Challenges of the implementation of growth Strategies in Fina bank Kenya limited

Abstract

ABSTRACT Business growth is broadly defined since it involves various dimensions. For any organization to survive in a competitive environment it must experience growth is market share, customers, revenue and influence. Since growth determines whether a business survives or not, it is important for an organization to devise and implement strategies that will foster growth. The purpose of the study was to examine the growth strategies implemented by Fina Bank Kenya Limited and establish the challenges that the organization is encountering in implementing these challenges. The study was conducted through a case study on Fina Bank Kenya Limited. The primary data used in the study was collected through interviews that the researcher conducted with the Bank’s departmental heads or representative. The results showed that the bank had adopted product and market development, outsourcing, acquisition, partnership and relationship management as the key growth strategies. It further showed that resource constraints, employees’ attitude, organizational culture, regulatory framework and shareholder’s influence were the main challenges the bank was encountering in implementation of the strategies. It was further observed that the success of the implementation process was dependent on how well the organization synchronizes all its operation with the laid down strategies.