Internal stakeholder involvement in strategic decision making at Kenya Commercial Bank Ltd
Strategic decision making has been viewed as an important aspect among all internal stakeholders in an organization. Managers are required to make strategic decisions that have an impact on their organization's performance. In order for any organisation to make more strides in successful implementation of its strategies in the face of intense competition in the business environment, it should initiate a deliberate step of incorporating the views of stakeholders in its strategic planning process. Such a move will help in the effective implementation of its strategies because the internal stakeholders who will in most cases facilitate implementation will resist less the strategies. On the basis of this concern, this research sort to investigate the level of internal stakeholders' involvement in strategic decision making at KCB. In trying to achieve the objectives of the research, the study adopted a case study approach where an in depth personal interviews with the top and middle level managers in the organisation was conducted. According to the findings, KCB has endeavoured to incorporate the views of all its internal stakeholders which have led to successful implementation of most of its strategic plans. This involvement of the internal stakeholders has also enabled the bank to increase its market share by developing products and services that meet the needs of various cadres of customers. The study also made a number of recommendations which KCB should adopt to remam competitive in the market and increase its success in strategy development and implementation. This recommendation included the bank embracing decision support systems (DSS), that is, an information system that uses decision rules, decision models, a comprehensive database, and the decision maker's own insights in an interactive computer-based process to assist in making specific decisions to hasten their decision making process. This would assists the decision makers to derive an in-time, efficient solution. In addition, it was recommended that the entire Stakeholder involvement process must undergo continuous evaluation, and the results of the evaluation must constantly inform the process, revising it as needed (formative evaluation).