Author(s): Edwin Elisha-Omondi
Businesses experience multiple opportunities and challenges in an increasingly idynamic environment, thus it is becoming very important for businesses including Family businesses to understand their environment and how to adapt as they remain steadfast on their goals, and objectives. Strategies denote the decisions and actions that firms use to respond to changes in their environment. Family enterprises are more likely to face unique difficulties, including resource constraints and family members' meddling. Family-owned businesses may be able to adjust to the changes while maintaining their momentum toward goals and objectives by implementing strategic management techniques. The resource-Based View and open systems theory are the study's guiding theories. The study’s primary goal is to determine how different strategic management approaches affect the performance of family-owned businesses in Kajiado County, Kenya. The objectives are to determine how organizational systems and structure design impact family-owned company performance and how skills impact family-owned business success in Kajiado County, Kenya. Return on Assets is one metric used to assess how well family-owned businesses perform. The efficacy and protocols of strategic management are the phenomena under inquiry in this example, and the descriptive study methodology aids in collecting data and information to characterize the phenomenon. The study's target audience was family-run businesses in Kajiado County, Kenya. Fifty-two of the sample companies provided semi-structured questionnaires to collect primary data. Both inferential and descriptive statistics (such as percentages frequencies, means, averages, and modes) were used to examine the data. The study employed inferential statistics and incredible linear regression to determine the significance and correlation between specific strategic management strategies and the success of family-owned businesses. When appropriate, charts, tables, graphs, and narratives were used into convey the analysis's findings. The findings showed that enhancing organizational systems, structures, and skills is crucial for raising performance. The medium- and long-term performance prospects have been bolstered by Family-owned firms by implementing several strategic management strategies. One suggestion is to gradually apply strategic management concepts to allow previous accomplishments to act as a springboard for new endeavors.