Strategy implementation at Citibank N.A Kenya
The focus of this study was strategy implementation at Citibank Kenya NA. Strategy implementation is not as well structured and formatted as strategy formulation. The process of strategy implementation has many challenges leading to most organizations failing to achieve objectives of the strategies. The main interest of the study is to find out how Citibank NA has implemented its strategies, the challenges it has faced in the implementation and how it has reacted to the various challenges. Data for the study was collected through interview of senior staff in the organization who have worked not less than 2 years. The researcher used interview through a developed guide to collect data with most of the questions being open ended so as to gather as much information as possible. The respondents were from all the departments of the bank to ensure balanced responses The findings of the study indicated that the bank is on track In implementing its strategies. This was made possible through availability of resources, effective communication, committed staff, good leadership, organization structure, supportive systems and procedures and efficient evaluation and monitoring. However, the shortcomings came from lack of sufficient training, high staff turnover, low staff reward and organization structure. The finding of the study should be understood in light of the limitations of the study which include lack of sufficient time to do a comprehensive study, limitation on the amount of information the respondents were willing to give without compromising confidentiality among others. This study is helpful to Citibank as they engage in their continuous review of their strategies and to other financial institutions to borrow best practices. Further studies should be done in related institutions to establish if the factors highlighted here are unique to Citibank or they cut across the industry.