Effective Management of Strategic Issues in the Insurance Industry, Kenya
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Date
2015-01-30
Journal Title
Journal ISSN
Volume Title
Publisher
European Journal of Business and Management
Abstract
The purpose of this study is to examine how companies could prepare themselves to deal effectively with
strategic issues affecting them with particular reference to the insurance industry in Kenya. This follows the
turbulent environment in which the insurance industry in general and the Kenyan insurance industry in particular
are currently operating in: international competition, the rapid technological changes, regional integration and
globalization, change in customer needs and preference among others. These pressures have created the need to
explore the current strategic issue management practices in the insurance companies in Kenya. In order to meet
this objective, a census of all 38 insurance firms in Kenya was conducted by use of questionnaires. The findings
led to the conclusions that, although most insurance companies in Kenya study strategic issues affecting their
operations, none demonstrated the use of superior methods such as the European matrix method.
Description
Keywords
Strategic Issue Management, Insurance Companies, European Matrix Method, Strategic Management