| dc.description.abstract | This study set out to explore the challenges of implementing Agency Banking as an
expansion strategy at Kenya Commercial Bank Group Ltd. Kenya Commercial Bank is
one among 42 other commercial banks in Kenya that form a subset in the set of Financial
Institutions. The emphasis of this study was laid on how the structure, leadership,
processes and culture affected the implementation of Agency Banking as an expansion
strategy in KCB. It also shows how the preceding factors favored or challenged the
implementation. The project used the approach of a case study to have an in-depth
analysis of how the various factors attributed to strategy, challenged its implementation.
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 Agency Banking. Key
findings of the study revealed that KCB underwent a number of challenges while
implementing Agency Banking as an expansion strategy. The study details the use of
communication, leadership, training and recognition as factors that helped mitigate the
influence of challenges to implementation. These are detailed to show specifically how as
key factors, KCB used them to prepare and train the staff and other key stakeholders that
were deemed important for the implementation. The importance and dependence of other
organizations that would give support to Kenya Commercial Bank Group Ltd are noted in
the study and how they too influenced Agency Banking Implementation. The study also
presents the competitive environment and how other competing financial institutions
played a part in shaping key decisions that would help in implementation. Key
competitors are depicted in this study not only as other commercial banks and financial
Institutions but also Mobile Phone providers who took a lead in the introduction of
mobile money. The study also found out that changes to structure and culture were
inevitable for the smooth implementation of Agency Banking. The study concluded that
Agency banking faced a number of challenges during its implementation stage at KCB
and it recommends that a similar study be carried out to cover other financial institutions
that have embraced Agency Banking as a growth strategy. This will help develop policies
that will govern and streamline Agency Banking as the same is developing within the
economy. | en_US |
