The Effect Of Strategic Management Practice On Organizational Performance Of Kolfe Real Estates: In Case Of Kolfe Keraniyo Sub City

Abstract

The aim of this thesis was to examine the Effect of Strategic management practice on Organizational performance of Real estate. More specifically, the main objective of this study is to examine the “Effect of Strategic management practice on Organizational performance of kolfe Real estate in Kolfe Keraniyo Sub city”. Real estate organizations are currently in need of strong strategy management practices as well as a defined company ongoing business change management practice. This investigation took place at kolfe sub city real estate firms. The researcher gathered important information about strategic management practice on real estate organizations in using a cross-sectional research methodology with mixed research approach (both quantitative & qualitative). The target population is 15 real estate firms of kolfe and 5 samples of real estate firms are selected in purposive sampling techniques. The current study enlisted the participation of 120 people by using censes survey for questionnaire and deep- interview. Even though the real estate has numerous opportunities in the industry which include assets improvement, control, sales and marketing, letting, enterprise, security, valuation, and contribution for GDP, the overall findings revealed that effective strategic management practice with continuous control of business change management for real estate businesses performance is very necessary, because kolfe real estate is currently experiencing a severe problem such as many builders have behind schedule, stalled undertaking, don’t sell their assets, permit or manipulate their properties properly to their contracts being terminated, didn’t support shortage of housing in the city. The study’s result found that strategic management practice dimensions such as (environmental scanning, strategic formulation, strategic implementation, and evaluation and control) had a significant and positive impact on kolfe real estate Company’s performance. Also the ongoing business change management practice has a great impact on performance of organization. Furthermore, the researcher recommended that the combination of cost leadership and suitable strategy be investigated further