The Role of External Stakeholders in the Strategy Implementation at Higher Education Loans Board
Abstract
Strategy formulation and development is the development of long term plans for the
effective management of opportunities and threats in light of the organization’s strengths
and weaknesses. On the other hand strategy implementation is the process that turns
implementation strategies and plans into actions to accomplish objectives. The study
aimed at establishing the role of external stakeholders in strategy implementation at the
Higher Education Loans Board.
Towards the realization of the same objective, a case study research design was adopted
whereby the researcher interviewed six managers in HELB and one manager each from
Kenya Revenue Authority and Kenya Commercial Bank. The respondents had different
academic qualifications and years of experiences in dealing with implementation of the
institutions strategies and also partnering with external stakeholders. The data was
collected through the use of the interview guide that was prepared to guide the researcher
on the research objective.
The findings of the study were that HELB depends a lot in the partnering with external
stakeholders in the realisation of its strategic objectives. The role that the external
stakeholders play in the strategic process of HELB were identified to include: assistance
in the process of loan recovery and ensuring effective and efficient compliance to the
HELB Act, facilitating institutional linkage between the stakeholders and the institution
in such areas as creating electronic linkage between the partners and also devising of
ways to mitigate against risk exposure to the organization. These activities were
identified as the core functions and therefore external stakeholders will have to be given a
priority during the development and implementation of the institution strategies.
Strategy formulation and implementation process is recommended for the functioning of
any organization. Therefore, an organization should put in place adequate mechanism of
incorporating the views of all the stakeholders in the development of the strategies and
that for a successful implementation of the same strategies, the organization should be
able to identify the challenges that will hinder the successful implementation of its
strategies. In addition, the management team should be able to build in a monitoring and
evaluation mechanism of telling when the strategy objectives are not being realized.
From this, the organization should be able to come up with appropriate measure to
overcome the challenges early enough before they affect the realization of its objectives.
Publisher
University of Nairobi
Rights
Attribution-NonCommercial-NoDerivs 3.0 United StatesUsage Rights
http://creativecommons.org/licenses/by-nc-nd/3.0/us/Collections
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