An assessment of organizational factors influencing the financial performance of access Kenya group.
Kirira, Ruth N.
MetadataShow full item record
ince financial performance is important to the success of any business then improved financial performance in Access Kenya Group provided the main motivation for this study as expenses were seen to be growing much faster than revenues in the five year financial statement analysis of 2008 to 2012. It was therefore, the purpose of this study to assess the organizational factors that influence the financial performance of Access Kenya Group. The key indicators for financial performance being: to determine the awareness of revenue growth opportunities available for Access Kenya Group; to assess the relationship between business expenses and revenue growth for Access Kenya Group and to evaluate whether Access Kenya Group has people capabilities required to implement financial performance. In order, to achieve the stated objectives of the study, a questionnaire containing structured questions was used. It was however, accompanied by probing questions when the need arose for elaboration. The returned questionnaires were first sorted, coded, edited and keyed in the computer using SPSS (Statistical Package for Social Sciences). Considering that the data to be collected was quantitative data, descriptive analysis technique was best suited for data analysis. The conclusions and recommendations of the study were that the organization should maintain a balance between revenue growth and cost reduction. Secondly, it is important to note that customer retention and new products are critical for the organization and this can only be achieved through a detailed grasp of the changing risk profile of the institution which can only be achieved by building quality data and infrastructural investments. It is also increasingly important for Access Kenya Group to understand the regulatory codes emerging at both national and international level as this will assist the business in growing sustainable revenues. Finally, the organization will require to better align the way people work to enable them focus on business objectives, training and skills programmed’ to better achieve these objectives, infusing retailing skills and a cultural revolution in the way staff are led, managed, trained, measured and rewarded. For, further study the causes of low market share of Access Kenya Group in rural areas should be looked into considering as it is very popular in Nairobi and other major towns in Kenya. It is also important to look into the impact of regulatory framework on financial performance in future.