EFFECT OF DIFFERENTIATION AND HYBRID STRATEGIES ON PERFORMANCE OF DEPOSIT TAKING SAVINGS AND CREDIT CO-OPERATIVE SOCIETIES IN KENYA
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Abstract
This study evaluated the impact of differentiation and hybrid strategies on the performance of deposit-taking savings and credit societies (SACCOs). SACCOs have long been a strong pillar of the Kenyan financial sector and have played a key role in deepening financial inclusivity, thus their financial health was a significant benefit to the economy. The importance of competitive strategy in driving SACCO performance could not be underestimated, as a competitive strategy specified the path a firm would employ to gain a competitive advantage. The study was driven by three key objectives (i) To determine the influence of hybrid strategy on performance 0f deposit taking SACCOs (ii) to evaluate the relationship between differentiation and performance of deposit taking SACCOs (iii) To determine the moderating effect of the size of the firm on the relationship between competitive strategies and the performance of deposit-taking savings and credit co-operatives in Kenya. The sample size of the study involved 319 respondents from 176 SACCOs. A mixed approach of both qualitative and quantitative approaches was employed using questionnaires, interview schedules, and document review. Data was analyzed using Statistical Package for Social Sciences (SPSS v21.0). Descriptive and inferential statistics were used to analyze the data and to draw conclusions. The correlation analysis showed significant positive correlations between product differentiation, hybrid strategies and size of the firm and performance in savings and credit co-operatives (SACCOs). Regression analysis further revealed the importance of these strategies, hybrid strategies (Beta = 0.337, p < 0.000) and product differentiation (Beta = 0.668, p > 0.05).Based on the findings, SACCOs are recommended to adopt diversified approaches, embrace technology-focused competitive strategies, prioritize staff training and development, adhere to regulatory requirements, and maintain adequate capital reserves. Furthermore, suggestions for further study include longitudinal analyses, comparative studies across diverse SACCOs, empirical validation through quantitative surveys, qualitative inquiry methods, impact evaluations, and policy analyses.
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References
Achieng, S. G. (2021). The role of innovation in attaining sustainable competitive advantage among Deposit-Taking Savings and Credit Cooperatives (SACCOS) in Nairobi County, Kenya (Doctoral dissertation, Strathmore University).
Adderley, I. (2019). Don't forget the definition: The importance of 'and' versus 'or'. Journal of Co-operative Studies, 52(2), pp. 19-21
Alita, D., Putra, A. D., & Darwis, D. (2021). Analysis of classic assumption test and multiple linear regression coefficient test for employee structural office recommendation. IJCCS (Indonesian Journal of Computing and Cybernetics Systems), 15(3), 295-306.
Birru, A. C., Sudarmiatin, S., & Hermawan, A. (2022). Competitive strategies in the lodging service sector: Five porter analyses and case study SWOT analysis. Journal of Business and Management Review, 3(1), 001-017.
Bloomfield, J., & Fisher, M. J. (2019). Quantitative research design. Journal of the Australasian Rehabilitation Nurses Association, 22(2), 27-30.
Buchdadi, A. D., Ulupui, I. G. K. A., Dalimunthe, S., Pamungkas, B. G., & Fauziyyah, Y. (2019). Board of director meeting and firm performance. Academy of Accounting and Financial Studies Journal, 23(2), 1-7.
Callegari, B., & Nybakk, E. (2022). Schumpeterian theory and research on forestry innovation and entrepreneurship: The state of the art, issues and an agenda. Forest Policy and Economics, 138, 102720.
Chepngetich, E., & Kimencu, L. (2018). Competitive strategies and performance of mobile service providers in Nairobi, Kenya. International Journal of Contemporary Aspects in Strategic Management (IJCASM), 2, 45-58.
Correia, R. J., Dias, J. G., & Teixeira, M. S. (2020). Dynamic capabilities and competitive advantages as mediator variables between market orientation and business performance. Journal of Strategy and Management, 14(2), 187-206.
