FACTORS INFLUENCING STRATEGY IMPLEMENTATION ON THE PERFORMANCE OF COMMERCIAL BANKS IN KENYA: A CASE OF KENYA COMMERCIAL BANK

Zacharia Mwangi Kirigwi
MBA Student, Jomo Kenyatta University of Agriculture and Technology

Dr. Karanja Ngugi
Jomo Kenyatta University of Agriculture and Technology 

ABSTRACT

Strategy implementation involves allocation of sufficient resources financial, personnel, time, and establishing a chain of command or organizational structure. It involves assigning responsibility of specific tasks or processes to specific individuals or groups. In the world of management, increasing numbers of senior people are recognizing that one of the key routes to improved business performance is better implementation of strategies.  Strategy implementation is an enigma in many companies illustrated by the unsatisfying low success rate (only 10 to 30 percent) of intended strategies. The Kenyan economy has over the last five years, suffered major shocks including post-election disturbances, high oil and fertilizer prices, the global economic and financial crisis, exchange rate volatility, high inflation rates and severe drought that affected most parts of the country (CBK, 2010). However despite the unfavorable business environment, the banking sector’s growth has been on an upwards trend posting double-digit growth in profitability during the period.

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