Abstract:
The main aim of the study was to establish the effect of strategic management practices on organizational performance of Fintech companies in Africa: A case study of Cellulant Corporation. The specific objectives of the study were to establish the effect of strategy formulation, implementation, and evaluation of the organizational performance of Cellulant Corporation. The study employed a descriptive correlational research design where it targeted the strategic management team at Cellulant Corporation (country managers, finance managers, product development team managers and implementation engineers). A probability (simple random) and non-probability (cluster) sampling techniques were used to select study participants. The sample size for the study was 39 from a total population of 43. The questionnaire was the central data collection tool where the researcher used Google Forms as a way to administer it for data collection. Its data was analyzed both descriptively (mean, frequencies, percentages, and standard deviation) and inferentially. Analyzed data were presented descriptively in the form of tables, graphs and pie charts. Findings on the first objective revealed that the effect of strategy formulation was found to be at an R Squared coefficient of 0.178. For the second objective, the impact of strategy implementation on organizational performance was estimated to be at an R Squared coefficient of 0.232. Analysis of the final goal estimated the R Squared coefficient relating to the effect of strategy evaluation on organizational performance to be 0.267. These findings were majorly consistent with most previous studies. It was concluded that strategy formulation practices at Cellulant Corporation were not up to expectations and there is much to be done in this regard to facilitate the enhancement of organizational performance. It was also concluded that strategy implementation practices were partly the reason that causes dismal performance as reflected by annual and other periodic KPIs. The study equally found that strategy evaluation had a significant effect on organizational performance but needed to be substantially improved for it to make an impact at Cellulant Corporation. Recommendations suggested the inclusion of more operational members in strategy formulation, the adoption of a more objective formula in resource allocation, and preempting terminal underperformance through rigorous formative evaluations.
