Strategic change management practices: The case of Africa Merchant Assurance Company
This research project was meant to investigate how Africa Merchant Assurance Company (AMACO) practices strategic change management. The study was set to meet one broad objective of establishing the strategic change management practices by AMACO. The study adopted the use of a case study research design where in - depth information was sought using a semi structured questionnaire. A sample of AMACO senior management and board of directors who were involved in strategic change process were selected using purposive sampling procedures so as to have a representation of the entire organization. The pick and drop method was used to administer the instrument. Though telephone was also used to complete one questionnaire. The study findings established that AMACO implemented a number of strategic changes, which targeted all departments of the organization but Marjorly; underwriting, marketing and finance. The areas of focus were Products, office set ups, behavior, values and culture. AMACO used teambuilding, seminars, trainings and performance rewards as techniques in strategic change implementation. AMACO faced various challenges in it’s change initiatives for example; resistance to change from both the members of staff and customers. The other challenges that the company faced were inadequacy of resources and high employee turnover. Fear of unknown future and unpreparedness were given as main reasons for resistance. The study has made a number of recommendations that would be useful. Constant training of employees through seminars and workshops would be adopted. Periodic strategic review meetings would also be used. The research has also recommended that the Insurance Regulatory Authority should be given more powers to control the industry.