Challenges of strategy implementation at Ecobank Kenya limited

Abstract

The study investigated the challenges of strategy implementation in Ecobank Kenya Ltd. The research design employed was case study employing open ended questionnaires that captured in-depth responses. The data was collected from the top and middle management. The collected data was summarized according to the concepts and themes to allow for content analyses of the data through collation and thematic analysis. Despite the availability of well crafted strategies at Ecobank Ltd, the level of implementation is still lower and thus far off achieving the intended targets amidst the fluid business environment that has been extremely turbulent and competitive. Strategy implementation has been impeded by the ownership structure that has made decision making a complex bureaucratic process, challenges in government policy in terms of local share capitalization, problems of harmonizing multinational policies with domestic regulations and longer communication channels. The study established that successful implementation requires that the strategy, the organization, the people and their relationships, the systems and the measures all must be aligned and made to work towards a common goal. Effective leadership is required at all levels of the implementation process for decision-making, guidance, support and motivation of people involved in implementation. Ecobank Kenya needs to assess the factors which contribute towards effective leadership in implementation process. Employees’ commitment has been rated as a very important factor in effective strategy implementation by managers. The strategic factors reflecting employees’ commitment and their importance have been portrayed. However, each factor identified in this study needs further detailed examination for exploring various dimensions of its relationship with the implementation process. Strategy implementation assumes great significance and therefore should command an increased amount of attention of researchers in the banking field.