Effect of Strategic Management Practices on Performance of Private Schools in Bungoma South Sub-County
DOI:
https://doi.org/10.70619/vol3iss3pp24-32Keywords:
Strategic financial management, strategic human resource management, strategic leadership, performance, private schoolAbstract
This study aimed to examine the effect of strategic management practices on the performance of private schools in the Bungoma South Sub-County. The study adopted a descriptive research design to observe and describe the study phenomenon and to assess the relationship between the variables. The target population included private schools located in Bungoma South sub-county. Data was collected through questionnaires from ten selected private schools in the sub-county based on a stratified sampling design. The data was analyzed quantitatively using descriptive and linear multiple regression analysis methods. The coefficients drawn from the multiple regression model showed that the variables impact the performance of private schools although at different levels. For instance, strategic leadership was found to have the highest predictive effect on the performance of private schools (β=2.698, P=0.07) followed by strategic financial management (β=1.8018, 0.022) and strategic human resource management (β=0.9592, p=0.04). Leadership in private schools should remain proactive in accepting and pursuing change with the changing dynamics in the business environment. Private schools in the Bungoma South sub-county should pursue novel strategic financial decisions such as diversifying their operations and revenue sources to expand their revenue base beyond teaching. Private schools should be proactive in incorporating financial planning as a strategy to control costs, set realizable financial targets, and guarantee improved transparency and accountability to enhance the financial performance and stability of the schools.
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