Strategy implementation at Pan African life insurance company Kenya limited

Abstract

ABSTRACT Strategy implementation evolves either from a process of winning group commitment through a coalitional form of decision-making, or as a result of complete coalitional involvement of implementation through a strong corporate culture. Strikingly, organizations fail to implement about 70 per cent of their new strategies. The objective of the study was to determine factors affecting strategy implementation in at Pan African Life Insurance Company Limited, Kenya and the challenges affecting strategy implementation at Pan African Life Insurance Company Limited. This was a case study since the unit of analysis is one organisation. The researcher used both primary and secondary data. Primary data was collected using an interview guide. The staff in the company included human resource manager, underwriting manager, re-insurance manager, finance manager and product development manager. Content analysis was employed to analyse the data. The study found that successful strategy implementation helped a company gain a competitive edge, define the business of the organization, achieve right direction and having its various strategies entrenched and broadly accepted by all the employees guaranteeing successful implementation in the future. Those involved in strategy implementation process in the organisation are senior managers, middle level managers and top management and all employees. The study concludes that successful strategy implementation helped a company gain a competitive edge, define the business of the organization and achieve the right direction. The study concludes that the organization followed five steps in strategy implementation. SWOT, analyze the gap between internal (S&W's) and eternal (O&T's) environment. Initiatives taken by management in creating and sustaining a climate within the firm that motivates employees in their implementation role were the organization and their managers paying as much attention to planning the implementation of their strategies as they give to formulating them. A top-down/laissez-faire senior management style was used. The study recommends that the management should ensure they employ and deploy qualified and competentent individuals. Also, the study recommends that Pan African Life Insurance Company should employ monitoring/supervision mechanism, also allocate enough funds to allow project completion. The study also recommends that Pan African Life Insurance Company Limited should embark on staff improvement through training.