Response Strategies To Changes in External Environment By Taifa SACCO
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The operations of any organization are affected by influences emanating from both internal and external environment. Most of those from the internal environment are effectively addressed by the management. However, the external environment in which organizations operate is characterized by constant changes resulting from remote factors that are beyond the organizations capability to respond. Continuous changes in the external environment require that management continuously formulate and implement strategies that will effectively address challenges brought about by these changes. A host of ext...
The operations of any organization are affected by influences emanating from both internal and external environment. Most of those from the internal environment are effectively addressed by the management. However, the external environment in which organizations operate is characterized by constant changes resulting from remote factors that are beyond the organizations capability to respond. Continuous changes in the external environment require that management continuously formulate and implement strategies that will effectively address challenges brought about by these changes. A host of external factors influence a firm's choice of direction and action and ultimately its organizational structure and processes. Coping with the increasingly competitive and dynamic environment has called on firms to continuously rethink their strategies. The study adopted case study as the research design and opted for Taifa Sacco Society Limited as the Sacco had gained sustainable competitive advantage both in the cooperatives and financial services sector. Its outstanding performance had made it receive prestigious awards of recognition both at the national and international events.
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