ENTREPRENEURIAL LEADERSHIP AND THE SUSTAINABILITY OF SAVINGS AND CREDIT CO-OPERATIVES IN KENYA
Main Article Content
Abstract
Purpose: The purpose of the study was to explore the influence of risk entrepreneurial leadership on the sustainability of SACCOs in Kenya. The study sought to provide insights on the key focus areas, which contribute towards the sustainability of SACCOs in Kenya. The study was confined to SACCOs within 5 Counties of Nairobi, Kiambu, Machakos, Muranga and Kajiado A sample size of 174 SACCOs was taken.
Methodology: Descriptive research design was adopted for this study. The use of objective and quantifiable data enabled the researcher to generalize the results of the study to the entire population. The correlation coefficient between SACCO sustainability and creativity is 0.389 with a p-value of 0.000 for a 5% 2-tail test; risk taking is 0.488 with a p-value of 0.000 for a 5% 2-tail test. Correlation coefficient between SACCO sustainability and innovative marketing is 0.430 with a p-value of 0.000 for a 5% 2-tail test while correlation coefficient between SACCO sustainability and delegating is 0.634 with a p-value of 0.000 for a 5% 2-tail test
Findings: The study concludes that entrepreneurial leadership positively influences sustainability of SACCOs in Kenya. The findings imply that the four independent variables and the moderating variable combined have a role in explaining the sustainability of SACCO’s in Kenya. The correlation coefficient between SACCO sustainability and creativity, Risk taking, innovative marketing and delegating has a positive and significant relationship between the variables. Moderating Variable which is SACCO regulation has a significant effect on their sustainability.
Unique contribution to the theory and policy: The study reinforces previous finding to the effect that sustainability of SACCOs is associated with Entrepreneurial Leadership. It will make significant contribution to the body of knowledge especially in the Kenyan context. SACCO leaders can re-look at their current entrepreneurial leadership competencies and adjust accordingly through training. Policy makers can borrow from this study and formulate policies that are geared towards enhancing entrepreneurial leadership. It also brings new knowledge that entrepreneurial leadership could be addressed in terms of creativity, risk taking, innovation marketing and delegating. This has widened the interpretation of entrepreneurial leadership on the sustainability of SACCOs.
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References
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Bailey, N., Kleinhans, R., & Lindbergh, J. (2018). The implications of Schumpeter's theories of innovation for the role, organisation and impact of community-based social enterprise in three european countries. Journal of Entrepreneurial and Organizational Diversity, 7(1), 14-36.
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Begajo T. M. (2018). The Role of Saving and Credit Cooperatives in Improving Rural Micro Financing: The Case of Bench Maji, Kaffa, Shaka Zones. World Journal of Business and Management Vol. 4, No. 2.
Blank, S., & Dorf, B. (2020). The startup owner's manual: The step-by-step guide for building a great company. John Wiley & Sons.
Blok, V. (2021). What is innovation? Laying the ground for a philosophy of innovation. Techne: research in philosophy and technology, 25(1), 72-96.
Bolarinwa, O. A. (2020). Sample size estimation for health and social science researchers: The principles and considerations for different study designs. Nigerian Postgraduate Medical Journal, 27(2), 67-75.
Brunori, G., & Galli, F. (2016). Sustainability of local and global food chains: Introduction to the special issue. Sustainability, 8(8), 765.
Caliendo, M., Fossen, F., & Kritikos, A. (2010). The impact of risk attitudes on entrepreneurial survival. Journal of Economic Behavior & Organization, 76(1), 45-63.
Cai, W., Lysova, E., Khapova, S., & Bossink, B. (2018). Does Entrepreneurial Leadership Foster Creativity Among Employees and Teams? The Mediating Role of Creative Efficacy Beliefs. Journal of Business and Psychology. 34:203–217 https://doi.org/10.1007/s10869-018-9536-y.
Caiado, R., Quelhas, O., Nacimento, D., & Filho, W. (2017). Measurement of sustainability performance in Brazilian organizations. International Journal of Sustainable Development & World Ecology.
Cascio, W. F., & Montealegre, R. (2016). How technology is changing work and organizations. Annual review of organizational psychology and organizational behavior, 3(1), 349-375.
Cole, H. L., Greenwood, J., & Sanchez, J. M. (2016). Why doesn't technology flow from rich to poor countries? Econometrica, 84(4), 1477-1521.
