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International Journal of Academic Research in Accounting, Finance and Management Sciences

Open Access Journal

ISSN: 2225-8329

Influence of Turnaround Strategies on Performance of Firms in the Aviation Industry in Kenya

Nderi Alice Nduta, Jared Deya

http://dx.doi.org/10.6007/IJARAFMS/v10-i3/7705

Open access

The main drive of this study was to ascertain the influence of turn around strategies on the output of firms in the Aviation sector in Kenya. The specific intents of this research was to find out the influence of Retrenchment plan, Divestment plan, Business process re-engineering strategy and Top management re-organization plan on the output of companies in the Aviation business in Kenya. This study assumed a descriptive research design so as to pronounce the relationship between the predictor variables and the dependent variable and a survey of all the firms was conducted. The target population was all the firms in the Aviation industry in Kenya which are 48 in number. A sample of 3 managers was selected from each company making a total target population of 144 managers from the three levels of management. A sample was determined by use of Krejcie and Morgan formula where the sample size was 105 respondents. The research primary data .The primary data was assembled by use of questionnaires which were developed as per the study objectives and distributed to the respondents. The respondents were given a period of two weeks in order to have enough time to answer the questionnaires, before being collected for cleaning and coding. Data analysis was done by use of SPSS software, version 23, where the collected questionnaires were edited, coded and input into the software for analysis. The data was analyzed for inferential and descriptive statistics where measures of central tendency such as mean and standard deviation were deduced. Tables and bar graphs were used to present the findings. It was found out that the Retrenchment Strategy, Divestment Strategy, Business Process Re-engineering have a positive influence on performance of firms in the Aviation Industry. The study recommends that Aviation firms needs to sale off excess and idle assets to free up capital which can be used to invest elsewhere. On divestment Aviation firms should exit of underperforming market segments saves on financial losses. On BPR, new product development be encouraged as it enlarges the market served. On top management re-organization, the study recommends that hiring experienced top managers should be a priority as it saves on operational mistakes.

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In-Text Citation: (Nduta, & Deya, 2020)
To Cite this Article: Nduta, N. A., & Deya, J. (2020). Influence of Turnaround Strategies on Performance of Firms in the Aviation Industry in Kenya. International Journal of Academic Research in Accounting, Finance and Management Sciences, 10(3), 135-149.