Strategic Change Management and Performance at National Bank of Kenya Limited

Abstract

Successful organizations recognize the importance of strategy as a tool in management and realize that their survival is dependent on a how well they adopt new strategies or enhance existing strategies in an attempt to respond to changes brought about by the environment. While the quality of strategy is important, we cannot omit the importance of effectively executing the strategy. The current study, sought to contribute to the greater understanding of strategic change management and performance in organizations. In an attempt to achieve the objective of the study, a case study research design was conducted at National Bank of Kenya. Data was collected through face to face interviews of 18 participants. The data collected from the interviews was analyzed qualitatively using content analysis. The research revealed that market analysis is vital during strategy planning as it will highlight challenges being experienced by organizations and in doing so facilitate the development of strategies that are unique and tailor made to offer solutions to challenges experienced and enable the firm to develop a competitive advantage over its rivals, this will translate to improved performance. The research revealed that in order to successfully implement strategies both short and long term strategic plans need to be in place. Adequate and early planning and an inclusive process will prevent resistance by employees in the organization. In order to improve the level of employees confidence in strategic change management their level of competency and empowerment would need to be observed. The research further revealed that critical skills required for implementing the change process were dependent on the complexity and nature of the strategy, leadership skills, relationship skills and financial skills were inevitable in all cases of change management. It was clear from the research conducted that there needed to be stakeholder involvement from the planning stage to the implementation stage. This will ensure that a sense of ownership from all stakeholders is maintained during the entire change management process and in doing so increase the chances of success. This will also ensure that implemented strategies are objectively analyzed before implementation by all parties in order to ensure that strategies identified are fit for purpose. The research further noted that continuous communication on the progress of planning and implementation of agreed strategies vital in ensuring success in strategic change management as all stakeholders will be on the know how on the progress of implementation and what is required of them to ensure successful implementation of planned strategies. The research concluded and recommended that during change management there needs to be stakeholder involvement at all stages to promote ownership and adopted strategies need to be unique to an organization requirement, this will ensure that the organization attains a competitive edge over competitors which will have a positive impact on the firm‟s performance. There were several challenges that I encountered while undertaking the study such as the challenge of scheduling interview sessions with the managers as they were stationed in different offices in dispersed locations. There were also managers who had been in the organization during major strategy planning and implementation phases who had since left the organization and their experience could not be incorporated in the study while some change agents flatly refused to be interviewed as they viewed the information they were being asked to provide was intellectual property of the organization however the employees interviewed provided a good sample size enabling generalization of the findings.