Cuypers, I. R. P., Hennart, J. F., Silverman, B. S., &Ertug, G. (2021). Transaction Cost Theory: Past Progress, Current Challenges, and Suggestions for the Future. Academy of Management Annals, 15(1), 111-150.
Deepak, R. K. A., & Jeyakumar, S. (2019). Marketing management. Educreation Publishing.
Dmytriyev, S. D., Freeman, R. E., & Hörisch, J. (2021). The relationship between stakeholder theory and corporate social responsibility: Differences, similarities, and implications for social issues in management. Journal of Management Studies, 58(6), 1441-1470.
Dörnyei, Z., & Dewaele, J. M. (2022). Questionnaires in second language research: Construction, administration, and processing. Taylor & Francis.
Emami Langroodi, F. (2021). Schumpeter’s Theory of Economic Development: a study of the creative destruction and entrepreneurship effects on the economic growth. Journal of Insurance and Financial Management, 4(3).
Habeeb, R. A. A., Nasaruddin, F., Gani, A., Hashem, I. A. T., Ahmed, E., & Imran, M. (2019). Real-time big data processing for anomaly detection: A survey. International Journal of Information Management, 45, 289-307.
Hamzat, I. B. (2020). Competitive Strategies and Firms’ Performance: A Comparative Analysis of Selected Firms in Telecommunication Industry.
Hennart, J. F., & Verbeke, A. (2022). Actionable and enduring implications of Oliver Williamson’s transaction cost theory. Journal of International Business Studies, 53(8), 1557-1575.
Hossin, M. S. (2019). Microfinance Governance: A Multitheoretical Approach for Ascertaining the Wider Stakeholder Influencing Forces. Rahman, IKA, Hussain, MD, and Hossin, MS (2019). Microfinance governance: A multi-theoretical approach for ascertaining the wider stakeholder influencing forces. Asian Academy of Management Journal, 24, 203-216.
International Co-operative Alliance (ICA). (2018). Cooperative identity, values and principles. ICA. https:// www.ica.coop/en/cooperatives/cooperative-identity
Ismaila, B., Gamede, V. W., & Okeke-Uzodike, O. E. (2022). Causes of the low penetration rate in the South African co-operative financial institution sector: A consumer perspective. Journal of Contemporary Management, 19(1), 30-56.
Jia, N., Bagam, L., Fabijanczyk, P., & Ceesay, E. (2022, June). Machine learning models for customer relationship analysis to improve satisfaction rate in banking. In 2022 IEEE International IOT, Electronics and Mechatronics Conference (IEMTRONICS) (pp. 1-9). IEEE.
Kabue, L. W., Kilika, J. M., & Waithaka, P. M. (2023). Social Capital Resource Attributes Affecting Performance in Deposit-taking Savings and Credit Co-operatives in Kenya.
Kiveu, M. N., Namusonge, M., & Muathe, S. (2019). Effect of innovation on firm competitiveness: the case of manufacturing SMEs in Nairobi County, Kenya. International Journal of Business Innovation and Research, 18(3), 307-327.
Köhler, T., Smith, A., & Bhakoo, V. (2022). Templates in qualitative research methods: Origins, limitations, and new directions. Organizational Research Methods, 25(2), 183-210.
Korir, F. K. (2021). Impact of Strategic Alliances on the Competitive Advantage of Savings and Credit Cooperatives in Kenya (Doctoral dissertation, University of Nairobi).
Lapersonne, A. H. (2018). The hybrid competitive strategy framework. Journal of Business Strategy, 39(3), 44-54. https://doi.org/10.1108/JBS-10-2017-0154anchester (United Kingdom).
Maina, E. N., & Waithaka, P. (2018) DIFFERENTIATION STRATEGY AND PERFORMANCE OF DEPOSIT TAKING SACCOS IN MURANG’A COUNTY, KENYA.
Maina, P. K. (2023). Effect of Innovation Strategies on Competitive Advantage of Mwalimu National Sacco in Nairobi (Doctoral dissertation, University of Nairobi).
