Strategic Management Practices and Organizational Culture at the Family Bank Limited Kenya

Abstract

In the recent years Family bank limited (FBL) has to becoming the one of the fastest growing bank through its performance in the banking industry in Kenya surpassing other banks in the industry that had consistent performance over those years. It was expected therefore that FBL employed certain strategic management and cultural practices to enable them sustain their business operations. As one of the fastest growing bank in the banking industry in Kenya in terms of assets base, the study sought to determine the strategic management practices and organizational culture at family bank limited Kenya. To achieve this objective, the study intended to use interview guides. The target interviewees were senior management at FBL who were directly involved in culture and management strategy. In relation to the strategic management and cultural practices adopted by FBL, the study revealed that the senior management, which includes the Head of Retail, Head of Finance, Head of strategy and new business and four branch managers in FBL has varied strategic management and cultural practices adopted in their organization and they dedicate a lot of time, man power, technology and resources during the entire strategic and cultural management process. The study also revealed that the senior management implements the strategic management practices while following the six steps of the strategic management process which are formulation of the company‟s mission and vision, situation analysis, determination of the strategic objectives, strategic analysis and choice, implementation of the strategy and finally cultural strategic evaluation and control. In relation to the strategic management challenges faced by FBL, the study revealed that they included challenges in organizational structure and challenges when monitoring the implementation of strategic management practices, implementation of the strategic management practices, financial constraints, negative effects on operational responsibilities and other resource based constraints other than financial constraints. The implication on the policy, Motivational challenges especially when projects are not successful were also faced by the bank. Culture is seen as flexible to be in favor of majority for growth and enhance the service delivery of the bank as many take it as position to learn better skills though many have been seen not to adjust to the changes since most of them have had bad experience in many instance at the FBL Motivational challenges especially when projects are not successful were also faced by the bank.