| dc.description.abstract | This study set out to explore the approaches used in the management of strategic change at Kenya Commercial Bank Group Ltd. Kenya Commercial Bank is one among the major players of commercial banks in Kenya that form a subset in the set of Financial Institutions. The emphasis of this study was laid on what approaches was used in the transformation process and its effects in the overall structure of the bank. It also shows what factors lead to the process of change if they were planned or emergent and also resistance to change and its challenges. The business environment is so dynamic that is forces organizations to be on the lookout for sudden changes which can have adverse effects on their operations and business. These changes can be political, economical, social and technological. The paper used the approach of a case study to have an in-depth analysis of how the various factors attributed to strategic change. Primary data was collected through the use of an interview guide and data collected analyzed through content analysis. Secondary data was collected through the use of circulars; staff magazines emails and staff notes on training for the process. Key findings of the study revealed that KCB underwent a number of challenges in the transformation process. The study details the use of communication, leadership, training as ways in which the organization used to prepare for the whole process of the change and the factors that helped mitigate the influence were as cost cutting, creation of effective and efficient systems and processes and reduction of duplication of work. These are detailed to show specifically as key factors, KCB used them to prepare and train the staff and other key stakeholders that were deemed important for the change. The study also presents the competitive environment and how other competing financial institutions played a part in shaping key decisions that would help in the transformation process. The study’s major limitation was the unavailability of the senior management of KCB Group Ltd and to reveal more information citing the strict rules that govern such information with the banks. This explains why KCB Group has undergone structural changes within a very short period of time that in five years. The challenges of change management are evident in the reorganization and resistance to change, changing of the organization structure, balance between planned and emergent change and restructuring especially downsizing. The study concluded that management of strategic change had a number of challenges during its implementation stage such as resistance to change by employees and the cost implication of the process and it recommends that a similar study be carried out to cover other financial institutions that have embraced change as a strategy. The study recommended that there is need for the management to take a more proactive approach to managing change within the organization. Employee involvement throughout the process will ensure that those who have major responsibilities to carry out the plan understand the plan and the reason behind the change and thus create a great sense of organization unity. | en_US |
