Strategy implementation challenges at the heritage insurance company limited
With the accelerating dynamics of competition, the key to competitiveness no longer lies in employing strategies, which have been successful in the past or in emulating strategies of successful competitors. Real competitive advantage results from developing strategies that will differentiate the organization from its competitors in the eyes of the customers. The aim of this study was to establish implementation challenges faced by Heritage Insurance Co. Ltd. As well as determine how the company has overcome these challenges. The study was conducted through a case study design, focusing on strategy implementation at Heritage Insurance Company Ltd, interpreting in-depth details concerning the challenges to strategy implementation and how these challenges have been overcome by the insurance company. The targeted respondents were the director underwriting and claims, manager marketing, deputy managers from legal, underwriting and claims as well as executive officers. The researcher used primary data collected by use of interview guide with both closed and open-ended questions. Data analysis was done using content analysis. From the study the researcher concludes that, the major challenges encountered by Heritage Insurance Co. Ltd while implementing strategies included some aspects of organizational culture and structure, high degree of staff turnover and resistance to change. Others included lack of infrastructural facilities, government decisions, inadequate resources and conflict among some employees. Therefore Insurance companies should ensure that employees affected by the strategy are the core aspect in strategy implementation focusing on the outcome and also ensure that the necessary resources are available during strategy implementation. Moreover, insurance companies should assess the customer-employees needs to ensure that it is in line with strategy implementation and make sure that strategy implementation is a team effort.
The following license files are associated with this item: