A Survey of the challenges in the strategic plan implementation in the Co-operative Bank of Kenya Limited
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Date
2006-08Author
Olali, Pauline N
Type
ThesisLanguage
enMetadata
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The Co-operative Bank of Kenya launched its current Five Year Strategic Plan in the year
2005. The target was to complete the implementation by the year 2009. Companies that
undergo the implementation of their strategic plans face challenges both from within and
outside it. The Bank has not been exempted from this occurrence and that is why this
study was undertaken to find out the challenges that have been faced in the course of the
implementation of this strategic plan. The ultimate purpose of implementing the strategic
plan was to obtain profitability that ensures to have the best return for the shareholder
who is ever demanding higher returns on his investment.
The research sought to find out the Challenges faced as a major objective and the
Measures taken to counter these challenges were looked into. The respondents were
selected from the top management of the Bank like the CEO, the General Managers, and
other Heads of Departments. This is where the strategic plan is embedded first before
cascading it to the entire Bank in different functional levels. Questionnaires were used to
guide in conducting the Personal interviews undertaken. Content analysis was used to
derive the information collected from the questionnaires. Most of the responses revealed
that the strategic plan is in place and the challenges faced in the implementation were
well in control because the various HOD's seemed vigilant to creatively have measures to
counter them. It also emerged that the various divisional strategic plan expectations were
well known by the HOD's. Under each challenge the strategic plan's way forward is ..
stated then from the findings of the interviews done, the challenge faced is elaborately
discussed specifically as per the Co-operative Bank scenario. The measures taken to
counter this challenge are then discussed. From the findings the Strategic Plan seems to
be on track at the Co-operative Bank of Kenya.
Finally, the research study recommends the need for further studies in this area in various
other organizations and having a wider target group comprising the lower cadre who are
the actual people on the ground in achieving these targets that make up the total
organizational profitability in the long run also be interviewed. The Branches can also be
incorporated in a wider scale to get the broader view from them.
Citation
Masters of Business Administration, University of Nairobi (2006)Publisher
University of Nairobi School of Business