| dc.description.abstract | The main aim of the study is to investigate on strategic planning and performance of
banks in Kenya in reference to National Bank of Kenya. Strategic planning assesses
both the internal and external environments to formulate strategy, implement the
strategy, and evaluate the success of strategy. Strategic planning incorporates
planning, employee motivation, new product development, and visionary views.
Banking institutions to perform better there is need to put in place strategic plans that
are effective for the organization to achieve its goals and objectives. National Bank is
a listed but government controlled bank in which government holds a 22.5% stake,
National Social Security Fund (NSSF) 48.06% and the general public just under 30%
through the Nairobi Securities Exchange. Strategic planning is commonly practiced in
order to enhance the Organizations performance. This study reviews theoretical
foundation of the study, strategic planning process, strategic planning practices,
organizational performance and factors affecting the performance. The main focus of
this study will be qualitative. Primary data and secondary data was used and edited for
completeness and consistency. The study found out that Effective Strategic planning
practices involve formulation of vision and mission statement, performance of
situation analysis and finally strategy formulation and choice. Strategic decision
determines the organizational relations to its external environment, encompass the
entire organization, depends on input from all of the functional areas in the
organization and have a direct influence on the administrative and operational
activities and are vitally important to the long term health of an organization.
Effective Strategic planning practices involve formulation of vision and mission
statement, performance of situation analysis and finally strategy formulation and
choice. The study suggests further research on the strategic planning and performance
of banks in Kenya. The study will supplement the findings of this study by providing
information on the strength and weaknesses of the strategic planning and
performance. The main limitation of the study is that the research was conducted on
only one organization. The study focused on at National Bank of Kenya. This
research recommends further research should be replicated in other banks in Kenya in
order to establish whether there is consistency among them on strategic planning and
performance. | en_US |