Makau, S. M., & Ouma, C. (2017). Effect of Competitive Strategies on Financial Performance of Savings and Credit Cooperatives in Kenya. International Journal of Business and Social Science, 8(1), 174-185.
Marcoulides, K. M., & Raykov, T. (2019). Evaluation of variance inflation factors in regression models using latent variable modeling methods. Educational and psychological measurement, 79(5), 874-882.
Mata-López, W. A., Juárez-Hernández, L. G., Tobón, S., & Montesinos-López, O. A. (2021). ANALYSIS OF CONSTRUCT VALIDITY AND RELIABILITY OF TWO INSTRUMENTS TO EVALUATE PROFESSIONAL ORIENTED ACTIVITIES. Revista Española de Orientación y Psicopedagogía (REOP), 32(2).
Mbugua, J. W., & Kinyua, G. M. (2020). Service Differentiation and Organization Performance: An Empirical Analysis of Deposit Taking SACCOs in Nairobi City County, Kenya. Journal of Business and Economic Development, 5(2), 64-72.
Miles, R. E., & Snow, C. C. (1978). Organizational Strategy, Structure, and Process. McGraw-Hill.
Miles, R. E., & Snow, C. C. (2003). Organizational Strategy, Structure, and Process. In D. C. Hambrick & J. W. Fredrickson (Eds.), Are You Sure You Have a Strategy? Academy of Management Executive, 17(2), 51-62.
Moore, H. L., Moore, T. W., & Bird, K. (2022). Credit Union Customer Satisfaction and Succession Planning: Leadership Is the Key. International Leadership Journal, 14(2).
Muhaise, H., Ejiri, A. H., Muwanga-Zake, J. W. F., & Kareyo, M. (2020). The Research Philosophy Dilemma for Postgraduate Student Researchers. International Journal of Research and Scientific Innovation, 7(4), 2321-2705.
Mutuku, K., Oloko, M., & Muturi, W. (2024). Influence of Differentiation Strategy on Financial Performance of Deposit-Taking Saccos in Kenya. European Journal of Business and Strategic Management, 9(1), 1-11.
Mutunga, D., & Owino, E. (2017). Effect of Management Practices on the Financial Performance of Manufacturing Firms in Kenya.
Mwangangi, V. M. (2018). Influence of Knowledge Management on the Relationship Between Innovation Strategy and Competitiveness of Mobile Telecommunication Firms in Kenya (Doctoral dissertation, University of Nairobi).
Nagle, T. T., & Muller, G. (2018). The strategy and tactics of pricing. Routledge.
Njera, M. (2023). Product Differentiation and Performance at Tier 3 Deposit Taking Saccos in Kenya (Doctoral dissertation, University of Nairobi).
Njomo, G., & Margaret, O. (2016). Market Penetration Strategies and Organizational Growth: A Case of Soft Drink. International Journal of Management and Commerce Innovations, 3(2), 219-227.
Ben Slama, R., Ajina, A., & Lakhal, F. (2019). Board gender diversity and firm financial performance in France: Empirical evidence using quantile difference-in-differences and dose-response models. Cogent Economics & Finance, 7(1), 1626526.
NORMAN, D. R. (2019). Competitive Strategies and Performance of Selected Car Rental Businesses in Nairobi City County, Kenya (Doctoral dissertation, Kenyatta University).
Obondi, E. M., & Bett, S. (2018). Competitive strategies and the performance of Matatus in the public service transport sector in Nairobi City County, Kenya. International Academic Journal of Human Resource and Business Administration, 3(4), 150-173.
Ocholla, D. N., & Majanga, B. A. (2019). Competitive Strategies Adopted by Savings and Credit Cooperatives in Kenya. International Journal of Advanced Research and Publications, 3(8), 174-185
Omayio, L. (2017). Competitive strategy and organizational performance of telecommunications industry in Kenya (Doctoral dissertation, University of Nairobi).
