Strategic Collaborations and Performance of Oil Marketing Firms in Kenya

Abstract

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.