Strategic planning practices at Barclays bank of Kenya
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Date
2015-10Author
Ofunja, Nelson O
Type
ThesisLanguage
enMetadata
Show full item recordAbstract
The importance of effective strategic planning cannot be over emphasized. The process
provides a sense of direction on desired future and what must be done to get there.
Successful organizations recognize the importance of strategy as a tool in management
and realize that their survival is dependent on how well they adopt good strategies that
give them a competitive edge and help respond to changes in their environment. The
study agrees with many scholars who suggested that there is no one way on how
institutions should go about strategic planning. The purpose of the study was to establish
and document strategic planning processes at Barclays Bank of Kenya Limited. This
research was conducted through a case study. Primary data was collected by use of
interviews. Secondary data was obtained through literature reviews on the subject of
study. The study revealed that strategic planning process was a collaborative effort
through an integrated strategic planning which involves all levels of management; top
management, middle and lower level management with guidance from the board of
directors and the group. Strategic plans set clear goals with aim of achieving the highest
levels of performance by providing organization members with objectives that are
specific and time bound. The study also established that continuous scanning of the
environment is critical in strategic planning to assist the organization understand the
changes in the business environment. The result of the study are limited to the scope of
the study as this was a case study on the bank and therefore further research is
recommended on other banks so as to get comprehensive information on practices of
strategic planning in the banking industry.
Publisher
University of Nairobi