Challenges Facing Kenya Commercial Bank in the Implementation of Internationalization Strategy

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. For effective strategy implementation, the strategy must be supported by decisions regarding the appropriate organization structure, reward system, organizational culture, resources and leadership. The process must have the blessings of all interested parties and the top management should play a leading role in the exercise. The objectives of this study were to investigate the challenges facing Kenya Commercial Bank in the implementation of the internationalization strategy and to determine the measures that have been initiated by Kenya Commercial Bank to overcome the challenges. This was a case study since the unit of analysis was one organization. Primary data was used for the study through use of interview guides that were distributed among senior managers in Kenya Commercial Bank. Content analysis was employed in analyzing the data. The analysis was based on the objectives of the study. The qualitative analysis was used to analyze the respondents’ view about the challenges facing Kenya Commercial Bank in the implementation of the internationalization strategy. The Findings from the study suggest that the organization had encountered challenges in implementing internationalization strategy. These included; poor communication, the organizational structure, competing activities that cause distractions, ineffective coordination and inadequate information systems. The study further found out that the organization has at the same time come out with ways of countering the challenges facing it strategy implementation process. Some of the measures include change in its organizational structure. Monthly and Quarterly monitoring and evaluation of strategy implementation process and use of tracking tools like the dashboard that keep abreast all the staff and stakeholders concerned on how much had been achieved or deviated from the targets.