Factors influencing implementation of functional strategy at Barclays Bank of Kenya
Strategy is a method or plan chosen to bring about a desired future, such as achievement of a goal or solution to a problem. Strategy is where the business trying to get to in the long-term, considering markets, competition, resources, environment and stakeholders. Strategies exist at corporate, business or operational level. Successful business strategy depends to a large extent on decisions that are taken or activities that occur at the operational level. Functional managers play a key role in ensuring the organization achieves its objectives. This study was carried out to determine what factors influence implementation of functional strategy at Barclays bank of Kenya. Functional strategy implementation involves transforming strategic decisions into operational plans that each functional area of a business can effectively carry out. Managers in the operation center were interviewed with an aim of finding out how they implement strategies at their departments and what factors influence implementation of these strategies. The study employed use of interview guide with a view of collecting information from ten managers within the operation center. The analysis consists of response from six managers which was considered sufficient for data analysis. The study concluded that a number of finite factors are responsible but key amongst them is the way strategy is communicated to those who ultimately do the implementation. The study further concluded that for functional strategy to be fully implemented, clear and proper communication must be made to the entire business. This would make employees aware on what is happening and remove uncertainties if any. In addition, staff should be involved so that they are part of the process. This way resistance would be minimized if not completely removed. The study also concludes that Barclays Kenya has a good performance tool which enables it to achieve its objectives. The study recommend a wider study be done to encompass other commercial banks operating in Kenya, so as to find out whether the results generated in this study uniquely apply to Barclays or whether they are generalizable across the banking industry.