Managing Strategic Change at Cfc Life Assurance Limited in Kenya

Abstract

The most desirable management skill in 21st century is ability to manage change. Change is the most pressing issues facing organizations, their managers and employees. Organizations are receiving a lot unrelenting stream of pressure from the external and internal organization. Organization’s failure to adapt in an appropriate and timely manner implies organizational failure with obvious consequences to it profit margins, employees’ jobs and a serious disappointment to the stakeholders. This research was designed to establish the strategies which have been used by CFC Life Assurance Limited to manage change and also to determine the challenges faced by the management in implementation of change programmes. The study used a case study design which the respondent were interviewed using an interview guide. The study established that there were many strategic changes which the organization has gone through; change of ownership since American Life Insurance Company Limited left the Kenyan market, change of top management team, technological change, refurbishment of the building and change in human resources policies. The changes were both driven by external and internal factors. v The research findings indicated that there were change management practices. All the employees knew the vision, mission and core values of the organization. There was strategic planning which involved the employees. Communication was done to all stakeholders and this was meant to overcome fears and rally for support for the intended change. Participation in the change process increase ownership and commitment to all who were affected by the change. The study findings lead to a conclusion that the change was planned and inevitable. The researcher noted that there were series of predictable and pre-planned steps. The process involved dialogue, participation, communication and leadership. The strategic changes were meant to increased efficiencies and improved service delivery.