dc.description.abstract | Strategic change and leadership is important for any organization because, without it, businesses
would likely lose their competitive edge and fail to meet the needs of the stakeholders. To
remain competitive, organizations need to undergo strategic changes and establish excellent
leadership with the aim of growing their businesses, attracting and retaining customers. Most
organizations face challenges in effecting strategic changes and lack clarity in leadership that is
guiding the process. The insurance industry in Kenya has faced environmental turbulence in the
recent years due to increase competition, mergers and acquisitions. This study investigates
strategic change and leadership at Madison Insurance Company, one of the leading insurers
which has faced challenges in the industry as result of the changes. The research design is a case
study of the organization and data was collected using an interview guide for primary data and
desk search technique for secondary data. The data was then analyzed using content analysis
technique. The study found that due to the stiff competition in the market, Madison Insurance
lost its market leadership hence losing clients leading to reduced market share. To correct this,
the organization rebranded in the year 2012 and in the process reviewed its long term strategic
plan. The study also found out that the organization reviewed its process seeing changes in IT,
customer service, human resource, products, branch network, distribution and the organization
culture. These changes were communicated in the market through a marketing campaign,
advertisement and promotions. However, for this pace to be maintained the organization needed
to invest more resources in advertisements and promotions to be continuously felt. The study
also recommends that the rebranding manual should be implemented fully with constant follow
up by departmental managers to ensure successful transition. The service charter should also be
adhered to and reward system set up to motivate employees to implement them every day. | en_US |