Strategic Collaborations and Performance of Oil Marketing Firms in Kenya
DOI:
https://doi.org/10.47941/jbsm.2327Keywords:
Strategic Collaboration, Performance, Strategic alliances, Mergers, FranchisingAbstract
Purpose: Little attention has been paid to the effect of strategic collaboration on performance of oil marketing firms in Kenya. As a result, it is vital to investigate the effect of strategic collaboration on performance of oil marketing firms in Kenya. The study's particular aim was to investigate the impact of strategic alliances, mergers and acquisitions, franchising, and joint ventures on performance of oil marketing firms in Kenya. Four theoretical reviews are included in this research paper: Resource Based Theory, Transaction Cost Theory, Trust Theory and Dynamic Capability Theory.
Methodology: Using descriptive research approaches, this study evaluated the data and offered findings. Over a certain time period, data was collected from oil marketing firms in Kenya. The research relied on primary data gathered via structured questionnaires as well as secondary data. The study's target population was Kenya's oil marketing firms in Kenya. The study also used stratified random sampling. The study's data was collected using Google forms and sent through email. The questionnaire data was sorted, classified, and analyzed using Statistical Packages for Social Sciences (SPSS).
Findings: finding demonstrate that savvy partnerships among Kenyan oil marketers improve performance. Businesses appreciate shared storage, cooperative networks, and specialized service sharing for increasing operational efficiency and competitiveness. Statistical analysis reveals that these partnerships influence company performance, accounting for 81.5% of the variance, with a strong correlation coefficient (R = 0.903) and a substantial ANOVA F-value.
Unique contribution to theory, Policy and Publication: To obtain additional information and draw meaningful conclusions about the variables of interest, descriptive studies was conducted where survey was used to provide a snapshot of the population. Tables was used to display the data. This study will be useful to academics and researchers in finance and economics.
Downloads
References
Abdel-Maksoud, H. (2021). "Regulatory Dynamics and Collaborative Strategies: The Case of Oil Marketing in Egypt." Journal of Business Law and Regulation, 40(1), 112-134.
Achieng, E., & Owino, K. (2019). Mergers and performance of oil firms in East Africa. Journal of Strategic Management, 7(4), 310-325.
Achola, M. A. (2016). Franchising as a Market Entry Strategy by Kentucky Fried Chicken into Kenya (Doctoral dissertation, University of Nairobi).
Bear, J. B., & Woolley, A. W. (2020). The role of gender in team collaboration and performance. Journal of Management, 46(6), 1250-1275.
Belaid, F., Elouadi, A., & Ghannam, N. (2020). Trust and commitment in strategic alliances: A study of the oil and gas industry in Algeria. International Journal of Strategic Business Alliances, 4(1), 30-47.
Boughanem, Z., Ben Amor, T., & Belloumi, M. (2017). Energy consumption and economic growth nexus in Algeria: importance of renewable energy consumption. Renewable and Sustainable Energy Reviews, 71, 20-34.
Chen, L., & Li, Y. (2019). The Impact of Franchising on Performance in the Oil Sector: Evidence from China. Journal of Business Research, 105, 305-315.
Chen, W., et al. (2021). "Incentives for Innovation in Collaborative Ventures: A Study of Oil Marketing Firms in Asia." Journal of Innovation Management, 15(2), 145-162.
Coase, R. H. (1937). The Nature of the Firm. Economica, 4(16), 386–405.
Das, T. K., & Teng, B. S. (1998). "Between trust and control: Developing confidence in partner cooperation in alliances." Academy of Management Review, 23(3), 491-512.
Eagly, A. H., & Carli, L. L. (2019). Women and the labyrinth of leadership. Harvard Business Review, 87(9), 62-71.
El-Meligy, A., & Salem, N. (2017). "Knowledge Transfer and Innovation in Strategic Collaborations: Insights from the Oil and Gas Industry." Journal of Innovation Management, 22(3), 210-230.
Osei, P., & Amankwah, K. (2020). Franchising and business performance: Evidence from service firms in Ghana. West African Journal of Business Studies, 14(1), 78-92.
Otieno, J. (2021). Strategic mergers and their effect on the performance of oil marketing firms in Kenya. Kenya Business Review, 12(2), 78-94.
Otieno, P., & Wanjohi, J. (2020). Franchising and business performance in Kenya. Nairobi Journal of Business Studies, 10(2), 151-169
Williamson, O. E. (1985). The Economic Institutions of Capitalism. Free Press.
Winter, S. G. (2003). Understanding dynamic capabilities. Strategic Management Journal, 24(10), 991-995.
Wong, H., & Li, M. (2018). "Environmental Concerns and Collaborations in the Asian Oil Industry: A Path to Sustainability." Journal of Environmental Economics and Management, 22(1), 45-60.
World Bank. (2019). "Angola Economic Update: Navigating a Sea of Uncertainty." Retrieved from https://www.worldbank.org/en/country/angola/publication/angola-economic-update-navigating-a-sea-of-uncertainty
Yergin, D. (2019). "The New Map: Energy, Climate, and the Clash of Nations." Penguin Press.
Yousfi, O. (2019). Oil and economic development in Algeria: where we stand? Journal of Energy and Development, 43(1), 47-67.
Zhang, H., & Li, Y. (2023). Joint Ventures in the Chinese Automotive Sector. Asian Business Review, 52(1), 65-80.
Zhang, L., & Smith, R. (2022). Multinational Oil Companies and Strategic Collaborations: A Global Perspective. International Journal of Energy Sector Management, 16(1), 33-48.
Zhang, Y., & Li, X. (2021). Governance Challenges in Joint Ventures. International Journal of Strategic Management, 47(2), 91-107.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Humphrey Mdangaya, Mtange Dr Jared Deya (Phd)
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution (CC-BY) 4.0 License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