Pandey, P., & Pandey, M. M. (2021). Research methodology tools and techniques. Bridge Center.
Pearson, N., Naylor, P. J., Ashe, M. C., Fernandez, M., Yoong, S. L., & Wolfenden, L. (2020). Guidance for conducting feasibility and pilot studies for implementation trials. Pilot and feasibility studies, 6, 1-12.
Peng, G.Z. (2021). Is transaction cost economics behavioral? In: Toward behavioral transaction cost economics. International Marketing and Management Research. Palgrave Macmillan, 6 (1), 30-37
Porter, M. E., & Strategy, C. (1980). Techniques for analyzing industries and competitors. Competitive Strategy. New York: Free.
Rezigalla, A. A. (2020). Observational study designs: Synopsis for selecting an appropriate study design. Cureus, 12(1).
Rindfleisch, A. (2020). Transaction cost theory: past, present and future. AMS Review, 10(1-2), 85-97.
Roberts, Rosanne E. "Qualitative Interview Questions: Guidance for Novice Researchers." Qualitative Report 25.9 (2020).
SACCO Societies Regulatory Authority (2018). The Sacco supervision annual report 2016. Retrieved from http://www.sasra.go.ke/
SACCO Societies Regulatory Authority (2020). The Sacco supervision annual report 2016. Retrieved from http://www.sasra.go.ke/
SACCO Societies Regulatory Authority (2022). The Sacco supervision annual report 2016. Retrieved from http://www.sasra.go.ke/
Schrepp, M. (2020). On the Usage of Cronbach's Alpha to Measure Reliability of UX Scales. Journal of Usability Studies, 15(4).
Shin, N., Park, S. H., & Park, S. (2019). Partnership-based supply chain collaboration: Impact on commitment, innovation, and firm performance. Sustainability, 11(2), 449.
Sileyew, K. J. (2019). Research design and methodology. Cyberspace, 1-12.
Taiwo, O. (2019). Evaluation of the effects of micro, small and medium enterprises finance policy on job creation in Nigeria.
Thu, E. T. H. (2022). Competitive Strategies, Business Performance and Sustainability of DGB Microfinance Myanmar Co., LtD (Doctoral dissertation, MERAL Portal).
Wallace, C. K., & Kilika, J. (2021). Strategic innovations and competitiveness of saccos in South Imenti Sub-county, Meru County. International Academic Journal of Innovation, Leadership and Entrepreneurship, 2 (2), 93, 117, 2.
Wekesa, W. S., & Kosimbei, G. M. (2018). Competitive Strategies and Financial Performance of Savings and Credit Cooperatives in Kenya. International Journal of Economics, Commerce and Management,
Williamson, O. E. (1979). Transaction-cost economics. Journal of Law and Economics, 22(2), 233– 261.
Williamson, O. E. (1988). Technology and transaction cost economics. Journal of Economic Behavior & Organization, 10(3), 355–363.
Xie, X., Huo, J., & Zou, H. (2019). Green process innovation, green product innovation, and corporate financial performance: A content analysis method. Journal of business research, 101, 697-706.
Adderley, I. (2019). Don't forget the definition: The importance of 'and' versus 'or'. Journal of Co-operative Studies, 52(2), pp. 19-21
Alita, D., Putra, A. D., & Darwis, D. (2021). Analysis of classic assumption test and multiple linear regression coefficient test for employee structural office recommendation. IJCCS (Indonesian Journal of Computing and Cybernetics Systems), 15(3), 295-306.
Birru, A. C., Sudarmiatin, S., & Hermawan, A. (2022). Competitive strategies in the lodging service sector: Five porter analyses and case study SWOT analysis. Journal of Business and Management Review, 3(1), 001-017.
Bloomfield, J., & Fisher, M. J. (2019). Quantitative research design. Journal of the Australasian Rehabilitation Nurses Association, 22(2), 27-30.
