Steering Business in Kenya Through Difficult Economic Environment

Abstract

This paper presents strategies on how to steer business through difficult economic period. It defines leadership and explains the key concepts in corporate governance; effectiveness and efficiency, resources management, quality delivery and adding value in corporate governance. The paper also focuses on the corporate governance aspect of strategic management; role of the board of directors in crafting and executing strategy. The different levels of management are also discussed in this paper; strategic, tactical and operational. All these concepts are examined with a view to highlight their importance in the effective and efficient management of business organizations. In an operating environment that is dynamic and highly competitive, business organizations need to appreciate the importance of crafting and effectively executing strategies that can help them create sustainable environment to carry it through any unexpected and challenging eventuality. The paper concludes that effective and efficient management of resources, quality delivery and adding of value could drive the organisation through economic crisis like COVID-19 epidemic successfully.

Keywords: Corporate Governance, Effectiveness and Efficiency, Resources Management, Quality Delivery, Adding Value.

DOI: 10.7176/EJBM/13-24-08

Publication date: December 31^st 2021