Colli, M., Berger, U., Bockholt, M., Madsen, O., Møller, C., & Wæhrens, B. V. (2019). A maturity assessment approach for conceiving context-specific roadmaps in the Industry era. Annual Reviews in Control, 48, 165-177.
Cummins, D., Gilmore, A., Carson, D. and O’Donnell, A. (2000). “What is innovative marketing in SMEs? Towards a conceptual and descriptive framework”, AMA Conference Proceedings, July.
Dabo, S. A. (2022). Role of Entrepreneurial Characteristics of Micro and Small Enterprise Owners in Poverty Reduction in Nigeria. Unpublished Doctoral Thesis, Jomo Kenyatta University of Agriculture and Technology, Nairobi:
Darmawan, A., Suyoto, S., Widhiandono, H., bin Abd Razak, A. Z. A., & Ab Wahab, H. B. (2022). Effects of leadership, risk-taking, innovation, intensive participation and contribution participation on the performance of cooperative in Banyumas, Central Java. International Journal of Economics, Business and Accounting Research (IJEBAR), 6(1), 910-921.
Demarin, V., & Derke, F. (2020). Creativity—the story continues: An overview of thoughts on creativity. Mind and brain: Bridging neurology and psychiatry, 1-20.
Dlamini, T. L. (2023). Factors affecting adoption of mobile money by farming households in Lomahasha Inkundla of the Lubombo Region, Eswatini.
Esmer, Y., & Dayi, F. (2018). A New Paradigm In Management: Ethical Leadership, Mehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi Vol 4, Sayi Issue 2.
Esmer, Y., & Dayi, F. (2017). Entrepreneurial Leadership: A Theoretical Framework. Researgegate.
Gweyi, M. O., Influence of Financial Risk on Financial Performance of Deposit Taking Savings and Credit Co-Operatives Societies in Kenya. Unpublished Doctoral Thesis, Jomo Kenyatta University of Agriculture and Technology, Nairobi:
Hilmi, N., Safa, A., Planas-Bielsa, V., Kadmiri, Y., & Cinar, M. (2017). Ocean acidification in the Middle East and North African region. Reg. Dev, 46, 43-57.
Harrison, D., Prenkert, F., Hasche, N., & Carlborg, P. (2023). Business networks and sustainability: Past, present and future. Industrial Marketing Management, 111, A10-A17.
Harrison, H., Birks, M., Franklin, R., & Mills, J. (2017). Case study research: Foundations and methodological orientations. In Forum qualitative Sozialforschung/Forum: qualitative social research (Vol. 18, No. 1).
Hilmi, N., Safa, A., Planas-Bielsa, V., Kadmiri, Y., & Cinar, M. (2017). Ocean acidification in the Middle East and North African region. Reg. Dev, 46, 43-57.
Hunziker, S. (2021). Enterprise Risk Management: Modern Approaches to Balancing Risk and Reward. Springer Nature.
Jeje, K. (2015). Intensive growth strategies and outreach performance of Tanzania-based savings and credit cooperative societies. International Journal of Business and Management, 10(1), 124.
Jepkorir, S., Muturi, W. & Ndegwa, J. (2021). Related party transactions and financial distress of Savings and Credit Cooperative Organizations (SACCOs) in Kenya. International Journal of Research in Business and Social Science 10(1) (2021) 131-138.
Kahuthu, D. G. (2016). Impact of Prudential Regulation on Financial Performance of Deposit Taking Savings and Credit Co-Operative Societies in Kenya, Unpublished Doctoral Thesis, Jomo Kenyatta University of Agriculture and Technology, Nairobi:
Kavulya, P. W. (2018). Effect of Deposit Mobilization Strategies on the Performance of Deposit Taking Savings and Credit Cooperative Societies in Kenya. Unpublished Doctoral Thesis, Jomo Kenyatta University of Agriculture and Technology, Nairobi:
Kinyuira, D. K., Gathenya J. W., & Muturi W. M. (2018). Influence of Cooperative Management on Sustainable Performance of Deposit Taking Savings and Credit Cooperatives in Kenya. Journal of Humanities and Social Science, Volume 23, Issue 3, PP 45-58.
