| dc.description.abstract | With the accelerating dynamics of competition, the
key to competitiveness no longer lies
in employing strategies, which have been successful
in the past or in emulating strategies
of successful competitors. Real competitive advantage results from developing strategies
that will differentiate the organization from its competitors in the eyes of the customers.
The aim of this study was to establish challenges i
n implementation of strategic plan faced
by APA Insurance Co. Ltd. As well as determine how
the company has overcome these
challenges. The study was conducted through a case
study design, focusing on
implementation of strategic plan at APA Insurance Company Ltd, interpreting in-depth
details concerning the challenges of implementation
of a strategic plan and how these
challenges have been overcome by the insurance comp
any. The targeted respondents were
the management team in at APA headquarters in Westlands, Nairobi. The researcher used
primary data collected by use of interview guide with both closed and open-ended
questions. Data analysis was done using content analysis. From the study the researcher
concludes that, the major challenges encountered by
APA Insurance Co. Ltd while
implementing strategies included some aspects of organizational culture and structure,
high degree of staff turnover and resistance to change. Others included lack of
infrastructural facilities, government decisions, inadequate resources and conflict among
some employees. Therefore Insurance companies should ensure that employees affected
by the strategy are the core aspect in implementation of strategic plan focusing on the
outcome and also ensure that the necessary resource
s are available during implementation
of strategic plan. Moreover, insurance companies should assess the customer-employees
needs to ensure that it is in line with implementation of strategic plan and make sure that
implementation of strategic plan is a team effort.
This study has policy implications as
there has not been a standard benchmark for the insurance companies as it is for other
sectors in Kenya. Currently most insurance companies have implied their course in
implementation of their strategic plans and thus this study should act as a bench mark in
the industry for results and quality assurance across the sector. This will thereby promote
comparability of challenges among the insurance companies in Kenya and particularly
during implementation of their respective strategic
plans. This makes this study therefore a
critical part of the link between theory and practice within the confines of strategic
management in Kenyan insurance sector. The research
er encountered several limitations
including some interviewees being tight on their schedule to get time for interview might
not be able to have personal interviews with the respondents due to their work schedules.
The researcher however managed to secure their appointment upon promise that the
interview would be brief. Other interviewees were not willing to divulge information for
fear of reprisal. There is a need to carry out further studies on strategy monitoring. At the
same time, this study should be iterated after some
time afterto find out if there are any
changes that have taken place and comparison with the findings of this study done. One
may also wish to carry out a study on the challenge
s facing the insurance companies in
regards to regulating insurance industry. A study m
ay also be carried focusing on the other
aspects of the strategic management process apart from implementation of strategic plan | en_US |
