Strategy Implementation Challenges at Commercial Bank of Africa, Kenya
Abstract
Organizations are faced with challenges of strategy implementation. Despite the
experience of many organizations, it is a challenge to turn strategies and plans into
individual actions, necessary to produce a great business performance. The study aimed
at determining the challenges of strategy implementation at Commercial Bank of Africa,
Kenya. The study is important to policy makers; the findings of this study would be
important to strategic management bodies in various ministries in formulating policies
that govern strategy implementation. To the academicians the study contributes to the
body of knowledge which benefits scholars and researchers and simulate further research
in this field of strategy implementation. The study was guided by the following theories;
Institutional theory, Resource-Based View Theory and Stakeholders Theory. This
research was conducted through a case study in analyzing challenges of strategy
implementation at Commercial Bank of Africa, Kenya. A survey was deemed to be
appropriate for this study because it brought out the unique challenges that impact
strategy implementation. Primary data was collected using an interview guide which was
administered to retail managers, branch operations managers, customer experience
officers and private banking officers of Commercial Bank of Africa or their equivalent in
Nairobi branches. An interview guide was used as it enables oral administration of
questions in a face-to-face encounter therefore allowing collection of in depth data.
Descriptive statistics is a technique used in presenting and organizing data that include:
tabulation, diagrams, graphs and certain numerical procedures all which aim at
summarizing the material in a form which display its distinctive features that aid analysis.
The study found that strategy implementation process at Commercial Bank of Africa,
Kenya, is faced with numerous challenges including, poor organizational structure,
inadequate finances, time and human resources, bureaucracy in organizational structure
and culture. Strategy formulation process forms the direction and foundation for smooth
implementation of organizations strategic plan. Strong culture promoted the
implementation of strategic plan. Resource allocation is a central management activity
that allows for smooth strategy execution. The study recommends that banks should
involve and communicate to all stakeholders especially employees when formulating
clear strategic plan that provides vision and mission, identifies the organization’s external
opportunities and threats, determines internal strengths and weaknesses, and establishes
long-term objectives to follow.
Publisher
University of Nairobi
Rights
Attribution-NonCommercial-NoDerivs 3.0 United StatesUsage Rights
http://creativecommons.org/licenses/by-nc-nd/3.0/us/Collections
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