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Influence of Entrepreneurial Customer Experience on Savings Mobilization among Micro and Small Enterprises
(International Journal of Academic Research in Business and Social Sciences, 2016-04-22) Atandi, Fred Gichana; Bwisa, Henry M.; Sakwa, Maurice
The study results from various researchers have highlighted mixed findings on the influence of customer experience on savings mobilization among MSEs who mobilize their financial resources in diverse financial institutions at their respective financial institutions, whereas it has generally been argued that satisfying customer experience greatly influences customers repurchase intentions, dissatisfaction has been viewed as the primary reason for customer’s intention to switch to competitors. The current research used mixed research design to conduct the study among 339MSEs who are registered with KNCCI Trans Nzoia county. Stratified sampling was used to categorize MSEs into three strata’s; service manufacturing and
commerce or trade, then random sampling used to select the study sample. Pilot study was conducted to test the research instruments reliability and validity and were found to meet the threshold 0.70.The study conducted correlation among customer experience factors which were found to be significant . The main findings of this study showed that customer experience influences savings mobilization among the MSE’s. The financial institutions clients want to feel recognized and valued by the employees of the financial institution when seeking products and services from them. The entrepreneurs expect high quality saving products and services meeting their unique needs, they also need to receive feedback and updates on time from their financial institutions whenever they make enquiries at their respective financial institutions. The competency of the employees in explaining to their clients the features of savings products and services influences savings mobilization as a variety of financial products and services are consumed from the same financial institution. The study also found that bio data’s such as gender, level of education and number of dependents positively affects customer experience which influences savings mobilization among MSEs. The study findings imply that MSEs expect good customer experience from their financial institutions when mobilizing their savings . This research study recommends that for customer experience to affect savings mobilization, conscious efforts should be made by savings mobilization institutions to consider specific social economic conditions and major dominant economic activities in business environment of MSEs, so as to offer them effective and efficient products, services and facilities suiting their peculiarity without compromising on industry policies and procedures rather than using standardized products ,services and facilities which may cause discomfort to certain economically active entrepreneurs. Also the study further recommends that financial institutions to design products and services which takes into consideration gender, level of education and the number of dependents in the entrepreneurs household which influences the decision to mobilize savings with financial institutions
Technological Innovation as entrepreneurial Determinant affecting Savings Mobilization among Micro and Small Enterprises in Kenya
(International Journal of Academic Research in Business and Social Sciences, 2016-03-22) Atandi, Fred Gichana; Bwisa, Henry M.; Sakwa, Maurice
The research study aimed at finding the effect of technological innovation on savings mobilization among MSEs in Trans Nzoia county Kenya. Studies from developed world have indicated that the use of technological innovations in savings mobilization improves performance of MSEs leading to better savings mobilized, also, MSEs with superior technological resource will have a competitive advantage leading to entrepreneurial growth of their MSEs and also enhances the efficiency of an enterprise and builds the confidence of entrepreneurs in discharging their responsibilities. The research used mixed research design to conduct the study among 339MSEs who are registered with KNCCI Trans Nzoia county. Stratified sampling
was used to categorize MSEs into three strata’s namely service manufacturing and commerce or trade. Pilot study tested the instruments reliability and validity which met the threshold 0.70. Correlation among the technological innovation factors was found to be significant. The major findings of the study indicated technological innovation influences introduction of variety of new product and services offering to customers, drastically reduces the cost of savings mobilization and makes financial products and services appealing/attractive. The study concluded that financial institutions to consistently innovate new technologies of delivering their products and services The study also concludes that gender, level of education and
number of dependants positively affects technological innovations which influences savings mobilization among MSEs. The study recommends that prior to the financial institutions introduction of technological innovations, they should create functional infrastructures to operate effectively.
Influence of Entreprenurial Working Environment on Employee Productivity Among Small and Medium Enterprises
(International Journal of Management & Entrepreneurship Research, 2021-02-22) Atandi, Fred Gichana
The purpose of the study was to determine the influence of entrepreneurial working environment on employee productivity among small and medium enterprises in Kitale town, Kenya. The specific objectives of the study were to; examine entrepreneurial working environment, establish employee productivity and to find out the relationship between entrepreneurial working environment and employee productivity among small and medium enterprises in Kitale town. The study used both descriptive, cross-sectional and correlation research designs. A total of 14 SME hotels with a total of 92 regular employees were sampled to participate in the study. The sampling method used was census since the population was small. The research instruments reliability test had a cronbatch’s alpha value of 0.884 which was above the threshold. The results indicated that SMEs hotels have not embraced entrepreneurial working environments in their work places which will allow employees to be motivated to exploit their potential and improve on productivity. The study results also showed that employee productivity is low implying that they may not be achieving their set targets which affects performance of SMEs hotels. The study results also revealed that there was a significant relationship between entrepreneurial working environment and employee productivity. The study recommendations were; the SMEs hotels are facing stiff competition from world class hotels, to remain relevant and in productive operations, they should embrace creation of entrepreneurial environment where their
employees will feel motivated and valued. The SMEs hotels should consider recruiting entrepreneurial human resources who will easily utilize their unique skills and talents to benefit the enterprises they work with and the county government of Trans Nzoia and national government should draft a policy to provide incentives to SMEs hotels while operating in uncertain business environments.
