STRATEGIC LEADERSHIP, INNOVATION, AND FINANCIAL PERFORMANCE IN FAITH-BASED ORGANIZATIONS
STRATEGIC LEADERSHIP, INNOVATION, AND FINANCIAL PERFORMANCE IN FAITH-BASED ORGANIZATIONS
Joseph Mbekenya
ABSTRACT
Faith-based organizations (FBOs) exist in a growingly competitive and limited-resources setting that requires strategic management. A review of available literature has shown that strategic management has a fundamental role in shaping a change-minded organizational culture that promotes efficiency and innovation-driven expansion in FBOs. Innovation, internal capabilities, and technology management further complement FBOs’ endeavors to enhance financial performance in FBOs. This study examines the relationship between innovation practices and financial performance for the Diocese of Mt. Kenya South of the Anglican Church of Kenya using a census design involving 417 synod delegates. The data were collected using structured questionnaires, which were analyzed using descriptive analysis in SPSS version 24.0. The results show that there is a certain level of agreement that new income-generating projects, new financial technology, new strategies in financial management, and increasing into members to improve financial performance have been implemented. Innovation also plays a part in generating additional income for the institution. These findings are in line with other research that prioritize innovation, technology, and sound financial management to move the sustainability of FBOs forward. The conclusion reached in this study is that innovation, technology, sound finance, and an increase in members are important drivers of enhanced financial performance.
