| dc.description.abstract | Strategy formulation is the development of long term plans for the effective management
of opportunities and threats in light of the organization’s strengths and weaknesses. On
the other hand strategy implementation is the process that turns implementation strategies
and plans into actions to accomplish objectives. For effective strategy implementation,
the strategy must be supported by decisions regarding the appropriate organization
structure, reward system, organizational culture, resources and leadership. The process
must have the blessings of all interested parties and the top management should play a
leading role in the exercise.The general objectives of this study were to investigate the strategy implementation challenges at Equity bank Ltd and to establish how the bank has been able to overcome the challenges of strategy implementation. This was a case study design where primary data was collected using interview guide. The data obtained from the interview guide was analyzed using qualitative analysis.
The findings from the study suggest that the organization had developed strategies which
were geared towards accomplishment of the organizations objectives. Involvement of
employees in strategy formulation was the main reason for the slow implementation of
strategies. The other major challenges faced by the organization in implementing its
strategies were cited as; non commitment of senior staff and employees in general to
support a new strategic plan given the start to its completion including review and
supporting its recommendation, change of strategy mid-stream to suit their focus,
inadequate analysis of progress being made as planned, financial constraints, lack of
duplication of activities and reporting over the same activities which calls for effective
design of the programmes. | en |
