Browsing by Author "Yaa, Louis Karisa"
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Yaa, Louis Karisa (Daystar University, School of Business and Economics, May , 2013)[more][less]
Abstract: Strategic management is a concept that is concerned with making decisions and taking corrective actions to achieve long term targets and goals of an organization. The importance of strategic management in a firm can be answered by analyzing relationships between strategic management and organizational performance. The purpose of the study was to investigate the strategic management practices employed in commercial banks in Kenya and the associated challenges faced by the banks in their implementation. The study adopted a case study research design, with a population of 850 management staff at Kenya Commercial Bank. A sample size of 85 management respondents was selected using stratified random sampling. The researcher used questionnaires and interviews as a means of data collection. Descriptive statistics were used to analyze the data obtained. The study found that the bank had adopted strategy planning at 65%, involved staff in strategic formulation process at 53.5% and used a management practice of strategy evaluation at 58%. The bank faced a lack of funding or capital at 71%, a lack of innovation or adoption of innovative ideas at 71% and a lack or inability of top management to cascade the strategic plans downwards to the line managers at 56%. The study concluded that there was considerable impact arising from the strategic practices adopted by KCB and that substantial and material challenges were faced as a result of deploying or implementing the chosen strategic practices. The study recommends that Kenyan banks adopt strategic management planning as key tool in the business development and that KCB and indeed other commercial banks should continue scanning strategic challenges that they may encounter in line with implementation controls, so as to forestall erosion of the Kenyan economy’s financial base Description: Master of Business Administration in Strategic Management URI: http://repository.daystar.ac.ke/xmlui/handle/123456789/3479 Files in this item: 1
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