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Challenges of the Implementation of Turnaround Strategy and Competitive Advantage of Uchumi Supermarkets Limited in Kenya

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Challenges of the Implementation of Turnaround Strategy and Competitive Advantage of Uchumi Supermarkets Limited in Kenya CHALLENGES OF THE IMPLEMENTATION OF TURNAROUND STRATEGY AND COMPETITIVE ADVANTAGE OF UCHUMI SUPERMARKETS LIMITED IN KENYA BY JOSEPH OTIENO OYUGI A RESEARCH PROJECT SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION, SCHOOL OF BUSINESS, UNIVERSITY OF NAIROBI DECEMBER, 2017 i DECLARATION I, the undersigned declare that this Research Project is my original work and has not been submitted to any other University. Signed…………………………….Date……………….. JOSEPH OTIENO OYUGI REG.NO: D61/68055/2011 This project has been submitted with the approval of the university supervisor. Signed……………………………..Date……………………. PROF. Z B AWINO SCHOOL OF BUSINESS UNIVERSITY OF NAIROBI ii ACKNOWLEDGEMENT Several people contributed to the successful completion of this project, some indirectly but to all I feel indebted. I therefore acknowledge with sincere gratitude their contribution and support. It is through almighty God’s grace by constantly renewing my strength that this project has come to its end. Special thanks go to my supervisor Professor Zack Awino for his scholarly advice, constant support, guidance and positive criticism. To my moderator professor Martin Ogutu and all the lecturers who took me through my entire course, God bless you. My heartfelt unreserved gratitude goes to CEO OF Uchumi supermarket for granting me the opportunity to interview the heads of departments of the retail chain. Their cooperation and assistance especially in getting access to the company’s information made the data collection for this research to be a very easy undertaking. iii DEDICATION This work is dedicated to my dear mother, Jane who departed during its preparation iv ABBREVIATIONS AND ACRONYMS CEO : Chief Executive Officer COO : Chief Operation Officer GDP : Gross Domestic Product GOK : Government of Kenya IMF : International Monetary Fund ISIC : International Standard Industrial Classification KCB : Kenya Commercial Bank PTA : Preferential Trade Area ROI : Return on Investment SRM : Specialized Receiver Manager v TABLE OF CONTENTS DECLARATION ......................................................................................................... ii ACKNOWLEDGEMENT .......................................................................................... iii DEDICATION ............................................................................................................ iv ABBREVIATIONS AND ACRONYMS .................................................................... v LIST OF TABLES .................................................................................................... viii LIST OF FIGURES .................................................................................................... ix ABSTRACT .................................................................................................................. x CHAPTER ONE: INTRODUCTION ........................................................................ 1 1.1 Background of the Study ......................................................................................... 1 1.1.1 Concept of Turnaround Strategy ....................................................................... 2 1.1.2 Implementation of Turnaround Strategy ........................................................... 3 1.1.3 Competitive Advantage ..................................................................................... 4 1.1.4 Challenges of the Implementation of Strategy and Competitive Advantage .... 5 1.1.5 Supermarkets Chains in Kenya ......................................................................... 7 1.1.6 Uchumi Supermarkets Ltd ................................................................................ 8 1.2 Research Problem .................................................................................................... 9 1.3 Research Objectives ............................................................................................... 10 1.4 Value of the Study ................................................................................................. 10 CHAPTER TWO: LITERATURE REVIEW ......................................................... 12 2.1 Introduction ............................................................................................................ 12 2.2 Theoretical Foundation .......................................................................................... 12 2.3. Implementation of Turnaround Strategy in Organisations ................................... 14 2.4 Empirical Studies and Knowledge Gaps................................................................ 15 CHAPTER THREE: RESEARCH METHODOLOGY ........................................ 18 3.1 Introduction ............................................................................................................ 18 3.2 Research Design..................................................................................................... 18 3.3 Data Collection ...................................................................................................... 19 3.4 Data Analysis ......................................................................................................... 20 vi CHAPTER FOUR: DATA ANALYSIS, RESULT AND DISCUSSION .............. 21 4.1 Introduction ............................................................................................................ 21 4.2 Turnaround Strategies ............................................................................................ 21 4.3 Competitive Advantage of Uchumi Supermarkets ................................................ 26 4.4 Challenges in Implementing Turnaround Strategies at Uchumi ............................ 27 4.4.1 Operational Challenges .................................................................................... 27 4.4.1 Performance Challenges .................................................................................. 30 4.5 Discussion of the Result ........................................................................................ 33 CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS ........ 42 5.1 Introduction ............................................................................................................ 42 5.2 Summary ................................................................................................................ 43 5.3 Conclusion ............................................................................................................. 45 5.4 Recommendations and Implication of the Study ................................................... 48 5.5 Limitation of the Study .......................................................................................... 49 5.6 Suggestions for Further Research .......................................................................... 50 REFERENCES ........................................................................................................... 52 APPENDICES ............................................................................................................ 56 Appendix I: Interview Guide .................................................................................... 56 Appendix II: Introduction Letter ............................................................................... 60 vii LIST OF TABLES Table 4.1 : Sales for june 2016 compared to same month in 2015 ............................ 31 viii LIST OF FIGURES Figure 4.1: Sales for June 2016 compared to same month in 2015 ........................... 32 ix ABSTRACT The objective of the study was to determine the challenges of the implementation of turnaround strategy and competitive advantage of Uchumi Supermarkets in Kenya. It explored the concept of turn around strategies, the competitive advantage and challenges bound to be experienced in implementation of turnaround strategy. This was a case study where interview guide was used to collect data from respondents. The respondents for this exercise were drawn from the heads of departments of Uchumi supermarkets. This was informed by the fact that they are the ones involved in strategic decisions. Secondary data to supplement the interview guide result was obtained from management. The study established that the retail chain had a well formulated strategic plan and excellent implementation program for its entire departments. The study also established that the business is heavily affected by competition ensuring from the liberalized economy, it is also suffering from large expansion programs it did several years back which were not based on business growth. Lack of innovative plans coupled with slow response to the modern dynamics in retail business was also established. The business is also suffering from inadequate funding and bad reputation. Internally, the business is suffering from demotivated staffs that are not sure of their future. The study recommends that the business should do work study and quantifying the output of each employee and eventually put all staff on renewal contract. The business should also consider the possibilities of renting out shelves to suppliers and outsource non-core activities. It also recommends that the stakeholders should review the objective and purpose for which this establishment was formed to justify its viability in the current dispensation. x CHAPTER ONE: INTRODUCTION 1.1 Background of the Study Rapidly changing financial and market conditions have brought unique challenges
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