Factors Influencing Strategy Implementation At Giro Commercial Bank Ltd

Abstract

The sought to determine the factors influencing strategy implementation by Giro Commercial Bank Limited and the practices undertaken by the bank to address these factors. To achieve this objective, the study used a case study of Giro commercial bank and the primary data was collected using an interview guide that sought answers through open ended questions gathered from the interviewees. Primary data was collected from all the three interviewees. The interviewees were departmental heads of finance, marketing and operations. Data analysis was done using content analysis. The findings conclude that the factors affecting strategy implementation at Giro commercial bank are; organizational structure, whereby the structure of the organization is not compatible with the strategic goals. Failure to allocate adequate finances to support strategy implementation, resistance to change was also a key challenge that was caused by lack of communication; most employees were not informed whether there were changes taking place in the bank which led to resistance. The findings also found out that the bank did not have a strategic plan which is essential for strategy implementation. The findings also indicated that there were no rewards or any other form of recognition to motivate and inspire employees to work harder and realize strategic goals and objectives. The study recommends that the bank should design and develop a strategic plan which acts as a point of reference of all the activities involved in strategy implementation, the project implementers and support staff. The strategic plan should also contain a budget that supports the activities involved in each and every stage of implementation. The top management should allocate sufficient funds and resources to support the process of implementation. They should ensure that the employees are well equipped with resources and facilities to enable them execute their mandate as stipulated in the strategic plan. The top management should also ensure a system upgrade to ensure that it accommodates the changes taking place. The study was limited to a case study of Giro commercial bank, therefore; these findings are unique to this bank and therefore cannot be used to make generalization of all commercial banks in Kenya. The study suggests that it would be interesting to investigate the factors affecting strategy implementation in another commercial bank that might have undergone strategy implementation findings can then be compared to assess areas of commonalities and unique features. This will create a platform for recommendations and areas of improvement.