Strategy implementation at chase bank, Kenya
The main aim of the project was to investigate strategic planning in Chase Bank, Kenya. The findings of this study may be key to other financial institutions and other corporations at large in providing additional knowledge in strategic planning practices adopted to improve competitiveness. The research design that was used in this study was a case study, aimed at establishing strategic planning practices in Chase Bank, Kenya. The target respondents where heads of departments in Chase Bank mainly the human resources director, the chief finance officer, the corporate banking director, the country head of treasury, the acting consumer banking director and the chief operating officer. The research found that the bank faces the challenge of strategy implementation time being underestimated in and thus most of the implementers have a deadline that is merely an approximation due to the occurrence of unexpected developments and also delays by external business partners in providing the expected support in time. The study also found that strategy implementation encompasses of requesting, determining, attainability, planning, implementing and evaluation of changes to a system at Chase Bank. The study concluded that Chase Bank had a formal strategic plan and had well documented mission and vision statements. The study established that this had a positive impact in chase bank’s profitability. The study recommends that banks and other financial institutions employ strategic planning as a guide towards charting their path to profitability.