Analysis of factors affecting strategy implementation at Insurance Regulatory Authority

Abstract

The purpose of this study was to analyze factors affecting strategy implementation at Insurance Regulatory Authority. The problem statement lead to the following question: what factors influences strategy implementation at Insurance Regulatory Authority in Kenya. The study conducted a census survey at Insurance Regulatory Authority, targeting a total number of twenty five (25) managers both top and middle management who represent 100% of the total population. The managers were representatives from all departments in namely Corporate Communication, Policy, Research & Development, Human capital development & administration , Information Communication and technology, Finance, legal affairs, Internal audit/Risk management and Technical department. The nature of data to be collected was quantitative and qualitative. The study found that top management has a very high influence in the Strategic Implementation in IRA. The research also confirmed that the organization structure influences the implementation on strategy due to communication and bureaucracy. On the basis of the foregoing the following recommendations were made, that there is need for to ensure that strategy implementation is supported by the organization structure of the institution, ensure that employees are conversant with their role in the process of strategy implementation and continued feedback on the status of achievement of the strategic objectives. In addition top management should endeavor to reconcile the organization mandate, the resources available, stakeholder’s needs and employee’s needs for effective and efficient implementation of strategy. The study was limited to IRA and a replication of this study through comparative study using sample from other institutions in the regulatory sector and other state corporations is recommended. This will provide an overview of the factors influencing strategy implementation and an in-depth knowledge base and shed more light on the study area. It is envisage that the result of this study provides an understanding on the factors influencing strategic implementation and the importance of understanding them in organization core business.