Strategic Planning And Organization Performance Of Standard Chartered Bank Kenya
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Date
2019Author
Kendi, Mwenda Polly
Type
ThesisLanguage
enMetadata
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The objectives of the study were to ascertain how Standard Chartered Bank Limited has embraced strategic planning, to determine the link between strategic planning and the performance and to determine the challenges faced during strategic planning. The study used secondary data and primary data. The respondents consisted of senior managers heading departments hence in charge of shaping the strategic direction of the Standard Chartered Bank. The qualitative data collected was analyzed using content analysis the content was categorized into common themes that included respondent profiles, strategic planning at Standard Chartered Bank Kenya and strategic planning and performance of Standard Chartered Bank. The study aimed at carrying 8 interviews but only managed 7 interviews representing 87.5% response rate. The study concluded that Standard Chartered Bank has employed various strategic planning practices that have helped the bank to continue to perform optimally in the chosen niches. These strategic plans were found to be risk management, technology and operations, human resource management, corporate affairs, brand marketing, retail banking and global banking strategic plans. Further, the study concluded that that risk management, technology and operations, human resource management, corporate affairs, brand marketing, retail banking and global banking strategic plans have helped Standard Chartered Bank as it was found to perform competitively in the sector. The bank was found to have the fifth best profitability ratios (ROA and ROE) and fourth best in market share. The study also concluded that Standard Chartered Bank faces various challenges during the formulation and implementation of strategic plan. The main challenges are uncontrollable factors in the external business environment such as the interest rate capping law, high cost of formulating and implementing plans and increase in cyber-banking fraud. The study advocated that management of other commercial banks employ strategic plans in order to be able to perform competitively in the Kenya’s banking sector. The study also suggested that the management of the Standard Chartered Bank should formulate contingency strategic plans for dealing with unexpected operational challenges. Information on strategic plans of the bank are proprietary and privileged hence could not be easily divulged. There is a need for another study to be carried out focusing on commercial banks operating in Kenya. This allowed the researchers to compare how different banks have adopted various strategic plans and this has affected their performance.
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http://creativecommons.org/licenses/by-nc-nd/3.0/us/Collections
- School of Business [1432]
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