Strategic implications of devolved government Structure on Kenya commercial bank limited
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Strategy formulation is part of strategy management process. Strategic management is an ongoing process that involves developing and revising future oriented strategies that allow an organization to achieve its objectives considering the environment in which it operates in. The overall aim of this research study was to investigate the strategic implications of devolved government structure on Kenya Commercial Bank Limited. The specific objectives of this study were: First, to establish the implications of devolved Government structure to Kenya Commercial Bank. Secondly, to determine the strategies Kenya Commercial Bank has put in place to adapt to the devolved government structure. The findings of this study will be of significance to both the theoretical framework and the financial institution industry. The study employed a case study form of research design where KCB was studied. Interview guide was used as the data collection instruments for the study. The responses from the research participants were analyzed qualitatively. The findings revealed that Kenya's devolved government had created various opportunities and threats to the operations and performance of KCB. The findings identified the expansion of existing markets and the creation of new markets as the opportunities. The newly formed county governments were described as the new markets which the bank sought to exploit. Enhanced competition from other financial institutions and corruption were identified as the threats that accrued to the bank as a result of the devolved government. The study identified the following as the strategies that the bank had implemented as a result of the new dispensation: product differentiation, innovation, change in organizational structure, and relationship marketing. The study recommended that a survey be conducted in all the financial institutions to determine the strategies they are adopting in order to adapt to the opportunities and threats that are a result of the new constitutional dispensation.