Strategic planning practices and performance of Kenya Women holding Limited

Abstract

Over the years, there have been changes in the Kenyan economy. Banks and other financial institutions have not been spared from the impact of these changes. The aim of this study was to determine the strategic planning practices adopted by KWH and the relationship of strategic planning practices and organization performance at KWH. To satisfy these objective data was collected from the senior management, of Kenya KWH who were targeted as the principal respondents. A self-administered Interview guide was used as major tool of data collection. The aim of the interview guide was to capture data on strategic responses adopted by KWH and managers’ opinion on what should be done on ensuring that competitive advantage is attained. Descriptive research design was preferred for the presentation of findings. In this case data was evaluated and presented in form of textual/content analysis. The study established that KWH had put some strategies in place to cater for any challenges and threats to the operations. In this study, expansion coverage, people involvement and training of workforce appeared to be a strategic move by the KWH to lay a basis for offering satisfactory services to their customers and this was geared towards managing emerging trends in banking industry. The results of this study established that the commercial banks are in competition and their products and services differentiation is quite narrow thus requiring strategic planning of all the operations. It was concluded that successful organizations must be able, not only to deliver a high level of customer service, but also manage cultural change. The study recommended for a further research to be undertaken covering other firms especially in other financial institutions specializing in offering insurance services in Kenya.