Management of strategic change in deposit taking savings and credit cooperatives in Kenya
Biomndo, Norah C
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Organizations are not autonomous in nature but are players in a pre-determined operating environment that is prone to influence from external forces. The interaction between the firms and its operating environment determines its success and or failure. Since the environment is external in nature and not within the control of anyone organizations are forced to adapt to it so as to attain competitive advantage. This explains why organizations are in constant quest for a strategic . fit and balance with its environment. The operating environment is characterized by constant changes that de-stabilize the strategic balance between it and the organizations operating in that environment creating a dis- equilibrium. This necessitates strategic responses by firms in the form of change so as to maintain the equilibrium. The objective of the study was to establish the practices and challenges of management of strategic change in deposit taking Savings and Credit Cooperatives in Kenya. The study used stratified sampling of the population of 215 deposit taking Savings and Credit Cooperatives across the country to identify the respondents used in the research. The data was collected using a structured questionnaire. It was then analyzed using Statistical Package for social scientists (SPSS) and the findings presented using tables. Findings of the study indicated that the main forces of change in the deposit taking Saccos were technological advances, changes in the legal framework and competition from other financial institutions. The key practices of management of strategic change in Saccos were identified as stakeholder involvement, communication planning and identification of key performance indicators.