Strategic Planning at Family Bank Limited, Kenya
Organizations have continually come up with decisions that are future oriented which leads to realization of their mission and vision. This is as a result of the overwhelming competition in the market; hence financial institutions strive to come up with a winning strategic plan to maintain its customers and increasing its market segmentation. This study sought to determine the strategic planning process and the factors influencing strategic planning at Family Bank Limited. The researcher used both primary and secondary data. Primary data was collected using self- administered interview guides while secondary data was collected by use of desk search techniques from published reports and other documents. The data collected using interview guides which was qualitative in nature, was analyzed thematically using conceptual content analysis. From the findings, the study concluded that most banks had adopted strategic planning from review their mission and vision and reviewing external and internal environment. The organizational structure in Family Bank Limited may not reflect with the strategy being implemented due to lack of clearly defined structures in which the bank is organized. The size of the bank in terms of financial and human resource capacity has affected the stretch on the strategic plan to be made for example in terms of profit and company growth, which are purely driven by resources, room for expansion and areas with redundancies clearly identified through the process.
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