Challenges of strategy implementation at the Machakos branch of Equity bank, Kenya
Strategic management deals with strategy formulation, implementation and control. The implementation of strategies presents many challenges which may lead to changes in both a great or minor way. These implementation challenges faced by the firms are from within and without. This research sought to find as the major objective the challenges faced by Equity Bank, Machakos branch and the measures taken to overcome them. The interviewees were taken from the top management of this branch. A guided interview was used to guide the interviews conducted in person. Content analysis was used to derive information collected. The responses showed that most challenges faced by the bank were under control as the management took the necessary measures to combat them. The responses also revealed that strategic plans were documented and expectations well known by the interviewees. The challenges faced are stated in this research and the measures taken discussed. From this research, the bank’s strategies are in place and well executed. In conclusion, the study comes up with several challenges faced by the bank and these include economic challenges, high employee turnover, rapid bank growth, inadequate staff and some consumers not willing to embrace new technologies. A recommendation is to have further studies done in this area of strategy implementation in other bank branches and to have a different target group other than the top management.