Change Management Strategies Adopted by Chase Bank Limited, Kenya

Abstract

Change can be dictated by business trends, environmental factors and shifts in the global, social and political sphere. It can come about because of the expectations of stakeholders. It can be embarked upon in a proactive and strategic way, or it can be a reactive process in response to a crisis, either within the organization or outside it. The purpose of this study was to establish the change management strategies that are adopted by Chase Bank Limited in Kenya. The study had two objectives: to establish the change management strategies that are adopted by Chase Bank Limited and to determine the challenges faced by Chase Bank Limited in managing change. The study took the form of a case study design since it focused on a single entity. Qualitative data was collected from 5 managers in the bank who are involved in various departments. The findings reveal that the drivers of change in Chase bank limited are the environmental changes that occur in the business environment. The environment presents opportunities that the bank may want to exploit hence the need to change. The bank may also adopt change as one way of addressing some of the threats that exist in the environment. The main challenges include resistance from some individuals who are not willing to change; lack of support from top management; lack of enough resources both financial and human resources that may be required for specific change initiatives in the bank.