Buchdadi, A. D., Ulupui, I. G. K. A., Dalimunthe, S., Pamungkas, B. G., & Fauziyyah, Y. (2019). Board of director meeting and firm performance. Academy of Accounting and Financial Studies Journal, 23(2), 1-7.
Callegari, B., & Nybakk, E. (2022). Schumpeterian theory and research on forestry innovation and entrepreneurship: The state of the art, issues and an agenda. Forest Policy and Economics, 138, 102720.
Chepngetich, E., & Kimencu, L. (2018). Competitive strategies and performance of mobile service providers in Nairobi, Kenya. International Journal of Contemporary Aspects in Strategic Management (IJCASM), 2, 45-58.
Correia, R. J., Dias, J. G., & Teixeira, M. S. (2020). Dynamic capabilities and competitive advantages as mediator variables between market orientation and business performance. Journal of Strategy and Management, 14(2), 187-206.
Cuypers, I. R. P., Hennart, J. F., Silverman, B. S., &Ertug, G. (2021). Transaction Cost Theory: Past Progress, Current Challenges, and Suggestions for the Future. Academy of Management Annals, 15(1), 111-150.
Deepak, R. K. A., & Jeyakumar, S. (2019). Marketing management. Educreation Publishing.
Dmytriyev, S. D., Freeman, R. E., & Hörisch, J. (2021). The relationship between stakeholder theory and corporate social responsibility: Differences, similarities, and implications for social issues in management. Journal of Management Studies, 58(6), 1441-1470.
Dörnyei, Z., & Dewaele, J. M. (2022). Questionnaires in second language research: Construction, administration, and processing. Taylor & Francis.
Emami Langroodi, F. (2021). Schumpeter’s Theory of Economic Development: a study of the creative destruction and entrepreneurship effects on the economic growth. Journal of Insurance and Financial Management, 4(3).
Habeeb, R. A. A., Nasaruddin, F., Gani, A., Hashem, I. A. T., Ahmed, E., & Imran, M. (2019). Real-time big data processing for anomaly detection: A survey. International Journal of Information Management, 45, 289-307.
Hamzat, I. B. (2020). Competitive Strategies and Firms’ Performance: A Comparative Analysis of Selected Firms in Telecommunication Industry.
Hennart, J. F., & Verbeke, A. (2022). Actionable and enduring implications of Oliver Williamson’s transaction cost theory. Journal of International Business Studies, 53(8), 1557-1575.
Hossin, M. S. (2019). Microfinance Governance: A Multitheoretical Approach for Ascertaining the Wider Stakeholder Influencing Forces. Rahman, IKA, Hussain, MD, and Hossin, MS (2019). Microfinance governance: A multi-theoretical approach for ascertaining the wider stakeholder influencing forces. Asian Academy of Management Journal, 24, 203-216.
International Co-operative Alliance (ICA). (2018). Cooperative identity, values and principles. ICA. https:// www.ica.coop/en/cooperatives/cooperative-identity
Ismaila, B., Gamede, V. W., & Okeke-Uzodike, O. E. (2022). Causes of the low penetration rate in the South African co-operative financial institution sector: A consumer perspective. Journal of Contemporary Management, 19(1), 30-56.
Jia, N., Bagam, L., Fabijanczyk, P., & Ceesay, E. (2022, June). Machine learning models for customer relationship analysis to improve satisfaction rate in banking. In 2022 IEEE International IOT, Electronics and Mechatronics Conference (IEMTRONICS) (pp. 1-9). IEEE.
Kabue, L. W., Kilika, J. M., & Waithaka, P. M. (2023). Social Capital Resource Attributes Affecting Performance in Deposit-taking Savings and Credit Co-operatives in Kenya.
Kiveu, M. N., Namusonge, M., & Muathe, S. (2019). Effect of innovation on firm competitiveness: the case of manufacturing SMEs in Nairobi County, Kenya. International Journal of Business Innovation and Research, 18(3), 307-327.
