| dc.description.abstract | In the world of management, increasing numbers of senior managers are recognizing that one of
the key routes to improved business performance is implementation of effective strategic plan.
This applies even to the insurance industry whose environment dynamism in the current times is
posing many challenges to all insurance companies and therefore calling for effective strategic
plans to be formulated and implemented. The objective of this study was to establish the
challenges affecting the implementation of strategic plan at Blue Shield Insurance Ltd. The
research design employed in this study was a case study. Data was collected through the use of
primary data including both the interview guide and the questionnaire. Data collected was both
quantitative and qualitative in nature. Qualitative data was collected through an interview guide
and analyzed using content analysis while SPSS was used to analyze the quantitative data, which
was collected using the questionnaire and represented using tables. Overall, strategic
management assists an organization to improve on its performance and productivity. The main
challenges affecting implementation of strategic plan include inadequacy of resources which are
mainly financial in nature. In addition, lack of expertise is another challenge affecting
organizations. Training sessions on strategic managements are therefore imperative as they
update the trainee with skills and knowledge relevant that are relevant in decision making. The
researcher therefore recommends that the company carries out an evaluation on the application
of the strategic plans. In addition, the government as one of the major stakeholders on the
stability of country’s economic trends should take the responsibility of moderating the trends so
as to prevent very adverse effects due to these instabilities. | en |
