qualitative, and Grounded Theory was the general methodology applied for generating new theory. Data collection methods adopted were: documents, one-on-one in-depth interviews, and an online questionnaire. The sample and population were individuals from a developing economic (Africa), specifically South Africa and Zimbabwe. The research findings established that there are some general customer management principles that are similar and hold true across different socio-economic environments; however, the level of understanding and execution of these principles is fundamentally different. It can be concluded that a customer centric model specifically for a developing world is appropriate to a degree since market conditions and political, social, and economic conditions are different. Recommendations of the study include creating a sense-making customer management framework for a developing economy that is based on a systems thinking paradigm and that takes into consideration external factors such as politics, social, and the economic environment. The framework must be easy to understand and not require huge financial resources or investment to implement and sustain because the developing world (generally) tends to lack capital.

Keywords: Business Performance, Customer Centricity, Customer Management, Socio-Economic Environment

THE IMPACT OF BUSINESS PROCESS MANAGEMENT ON BUSINESS PERFORMANCE SUPERIORITY (Published)

The objective of this study is to measure the impact of business process management on organization’s business performance superiority. The study adopted the approach of business processes management life cycle as a basis for detecting the idea of superiority. The sample included (89) managers, and their opinions and responses were used to describe (process identification and design, process modeling and documentation, process monitoring and controlling, and process optimization , in addition to describe the dimensions of business performance superiority, operational and competitive. Multiple regression analysis method was used to test the idea of the study model, to highlight the contribution of business process management to interpretation of organization’s business performance superiority. Sustained superiority requires organization managers to support business processes orientation financially and morally within the business entrepreneurship window, under uncertainty environment, characterized by risk and changeable as future perspective of the value of organization’s business performance superiority.

Keywords: Business Performance, Business Process Management, Superiority