Köhler, T., Smith, A., & Bhakoo, V. (2022). Templates in qualitative research methods: Origins, limitations, and new directions. Organizational Research Methods, 25(2), 183-210.
Korir, F. K. (2021). Impact of Strategic Alliances on the Competitive Advantage of Savings and Credit Cooperatives in Kenya (Doctoral dissertation, University of Nairobi).
Lapersonne, A. H. (2018). The hybrid competitive strategy framework. Journal of Business Strategy, 39(3), 44-54. https://doi.org/10.1108/JBS-10-2017-0154anchester (United Kingdom).
Maina, E. N., & Waithaka, P. (2018) DIFFERENTIATION STRATEGY AND PERFORMANCE OF DEPOSIT TAKING SACCOS IN MURANG’A COUNTY, KENYA.
Maina, P. K. (2023). Effect of Innovation Strategies on Competitive Advantage of Mwalimu National Sacco in Nairobi (Doctoral dissertation, University of Nairobi).
Makau, S. M., & Ouma, C. (2017). Effect of Competitive Strategies on Financial Performance of Savings and Credit Cooperatives in Kenya. International Journal of Business and Social Science, 8(1), 174-185.
Marcoulides, K. M., & Raykov, T. (2019). Evaluation of variance inflation factors in regression models using latent variable modeling methods. Educational and psychological measurement, 79(5), 874-882.
Mata-López, W. A., Juárez-Hernández, L. G., Tobón, S., & Montesinos-López, O. A. (2021). ANALYSIS OF CONSTRUCT VALIDITY AND RELIABILITY OF TWO INSTRUMENTS TO EVALUATE PROFESSIONAL ORIENTED ACTIVITIES. Revista Española de Orientación y Psicopedagogía (REOP), 32(2).
Mbugua, J. W., & Kinyua, G. M. (2020). Service Differentiation and Organization Performance: An Empirical Analysis of Deposit Taking SACCOs in Nairobi City County, Kenya. Journal of Business and Economic Development, 5(2), 64-72.
Miles, R. E., & Snow, C. C. (1978). Organizational Strategy, Structure, and Process. McGraw-Hill.
Miles, R. E., & Snow, C. C. (2003). Organizational Strategy, Structure, and Process. In D. C. Hambrick & J. W. Fredrickson (Eds.), Are You Sure You Have a Strategy? Academy of Management Executive, 17(2), 51-62.
Moore, H. L., Moore, T. W., & Bird, K. (2022). Credit Union Customer Satisfaction and Succession Planning: Leadership Is the Key. International Leadership Journal, 14(2).
Muhaise, H., Ejiri, A. H., Muwanga-Zake, J. W. F., & Kareyo, M. (2020). The Research Philosophy Dilemma for Postgraduate Student Researchers. International Journal of Research and Scientific Innovation, 7(4), 2321-2705.
Mutuku, K., Oloko, M., & Muturi, W. (2024). Influence of Differentiation Strategy on Financial Performance of Deposit-Taking Saccos in Kenya. European Journal of Business and Strategic Management, 9(1), 1-11.
Mutunga, D., & Owino, E. (2017). Effect of Management Practices on the Financial Performance of Manufacturing Firms in Kenya.
Mwangangi, V. M. (2018). Influence of Knowledge Management on the Relationship Between Innovation Strategy and Competitiveness of Mobile Telecommunication Firms in Kenya (Doctoral dissertation, University of Nairobi).
Nagle, T. T., & Muller, G. (2018). The strategy and tactics of pricing. Routledge.
Njera, M. (2023). Product Differentiation and Performance at Tier 3 Deposit Taking Saccos in Kenya (Doctoral dissertation, University of Nairobi).
Njomo, G., & Margaret, O. (2016). Market Penetration Strategies and Organizational Growth: A Case of Soft Drink. International Journal of Management and Commerce Innovations, 3(2), 219-227.
