International Journal of Innovative Research and Development

Abstract

Poverty has resulted to limited means of living, leading low income earners to outsource other means of improving their living standards. Formation of savings and credit co-operatives has been one successful avenue. Over time they have strived to mobilize funds and grant credit to their members but they have not been able to sufficiently grow. This study sought to assess prudent financial management practices on growth of Savings and Credit Cooperative Societies (SACCOs) in Nakuru County.  Study objective was to establish the effects of prudent external borrowing practices on growth of SACCOs in Nakuru County. The study was conducted using descriptive survey research design. The study population comprised of all the financial and operations managers of 106 registered SACCOs in Nakuru County. The sampling frame was drawn from the Kenya Union of Savings and Credit Co-operatives list of registered SACCOs in Nakuru County. The sample size for the study composed of 84 managers of SACCOs in Nakuru County. Stratified random sampling technique was used to select the two strata in the study sample; 42 operation managers and 42 finance managers. Primary data was obtained from the managers of the SACCOs using a structured questionnaire. Data was analyzed using descriptive statistics such as frequency counts, percentages, means and standard deviation. Pearson correlation was used to analyze the relationship between variables. The study found out that prudent external borrowing had a positive impact on growth of Saccos therefore; the researcher recommended that Central Bank of Kenya, which has the mandate of overseeing the implementation of prudent financial management practices should design a strategy for ensuring adoption and implementation of prudent financial practices in Saccos. 

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Microfinance industry has emerged as a powerful avenue for poverty alleviation globally. However it has witnessed a rise in the number of micro finance institutions which are all competing for the same market in Kenya. Following the changes in the environment, micro finance institutions have been forced to come up with competitive strategies hence this study sought to establish the competitive strategies employed by microfinance institutions and their effects on survival. The specific objectives of the study included: to assess the effects of defensive market strategy on survival of microfinance institutions, to establish how dodging strategy on survival of microfinance institutions and to determine the effects of expansion strategy on survival of microfinance institutions. The key variables of the study were: defensive market strategy, dodging strategy and expansion strategy. The study thus adopted a descriptive survey design where selected micro finance institution managers and business development officers rated their institutions on the basis of the study variables to capture information the way it was without manipulation. Stratified random sampling method was used to select the elements of the study sample. The target population for the study comprised of all the sales managers, and business development officers of micro finance institutions with operations in Nakuru Town. Data was collected by use of questionnaires designed by the researcher and based on the study objectives. The data was then analyzed using descriptive statistics such as percentages, frequencies, mean and standard deviation. Multivariate regression analysis was also done to deduce statistical inferences. The study revealed that: competitive strategies applied by micro finance institutions had an impact on the survival of micro finance institutions and overreliance on defensive strategies had a negative impact on firms survival. Further offensive strategies when carefully selected had a positive impact on firms survival by helping them to venture into markets for the future and dodging strategies are the most effective in enhancing firms survival. They enhance firms market growth with minimum competition costs. 

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The purpose of this study was to determine the contemporary strategic roles of elected student council on the management of public secondary schools. The study was based on a descriptive survey design. The target population was 135 student leaders and 12 deputy principals in public secondary schools in the Nakuru East Sub County. A sample size of 7 secondary schools was randomly selected through stratified sampling. Purposive sampling was used to select 7 deputy principals while stratified and simple random sampling was used to select a sample of 100 student leaders. Data was collected by the use of questionnaires and interview schedules. Descriptive and inferential statistics was used in data analysis. Descriptive statistics included mean, percentages and standard deviations while inferential statistics used included Pearson correlation analysis. The study concluded that there was positive relationship between leadership roles, communication channel, discipline roles and decision making and school management. Thus the study established leadership roles, communication roles, discipline roles and decision making roles were the contemporary roles of the student council in the school management in secondary schools in the Nakuru East Sub County. The study, recommends that the student council should be empowered, be allowed to participate more in decision-making on matters concerning students’ welfare so as to help reduce problems faced in secondary schools in the Nakuru East Sub County and to participate in management meetings to represent the student body.

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