Strategic Change Management and Performance at National Bank of Kenya Limited
Abstract
Successful organizations recognize the importance of strategy as a tool in
management and realize that their survival is dependent on a how well they adopt new
strategies or enhance existing strategies in an attempt to respond to changes brought
about by the environment. While the quality of strategy is important, we cannot omit
the importance of effectively executing the strategy. The current study, sought to
contribute to the greater understanding of strategic change management and
performance in organizations. In an attempt to achieve the objective of the study, a
case study research design was conducted at National Bank of Kenya. Data was
collected through face to face interviews of 18 participants. The data collected from
the interviews was analyzed qualitatively using content analysis. The research
revealed that market analysis is vital during strategy planning as it will highlight
challenges being experienced by organizations and in doing so facilitate the
development of strategies that are unique and tailor made to offer solutions to
challenges experienced and enable the firm to develop a competitive advantage over
its rivals, this will translate to improved performance. The research revealed that in
order to successfully implement strategies both short and long term strategic plans
need to be in place. Adequate and early planning and an inclusive process will prevent
resistance by employees in the organization. In order to improve the level of
employees confidence in strategic change management their level of competency and
empowerment would need to be observed. The research further revealed that critical
skills required for implementing the change process were dependent on the
complexity and nature of the strategy, leadership skills, relationship skills and
financial skills were inevitable in all cases of change management. It was clear from
the research conducted that there needed to be stakeholder involvement from the
planning stage to the implementation stage. This will ensure that a sense of ownership
from all stakeholders is maintained during the entire change management process and
in doing so increase the chances of success. This will also ensure that implemented
strategies are objectively analyzed before implementation by all parties in order to
ensure that strategies identified are fit for purpose. The research further noted that
continuous communication on the progress of planning and implementation of agreed
strategies vital in ensuring success in strategic change management as all stakeholders
will be on the know how on the progress of implementation and what is required of
them to ensure successful implementation of planned strategies. The research
concluded and recommended that during change management there needs to be
stakeholder involvement at all stages to promote ownership and adopted strategies
need to be unique to an organization requirement, this will ensure that the
organization attains a competitive edge over competitors which will have a positive
impact on the firm‟s performance. There were several challenges that I encountered
while undertaking the study such as the challenge of scheduling interview sessions
with the managers as they were stationed in different offices in dispersed locations.
There were also managers who had been in the organization during major strategy
planning and implementation phases who had since left the organization and their
experience could not be incorporated in the study while some change agents flatly
refused to be interviewed as they viewed the information they were being asked to
provide was intellectual property of the organization however the employees
interviewed provided a good sample size enabling generalization of the findings