Eunice D61-83846-2016. Final Project 13-12-2017-unlocked.pdf

The study shows that the external macro environment

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The study shows that the external macro environment influences differentiation and human resource strategies significantly and has low influence on the outsourcing and
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39 technical strategies. Robinson (2013) explains that strategy analysis involves observing keenly the environment within which the business is based and operates and adjusting to it to be successful. Table 4.11: Influence of external microenvironment on management strategies Strategy Chi-Square Statistics Degree of Freedom Probability Value Frequency Differentiation 0.430 2 0.807 11 Human Resource 1.051 1 0.305 9 Outsourcing 2.026 1 0.155 7 Technological 0.133 1 0.715 8 Source: Source: Researched data The Chi-Square test showed that the relationship between the external microenvironment and differentiation strategies are not statistically significant at 5% significance level, that is, the probability value of 0.807 was higher than 0.05. The Chi-Square test showed that the relationship between the external microenvironment and human resource strategies are statistically insignificant at 5% significance level as the probability value of 0.305 was greater than 0.05. The Chi-Square test showed that the relationship between the external microenvironment and outsourcing strategies are statistically insignificant at 5% significance level as the probability value of 0.155 was greater than 0.05.
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40 The Chi-Square test showed that the relationship between the external microenvironment and technological strategies are not statistically significant at 5% significance level as the probability value of 0.715 was higher than 0.05. The research, therefore, shows that the relationship between external microenvironment and human resource, outsourcing, differentiation and technological strategies were insignificant. Rosli (2012) on his study of the competitive strategy of Malaysian small and medium enterprises found out that businesses have placed a high emphasis on the management of a company and human resource management as the leading competitive strategies for a successful business. This study however shows that external micro environment does not have any significant influence on human resource strategies. 4.7 Discussions Based on the research findings and in line with the study's research objective, which aimed at establishing the types of business environment facing international audit firms in Kenya and determining how the business environment influence strategies adopted by international audit firms in Kenya. From this study, it is evidenced that political instability, inadequate technology, and noncompliance to legal requirements affect the growth and profitability of the firm to a very great extent while low economic activities affect the firm’s operations to a great extent. It is also evidenced that most international audit firms have not met the threshold of one third (1/3) gender rule regarding partnership engagements. The study also shows that the leading age bracket in international audit firms ranges between 26-35 years.
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41 The study further reveals that both existing and potential customers need to be given equal attention to a great extent to retain and attract them. The research shows that
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