Strategic Planning, Competitive Advantage and Performance at Equity Bank
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Date
2018Author
Onyimbo, Boutros G
Type
ThesisLanguage
enMetadata
Show full item recordAbstract
This study sought to establish how strategic planning has an influence on competitive
advantage and firm performance. Strategic planning encompasses all the organizational
processes of defining its strategy, choosing direction and decision making on resource
allocation in order to pursue the envisaged future ideal state. With the realization of the
role played by strategic plans towards the achievement of an organization’s Vision and
Mission, the need for focus and alignment, the process of strategic planning remains critical
in ensuring efficiency and improved performance. The objective of the study was to
establish the influence of strategic planning practices, competitive advantage on
performance of Equity bank. Using a questionnaire for the purposes of data collection,
Primary data was obtained by presenting the questionnaires to the employees whose roles
were closely related to the objective of the study. Data analysis was done using descriptive
analysis aimed at a systematic quantitative in-depth description of the composition of the
objects of the study. The study concluded that the strategic planning practices adopted by
Equity Bank Kenya included objective setting, formulation of a strategic plan, participatory
decision making, reward and recognition, training and development and employee
participation. The adoption of these practices was observed to have a positive influence on
the performance of Equity Bank Kenya. The study recommends Equity Bank Kenya should
continue practicing formal strategic planning for enhanced effectiveness and efficiency as
well as improved organizational performance. The organization should also continue to
strengthen its strategic plans with the one, three and five-year term plans. Finally, the study
recommends an enhancement of employee participation in the strategic planning and
implementation process, more investment should be channeled into training and
development with a long term view in building capabilities. Emphasis should also be laid
in prudence while aligning global objectives to the local market.
Publisher
University of Nairobi
Subject
Performance At Equity BankRights
Attribution-NonCommercial-NoDerivs 3.0 United StatesUsage Rights
http://creativecommons.org/licenses/by-nc-nd/3.0/us/Collections
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