Factors influencing implementation of participative planning and management strategies in financial institutions: a case of National Bank of Kenya
The purpose of this study was to analyze the factors that influence implementation of participative planning and management practices in an organization. The site of the study was National Bank of Kenya Ltd. The objectives of the study were to find out how participative planning and management enhances employees morale, promotes coordination at the work place, provides a basis for decentralization of authority, and establish to what extent control facilitates participatory planning and management in organizations. The study used a descriptive survey design which helped to gather information about the present existing condition. The target population was 300 employees in the six divisions of National Bank of Kenya headquarters. A sample size of 85 respondents which composed employees and managers was selected using a stratified random sampling technique .. Questionnaires were used to collect the required data. A pilot study was carried out with eight members of staff of National Bank of Kenya at Embu Branch to establish the validity and reliability of the research instruments. The questionnaires were collected after which the data was analyzed and descriptive statistics such as mean and percentages were generated and presented in form of tables. The study findings revealed that 95% of the employees were involved in the management of NBK at operational level. The findings further revealed that 84% of employee suggestions are forwarded to the top management for action and mostly their line manager for actions. A majority of employees of 70% have ever experienced the bank face setbacks of closure of bank branches. The study findings revealed that there was training on participatory planning and management though the bank lacks a department in charge of reviewing and harmonizing conflicting interests in participative planning and management It also emerged that 69% of the managers engage and normally involve employees in planning on performance planning and community work under the social and corporate responsibility. A majority of 60% that and morale and productivity are moderately enhanced with their in participation in planning, 74% of the managers understudy were in agreement that there is a relationship between participative planning and coordination. That participative planning and management does not foster decentralization process at National bank of Kenya. On participative planning and controls in an organization it was highly regarded because it enhances ownership, promotes discipline, enhances cohesiveness and promotes team work among the staff members and management, promotes understanding, enhances bonding between the employer and employee and brings forth consensus leading to smooth running of the organization. There is impact attached to participative planning and effective control at National Bank of Kenya. This was noted to devolve decision making to staff level creating harmony with managers, motivates employees to' work with minimum supervision as well as promotes a balance between employee's private life and work environment. The respondents further noted that though participative planning takes time in decision making it provides democratic space where employees give their diverse contributions in opinions. Based on study findings it is recommended that there is need for delegation in which employees work on projects or tasks with considerable responsibility being delegated to them. To have suggestion schemes for new ideas where employees are given channels whereby they can suggest new ideas to managers within the organization. To have Consultative forum meetings whereby employees are encouraged to share ideas. Promote multi-channel decision making processes whereby decisions are not only made in a downward direction, they also result from communications upwards, sideways, and in many other directions within the organization. More studies to be carried on employee motivation and impact organizational growth and performance and secondly on the impact of on job training of employee and organization performance.