Role of Entrepreneur’s Competence on Growth of Small and Medium Enterprises
(International Journal of Management & Entrepreneurship Research, 2021-02-22) Atandi, Fred Gichana
The study endeavored to determine the role of entrepreneur’s competence on growth of small and medium enterprises. The specific objectives of the study were to; establish entrepreneur’s competence small and medium enterprises in Bungoma County, examine the growth of small and medium enterprises in Bungoma county and to determine the relationship between entrepreneur’s competence and growth of small and medium enterprises. The study used a combination of descriptive, cross-sectional and correlation research designs and data was gathered using a self-administered questionnaire on 201 SMEs. Data was analyzed using descriptive and inferential statistics. The resource-based theory was used to guide this
research. The study findings indicated that the grand mean for entrepreneur’s competence was low with a mean of 2.23 with a SD of 0.50. The implications of the findings is that SMEs operators in Bungoma county lack the prerequisite entrepreneurial skills and knowledge affecting their growth save for resource mobilization. It was also found that the grand mean for growth of SMEs was low with a mean of 1.96 and SD of 0.58. The implication of the findings was that SMEs were performing dismally affecting their graduation/transition to the next higher level. The study results also found that there was a significant relationship between entrepreneur’s competence and growth of SMEs with p. value 0.000. The study
concluded that SMEs should embrace relevant competence skills to enable them operated growth oriented enterprises which can graduate to higher levels thereby contributing to improved social and economic life of the operators and the nation at large. The study recommended that owner managers of SMEs to attend trainings on resource mobilization and innovation so as to acquire adequate resource mobilization and innovation skills and differentiate themselves in the market place to grow their enterprises. The study further recommended that government to put in place entrepreneurship policy to nurture business startups through mentorship, motivation and attitude change as they walk through entrepreneurship journey.
Effect of Mobile Phone Transfer Services on Performance of Micro and Small Enterprises: A Case of Trans-Nzoia County, Kenya
(International Journal of Academic Research in Business and Social Sciences, 2014-11-22) Makee, Kirigano B.; Muturi, Willy; Atandi, Fred Gichana
Over the last few years, small and micro enterprise owners have innovatively responded to changing market dynamics by adopting innovations in their firms aimed at maximizing on their returns as they minimize costs. Mobile-phone banking, Mobile payments commonly known as
“Lipa na M-pesa” and Agent banking for instance are common aspects of these firms. However, the effect this adoption has had on their performance has remained unclear. This is what this study sought to find out. The study sought to analyze the effect of mobile phone transfer applications on performance trends of micro and small enterprises. The sampling frame constituted all micro and small enterprises found in the hair-dressing, carpentry and clothmaking industries in Kitale town. They were estimated at 500 according to county government revenue data. Simple random sampling was used. A list of all the 500 enterprises was compiled; the researcher then made use of random number tables to generate the sample. This was best achieved by the researcher blindly picking a number in the table of random numbers, and then progressed in a random way considering numbers 001 to 500; until a sample of 110 was achieved. A questionnaire was prepared using 1 to 5 point likert scale; with 5 as strongly agree to 1 strongly disagree. The survey was carried out between July 10th and August 5th 2014 in Kitale town. Of the micro and small enterprises surveyed,68 admitted to using the innovations, 30 did not use any of the innovations while 12 did not fill the questionnaire. Mobile phone
applications were the mostly used with 46 (65.7%) of those surveyed admitting that they use them in their business, 2 (2. 9%) of those surveyed said they use Agent banking while 3 (3.1%) applied M-banking; 9(12.9%) applied all the three innovations mentioned. A sizeable group 10
(14.3%) said they used other innovations not listed for instance internet applications to get the latest fashion trends. The respondent expressed their views with 5 (strongly agree) to 1 (strongly disagree). Completed questionnaire was then collected for coding and analysis. Descriptive and statistical analysis was carried out from which the researcher was able to compute the Pearson product moment correlation (r) to establish relationship. The study revealed that there is indeed an effect of the mobile phone transfer services innovations on enterprise performance .Of the 66.3% of enterprises surveyed ,did indicate that when innovations are used they help bring more customers leading to more business income, 69.4%
indicated that the innovations save time and money while 59.2% observed that the innovations contributed to their profits and that the more they invested in them the more the profits. Based on the findings, the study recommends a tax waiver on all mobile phones and related paraphernalia to enable majority apply them even in enterprises. Entrepreneurship policies on the other hand should be well researched before implementation to guarantee sustainability.