Strategic management practices at Pan Africa Life Assurance Limited

Abstract

This research project examines the strategic management practices in Pan Africa Life. Strategic management is a broad activity that encompasses developing strategy, putting strategy into action and modifying strategy or its implementation to ensure that the desired results are achieved. The insurance industry in Kenya is currently experiencing fast growth which has brought about unprecedented competition in the industry. The objective of the study was to determine the Strategic management practices adopted by Pan Africa Life Assurance Ltd and the challenges the organisation encountered ill the strategic management process.The design of this study was a case study. The population of this study was seventeen senior managers in the company.This being a case study, no sampling procedure was required. Data was collected using semi-structured questionnaires and was analyzed using descriptive statistics, The data was coded and entered into a spreadsheet and analyzed using Statistical Package for Social Sciences and excel packages. From the findings, the study found that Pan Africa LifeAssurance practices Strategic Management Practices. It may be necessary to establish if education levels of senior managers affect strategic management practices in the company_ A study could also be done to establish the extent to which the size of or level of operations of individual insurance companies affects strategic management practices in the industry. The researcher highly recommends strategic management practices as a process of specifying the organization's objectives, developing policies and plans and for the company to achieve this, strategic management practices should be highly implemented in the organization.