The role of business enterprises in societies, particularly in developing nations is widely recognized as a crucial component of economic performance. Organizational performance is a challenge that mostly depends on how well organizations adjust to changes in their external environment. A lot of commercial banks need a solution and have developed viable strategies to make sure that they survive, increase sales and ensure retention of customers. The majority of banks have experienced stagnant or declining performance recently, indicating ongoing challenges in the banking sector. This research sought to establish the effect of strategic management process and performance of commercial banks situated in Nakuru County, Kenya. Specifically, the objectives included examining strategy formulation, implementation and evaluation and their effect on performance of commercial banks in Nakuru County, Kenya. The study was anchored by the following theories; Resource-based view of the firm, Contingency theory, McKinsey 7S Model theory and Balanced Scorecard theory. The research design adopted in this study was descriptive research design, with a population of 145 staff drawn from all the 29 banks within Nakuru County. Owing to the relatively small target population, the research used a census survey. The research involved the gathering of data that is primary by utilizing a questionnaire that is semi structured. Prior to the main data collection, a pilot study was carried with a view to assess both questionnaire validity and reliability. Inferential and descriptive calculations were tested and then computed in data analysis. Findings reveal that Strategy Formulation (? =0.414, Sig=.000<.05), Strategy Implementation…
Keywords: International Journal of Innovative Research in Accounting and Sustainability IJIRAS
Citation: , & Team, E. (2024). PRELIMINARY PAGES SPECIAL ISSUE. International Journal of Innovative Research in Accounting and Sustainability, 9(4-Special Issue), i-xi.