Strategy implementation at national bank of Kenya
Abstract
With the changing business environment, globalization, competition, influence of
technology and consumer changing needs and wants, commercial banks have to
implement strategies formulated to remain competitive. The drive behind this study was
to investigate the impact of effective strategy implementation at National Bank of Kenya
by looking into strategy implementation practices, challenges and measures to be to
overcome the challenges. The objectives of this study were to; determine the practices of
strategy, challenges of strategy implementation and measures put in place to overcome
challenges of strategy implementation at National Bank of Kenya. The study adopted a
case study as the unit of analysis was one organization. The researcher used both primary
and secondary data. The interview guide used in the study. Data was analyzed qualitatively since
content analysis was used. The analyzed data was presented qualitatively using themes as
measurement variables. It was established that, both internal and external factors
influenced effective strategy implementation. It was established that organizational
structure, leadership styles, organizational resources, culture, employees motivation and
information communication technology influenced effective implementation of strategy.
It was concluded that for the success of commercial banks in the turbulent and
competitive business environment, proper training to employees, adequate financial
support, ICT integration in the system, and democratic style of management was key to
effective strategy implementation for both small and large organizations locally and
internationally. This is supported by Mckinsey‟s theory that argue that effective strategy
implementation is determined by internal factors of the organization. It was
recommended that for effective strategy implementation, National bank of Kenya should
formulate internal management policies that support strategy implementation. The
internal policies should support flexible organizational structure to enhance
communication, democratic style of management, effective resources management, and
employee motivation and information communication technology for effective strategy
implementation. Further studies should be carried out to investigate factors that
influence effective strategy implementation among Commercial banks operating in
Kenya thus bridging gaps that exist due to inadequate information.
Publisher
University of Nairobi
Description
Thesis