Strategy implementation at national bank of Kenya

Abstract

With the changing business environment, globalization, competition, influence of technology and consumer changing needs and wants, commercial banks have to implement strategies formulated to remain competitive. The drive behind this study was to investigate the impact of effective strategy implementation at National Bank of Kenya by looking into strategy implementation practices, challenges and measures to be to overcome the challenges. The objectives of this study were to; determine the practices of strategy, challenges of strategy implementation and measures put in place to overcome challenges of strategy implementation at National Bank of Kenya. The study adopted a case study as the unit of analysis was one organization. The researcher used both primary and secondary data. The interview guide used in the study. Data was analyzed qualitatively since content analysis was used. The analyzed data was presented qualitatively using themes as measurement variables. It was established that, both internal and external factors influenced effective strategy implementation. It was established that organizational structure, leadership styles, organizational resources, culture, employees motivation and information communication technology influenced effective implementation of strategy. It was concluded that for the success of commercial banks in the turbulent and competitive business environment, proper training to employees, adequate financial support, ICT integration in the system, and democratic style of management was key to effective strategy implementation for both small and large organizations locally and internationally. This is supported by Mckinsey‟s theory that argue that effective strategy implementation is determined by internal factors of the organization. It was recommended that for effective strategy implementation, National bank of Kenya should formulate internal management policies that support strategy implementation. The internal policies should support flexible organizational structure to enhance communication, democratic style of management, effective resources management, and employee motivation and information communication technology for effective strategy implementation. Further studies should be carried out to investigate factors that influence effective strategy implementation among Commercial banks operating in Kenya thus bridging gaps that exist due to inadequate information.