Abstract
Purpose: The journal aims at assessing how organizational policy framework leads to strategy implementation gaps. The study population was made up of management and support staff of Kenyan commercial banks.Methodology: It employed the use of questionnaires to obtain relevant data from respondents. The study focused on 250 top, middle and lower level employees from Kenyan commercial banks. Data was analyzed using descriptive and inferential statistics. The descriptive statistics methods used include mean and standard deviation. The inferential statistics used in the study include Pearson correlation, analysis of variance (ANOVA), and coefficients. The research data was analyzed using Statistical Package for Social Sciences (SPSS) version 20 and Microsoft Excel programs. Organizational policy framework was divided into ten parameters; standard operating procedures, operations manuals, loan processing policies, human resource policies, company circulars, departmental communication, memos, instructional letters, email instructions and information technology policies. Of all the ten factors of organizational policy framework, the highly statistical significant ones were standard operational procedures and loan processing policies.Results: A correlation analysis to determine the relationship between standard operating procedures and loan processing policies established that standard operating procedures influenced loan processing policies.Unique Contribution to Theory, Practice and Policy: The study assessed how policy framework leads to strategy implementation gaps in Kenyan Commercial Banks. Further studies about factors leading to strategy implementation gaps should be conducted on other financial institutions like insurance and, indeed, other industries.
Highlights
Strategy, according to Johnson, Scholes, and Whittington (2006) is the scope and direction of an organization over the long term, which achieves advantage in a changing environment through its configuration of resources and competencies with the aim of fulfilling stakeholders‟ expectations
A correlation analysis to determine the relationship between standard operating procedures and loan processing policies established that standard operating procedures influenced loan processing policies
Unique Contribution to Theory, Practice and Policy: The study assessed how policy framework leads to strategy implementation gaps in Kenyan Commercial Banks
Summary
Strategy, according to Johnson, Scholes, and Whittington (2006) is the scope and direction of an organization over the long term, which achieves advantage in a changing environment through its configuration of resources and competencies with the aim of fulfilling stakeholders‟ expectations. Strategy is very critical and significant for an organization that endeavors to attain competitive advantage and thrive in the business environment (Kaplan & Norton, 2010). Wernham (2008) argues that, strategy implementation involves organization of the firm's resources and motivation of the staff to achieve objectives. Strategy implementation is imperative for the reason that its failure or success may have a major impact on the success and sustainability of the business. The success of strategy implementation may not be assured. Strategy Implementation is recorded to have unsatisfying low success rate in most organizations (Solieri, 2011)
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