Kiruthu, L., Namada, J. M., & Kiriri, P. (2019). Organizational Capabilities and Strategy Execution: A Perspective From CEOs in Kenya’s Sacco Sector. Ajbuma Journal, 5(1).
Kiura, H. & Shivulimo, P. (2016). An investigation on the Entrepreneurial Factors that Influence the Performance of Coffee Marketing Cooperatives in Nyeri County. Journal for Business Management. Vol 18 Issue 8 Ver 111 pp 28-41.
Kinyuira, D. K. (2020). Influence of Enterprise Strategy on Performance of Deposit Taking Savings and Credit Cooperatives in Kenya. Unpublished Doctoral Thesis, Jomo Kenyatta University of Agriculture and Technology, Nairobi:
Kivunja, C. (2018). Distinguishing between theory, theoretical framework, and conceptual framework: A systematic review of lessons from the field. International Journal of Higher Education, 7(6), 44-53.
Kleinhans, R., Bailey, N., & Lindbergh, J. (2020). How community-based social enterprises struggle with representation and accountability. Social Enterprise Journal, 16(1), 60-81.
Komba, C. K., Mahonge, C. P., & Metto, W. K. (2020). Effects of members’ education types on their participation in savings and credit co-operative societies: Evidence from Uasin-Gishu County, Kenya.
Lari, L. R, (2018). Determinants of Technical Inefficiency of Savings and Credit Co-operatives in Kenya. Unpublished Doctoral Thesis, Moi University, Eldoret.
Lahiri, S. K. (2020). Profit Maximization Techniques for Operating Chemical Plants. John Wiley & Sons.
Lee, K., Choi, K., & Cho, D. (2021). A Study on the Numerical Approach for Industrial Life Cycle: Empirical Evidence from Korea. The Journal of Asian Finance, Economics and Business, 8(5), 667-678.
López-Sánchez, J. Á., & Santos-Vijande, M. L. (2022). Key capabilities for frugal innovation in developed economies: Insights into the current transition towards sustainability. Sustainability science, 17(1), 191-207.
Ma, F., & Xie, A. (2023). A typology of research paradigms and sources of knowledge in educational research. In The Frontier of Education Reform and Development in China: Articles from Educational Research (pp. 27- 46). Singapore: Springer Nature Singapore.
Markman, G. D., Russo, M., Lumpkin, G. T., Jennings, P. D., & Mair, J. (2016). Entrepreneurship as a platform for pursuing multiple goals: A special issue on sustainability, ethics, and entrepreneurship. Journal of Management Studies, 53(5), 673-694.
Mamun, N. Naresh, K., Mohamed, D., Hakimin, Y. (2017). Establishing a Valid Instrument to Measure Entrepreneurial Knowledge and Skill. Business Perspectives and Research 6(1) 13–26.
Mamun, A. A., Ibrahim, M. D., Yusoff, M. N. H. B., 2, & Fazal, S. A. (2018). Entrepreneurial leadership, performance, and sustainability of micro-enterprises in Malaysia. Sustainability, 10(1591), 1–23. doi:10.3390/ su10051591.
Mazzarol, T., Simmons, R. & Mamouni, L. E. (2011). A Conceptual Framework for Research into Co-operative Enterprise. Centre for Entrepreneurial Management and Innovation. CEMI Discussion. Paper Series, DP 1102.
Muithya, K., & Ombati, R., (2019). Internal Factors Affecting Growth of Savings and Credit Cooperative Societies in Machakos County, Kenya. European Journal of Business and Strategic Management ISSN 2518-265X (Online) Vol.4, Issue 5, pp 1- 15, 2019.
Mukuusi, E. W. (2019). Role of organizational resources on the sustainability of competitive advantage in the oil industry in Kenya (Doctoral dissertation, JKUAT-COHRED).
Mutiso, A., (2019). Financial Sustainability of Sacco’s in Kenya: Challenges and Opportunities. International Journal of Innovative Science and Research Technology ISSN No: -2456-2165Volume 4, Issue 10.
Ndungu, D. N. (2015). Influence of Sasra Regulatory Framework on the Financial Sustainability of Sacco's in Nyeri Couny.
Njoroge, S. & Kagiri, A. (2017). Influence of SACCOs in Entrepreneurial Capacity Development in Dagoretti South Constituency in Kenya. Journal for Entrepreneurship and Project Management, Vol 2 Issue no. 2 PP 77-96.
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