Stakeholder Involvement in Strategic Change Management Process Within the Insurance Industry in Nairobi, Kenya

Abstract

Strategic change and its management form key in the long term survival of insurance industry in Nairobi, Kenya. Given the turbulent environment in which organizations are operating today, they have no option but to identify and adopt the necessary changes to survive. Management of strategic change is a method, or process of facilitating change and development in culture, structure, process, people and technology in use, leadership styles and even the physical aspects of the work environment. The main objective for this study was to investigate the stakeholders’ involvement in strategic change management process. The study relied on primary data was collected through administering a structured questionnaire comprising closed and open-ended questions, developed in line with the objectives of the study. The studies seek responses from heads the 45 insurance companies in Nairobi, Kenya owing to their experience and participation in training. . On receiving the questionnaires, the data collected was checked and edited to ensure completeness, consistency, accuracy and uniformity. Data analysis was conducted using descriptive statistics, which usually includes measures of central tendency, measures of variability, measures of reliability and frequency among others. From the study, it is clear that, strategic change and its management is important in the long term survival in the insurance industry and stakeholders are important in the process. This study sought to identify stakeholders involvement in management of strategic change at the Insurance industry in Nairobi.. The study will aid management developing, strategic change management practices adopted by the Insurance industry in Nairobi in their change program and to determine the factors affecting change management process at Insurance industry in Nairobi. The study concludes that Senior management and middle level manager’s implemented strategic changes in the organization as strategic changes were crafted at the top level of the management. Organization carried out changes either gradually or at once or in a continuous manner depending on the type of change. Furthermore environmental scanning for threats and opportunities, time of change, Power and politics management, greatly enhanced the importance of change in the organization.