Ben Slama, R., Ajina, A., & Lakhal, F. (2019). Board gender diversity and firm financial performance in France: Empirical evidence using quantile difference-in-differences and dose-response models. Cogent Economics & Finance, 7(1), 1626526.
NORMAN, D. R. (2019). Competitive Strategies and Performance of Selected Car Rental Businesses in Nairobi City County, Kenya (Doctoral dissertation, Kenyatta University).
Obondi, E. M., & Bett, S. (2018). Competitive strategies and the performance of Matatus in the public service transport sector in Nairobi City County, Kenya. International Academic Journal of Human Resource and Business Administration, 3(4), 150-173.
Ocholla, D. N., & Majanga, B. A. (2019). Competitive Strategies Adopted by Savings and Credit Cooperatives in Kenya. International Journal of Advanced Research and Publications, 3(8), 174-185
Omayio, L. (2017). Competitive strategy and organizational performance of telecommunications industry in Kenya (Doctoral dissertation, University of Nairobi).
Pandey, P., & Pandey, M. M. (2021). Research methodology tools and techniques. Bridge Center.
Pearson, N., Naylor, P. J., Ashe, M. C., Fernandez, M., Yoong, S. L., & Wolfenden, L. (2020). Guidance for conducting feasibility and pilot studies for implementation trials. Pilot and feasibility studies, 6, 1-12.
Peng, G.Z. (2021). Is transaction cost economics behavioral? In: Toward behavioral transaction cost economics. International Marketing and Management Research. Palgrave Macmillan, 6 (1), 30-37
Porter, M. E., & Strategy, C. (1980). Techniques for analyzing industries and competitors. Competitive Strategy. New York: Free.
Rezigalla, A. A. (2020). Observational study designs: Synopsis for selecting an appropriate study design. Cureus, 12(1).
Rindfleisch, A. (2020). Transaction cost theory: past, present and future. AMS Review, 10(1-2), 85-97.
Roberts, Rosanne E. "Qualitative Interview Questions: Guidance for Novice Researchers." Qualitative Report 25.9 (2020).
SACCO Societies Regulatory Authority (2018). The Sacco supervision annual report 2016. Retrieved from http://www.sasra.go.ke/
SACCO Societies Regulatory Authority (2020). The Sacco supervision annual report 2016. Retrieved from http://www.sasra.go.ke/
SACCO Societies Regulatory Authority (2022). The Sacco supervision annual report 2016. Retrieved from http://www.sasra.go.ke/
Schrepp, M. (2020). On the Usage of Cronbach's Alpha to Measure Reliability of UX Scales. Journal of Usability Studies, 15(4).
Shin, N., Park, S. H., & Park, S. (2019). Partnership-based supply chain collaboration: Impact on commitment, innovation, and firm performance. Sustainability, 11(2), 449.
Sileyew, K. J. (2019). Research design and methodology. Cyberspace, 1-12.
Taiwo, O. (2019). Evaluation of the effects of micro, small and medium enterprises finance policy on job creation in Nigeria.
Thu, E. T. H. (2022). Competitive Strategies, Business Performance and Sustainability of DGB Microfinance Myanmar Co., LtD (Doctoral dissertation, MERAL Portal).
Wallace, C. K., & Kilika, J. (2021). Strategic innovations and competitiveness of saccos in South Imenti Sub-county, Meru County. International Academic Journal of Innovation, Leadership and Entrepreneurship, 2 (2), 93, 117, 2.
Wekesa, W. S., & Kosimbei, G. M. (2018). Competitive Strategies and Financial Performance of Savings and Credit Cooperatives in Kenya. International Journal of Economics, Commerce and Management,
Williamson, O. E. (1979). Transaction-cost economics. Journal of Law and Economics, 22(2), 233– 261.
Williamson, O. E. (1988). Technology and transaction cost economics. Journal of Economic Behavior & Organization, 10(3), 355–363.
Xie, X., Huo, J., & Zou, H. (2019). Green process innovation, green product innovation, and corporate financial performance: A content analysis method. Journal of business research, 101, 697-706.