Effectiveness of change management practices at Kenya Commercial Bank (KCB) limited

Abstract

The cornerstone of any. business success in the current dynamic environment is the company effectiveness in managing the change. Initiatives such as TQM, BPR and others require a significant change to the policies and procedures used by firms. It is obvious that to take advantage of strategic opportunities and address problems, companies have to implement effective change management practices to their business processes, products, and/or to the organization itself. The objective of this study was to determine the effectiveness of change management practices at the Kenya Commercial Bank (KCB) Ltd. This study used a case study design. Primary data was collected using an interview guide. The interviewees were the functional heads and top managers in retail banking, finance and strategy, risk management, information technology, operations, marketing and research division and human resources. These interviewees were more versed with strategic issues for it is them that formulated and oversaw the implementation of strategic decisions and are as a consequence experienced in that area. The information obtained from the interview guide was analyzed using qualitative analysis, which was done using content analysis. From the findings, the study found that change management practice at KCB was very effective. This is because the application of change management practices led to enhanced productivity per employee, growth through channel expansion, increased income and improved company profits, customer retention and increased customer base through global infrastructure, quality products & service delivery, increased revenues by exceeding sales targets, reduced costs through implementation of green agenda, enhanced relationships- in the company/departments, team support and a competitive edge of an expansive network locally and regionally. The study recommends that in order to succeed in implementing change management practices in the bank, KCB should ensure that there are no delays in the implementation, the bank should work towards customer delight instead of working from customer complaints, continuous research and tests should be carried out to promote innovation and quality, tools and techniques to deal with the change should be provided and in addition to proper communication on change and staff being adequately prepared for change, staff who supersede change expectations should be recognized.