Strategic change management at Faulu Kenya

Abstract

This research was on strategic change management at Faulu Kenya with a focus on its transformation to a deposit taking microfinance institution. The objectives of the research were: (i) to determine the nature of the strategic change, (ii) to establish the processes undertaken to implement the strategic change and (iii) to establish the roles played by various stakeholders in the strategic change process. The research was designed as a case study and used the qualitative research method. Information was collected from both secondary and primary sources. The primary research was conducted through personal face-to-face interviews using an interview guide. In-depth interviews were held with members of the transition team that led the transformation process. The study found that Faulu successfully implemented the strategic change and as a result became the first institution to be licensed as a deposit taking microfinance institution in Kenya. Ingredients to successful change such as creating a sense of urgency, having a guiding team, and empowerment, highlighted by various writers on change played a significant role in the strategic change process at Faulu and contributed to the success. Faulu once again has made a great achievement and lends itself as a model institution for the microfinance industry not only locally, but also globally