Strategic planning practices adopted by Laborex Kenya limited

Strategic planning is an organization’s process of defining its strategy, direction and \nmaking decisions on allocating its resources in a bid to purpose this strategy including its \ncapital and people. The grand promise of strategic planning has been to increase the \nefficiency and effectiveness of an organization by improving both current and future \noperations. This study aimed at examining the strategic management practices adopted by \nLaborex Kenya limited. The study reviewed related literatures based on the objective \nwhich was a case study of Laborex Kenya limited. The study involved a case study of \nLaborex Kenya limited. The researcher used primary source of data which was collected \nthrough interview guide. This gave the respondent ample time to respond to questions \nasked. Key interviewees of the study included the chief executive officer, human resource \nmanager, operations manager, key accounts manager and the marketing manager. The \ncollected data was examined for completeness and clarity and thereafter was analyzed \nusing content analysis. The findings show that there exist some strategic planning \npractices that Laborex Kenya limited adopts. The study established that Laborex Kenya \nlimited has existing objectives, mission and vision statements which the company strives \nto achieve and that the company formulates strategies more often when need arises. It \nwas also established in the study that proper selection of qualified staff and good training \nhas been of great importance in propelling Laborex Kenya limited towards better \nperformance. The study also pointed out that proper marketing strategies and tactics are \nof great importance to Laborex Kenya limited. This study also noted that account \nmanagement skills are important to the company. The study recommends application of \nvarious strategic planning practices in all pharmaceutical firms in Kenya in order to \nimprove their efficiency and effectiveness