Customer Perception of Change Management Practices in the Mortgage Industry: the Case of Housing Finance Company of Kenya Limited

Abstract

The study undertook to assess the effectiveness of the strategic change management practices implemented in Housing Finance. The study had two objectives; one to find out customer perception of the effectiveness of Housing Finance Company of Kenya Limited change management practices and secondly to determine the demographic factors that influence perception on the change practices. The population of interest in this study was Housing Finance Company of Kenya, being a well-established mortgage firm that has undertaken several strategic changes in the recent past. It was therefore ideal for gaining insight into the changes undertaken within the mortgage Industry. The study results gave indicators that customers perceived the effectiveness of the strateqic.chanqes as highly effective in the aspects of the product range, staff • friendliness and the physical look of the Organization. However, time taken to serve customers was perceived as not effective. Disparities in perception of effectiveness in the strategic changes existed among various demographic factors. The male respondents perceived the effectiveness of the product range as being more .effective than the female respondents. On the overall, the female respondents had a higher variability compared to the male respondent The Study had the following limitations; the study relied on memory of the respondents during the period prior to the year 2001. The study had not been conceived earlier, which would have facilitated capturing of data prior to the introduction of the strategic changes, the result of any case analysis are always to be considered suggestive rather than conclusive because the case analysis statistically cannot be generalized to the whole population, Further recommendation. for research; the researcher suggests that future studies could be done which deal with only one factor at a time. This could help the researcher bring out other detailed aspects and issues related to each of the factors.