Strategic leadership and change management practices at Chase Bank Kenya limited

Abstract

Organizations have increasingly ventured in complex business environments with the objective of growth, increasing profitability and ensuring that customer satisfaction and loyalty is attained. This study aims at establishing strategic leadership and change management practices at Chase Bank Kenya limited and the challenges faced in regards to the same. The study was carried out through a case study focusing on Chase Bank Kenya Limited and the strategic leadership being practiced and the change management process that was undertaken at the organization in enabling it achieve its goals and objectives while managing the risks and challenges involved. Primary data was collected from the respondents through an interview guide and key informant interviews. A total of 5 interview guides were administered in the process. Secondary data was obtained from existing records such as annual reports, records, print media, academic works audited accounts and journals. The data collected was analyzed using content analysis in order to meet the study objectives. The results from the study findings revealed that strategic leadership at Chase bank Kenya limited was viewed as the visionary leadership that guided the organization, with strategies being formulated by strategists in the bank that ensured need based solutions were reached and thus resulting to competitive advantage over other firms. The respondents cited that the forces of change in the organization were both external and internal. The external forces of change identified were changes in technology, changing demands of consumers, changes in regulatory policies, political forces, economic forces, social cultural forces and competition from other banks. Internal forces of change identified were changes in employee demands, changes in work schedule, growth and expansion, new innovation and restructure changes. Activities that were rolled out as change program were strategy formulation, strategy implementation, strategy evaluation, culture change, staff retraining, review of the organizational structure, review of policy and law, realignment of functions, documentation of procedures/ processes, awareness, coaching, training and role plays. It was established that the challenges faced while leading the activities in the change management program include politics within the organization, resistance to change, difference in ways of perceiving opinions, inadequate funds, staff resignation, poor management and rapidly changing environment with competing initiatives and projects. Strategies adopted for minimizing resistance to change were classified under people-centered and task-centered recommendations. This study recommends that strategic leadership must make change a continuous process and should be well communicated and known by the entire organization. This study offered insights into strategic leadership as key to driving change management offer lessons to professional and practitioners of strategic leadership. The research findings addressed the questions under investigation and the objectives of the study. The implication of the study was to establish the importance of strategic leadership in driving change and the results are going to add value to theory, help academia and practitioners to understand, apply and replicate the findings.