Strategy Implementation at National Bank of Kenya Limited
Abstract
Strategy implementation remains critical yet the most difficult phase in the strategic
rnai agerrtettt process. Successful strategy implementation focuses Oil creating Iils
between the strategy and culture, leadership, structure, reward system, budgetary
allocations and the general capabilities of the organization. The study was based on
st alegv implementation at National bank of Kenya (NBK). The objectives were to
establish how strategy was implemented and to determine the factors influencing the
implementation process at this bank. To achieve that; a case study was carried out to
better understand the procedures at the bank. A total of ten respondents were interviewed
by way of an interview guide. The study established the major challenges at NBK as lack
of visionary leadership, no ownership of the strategic plan, poor communication and the
absence of a monitoring and evaluation unit. The CEO never gave any importance to
strategy formulation and its implementation. The exercise was carried out to satisfy the
regulators and other stakeholders. The employees were never involved at the strategy
formulation stage therefore making it difficult to own the whole exercise. This study will
not only benefit the management team in trying to identify challenges encountered during
strategy implementation, but will also inform formulation of future strategies. The
researcher recommends that the bank engage a visionary leader to drive the strategy
implementation process. The strategy should be communicated to all employees and an
effective monitoring and evaluation unit set up. With the above measures in place, the
bank will experience positive growth and claim its rightful position in the industry.
Limitations encountered during the study included the reluctance by the top management
to authorize the study fearing information obtained may be used by the competition.
Publisher
University of Nairobi
Description
MBA