Stakeholder Involvement in the Management of Strategic Change at Finlays Tea Company Limited, Kenya

Abstract

Strategic change and its management are vital for the future sustainability of the tea sector specifically at Finlays Tea Company Limited. Organizations in the postmodern society are operating in a world that is constantly changing and becoming more complex and uncertain. Stakeholder involvement and management is just one of the factors that impact the implementation of strategic change but arguably one of the most critical. This study proposes to highlight the role and effect of stakeholder involvement and management in the wake of implementation of strategic change by studying a few key stakeholder aspects and their impact on the success of change implementation. This research was conducted through a case study. The primary data was collected using interview guide and secondary data collected from company's strategic plan and published reports was analyzed through content analysis. In regard to stakeholders' involvement in strategic change management, the study revealed that management and stakeholders hold divergent views. The management holds the perception that stakeholders are comprehensively involved while stakeholders perceive the change process as devoid of a comprehensive and inclusive stakeholder's involvement. The study concludes that there is still a low level of stakeholder involvement in the management of strategic change at Finlays Tea Company Limited and recommends that although Finlays Tea Company Limited has been successful in strategy implementation, in order to remain profitable and competitive in the market there is need to extensively involve stakeholders in decision making and employ efficient communication channels that avail information on strategic change to all stakeholders. Similar studies however need to be conducted in other tea companies in order to assess whether the study could yield similar findings regarding stakeholder involvement in the management of strategic change.