Strategy Implementation Practices and Performance of Commercial Banks in Kenya: The Case of Guaranty Trust Bank Kenya Limited
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The general objective of the study was to establish the impact of strategy implementation practices on performance of commercial banks in Kenya: A case of Guaranty Trust Bank Kenya. Specific objectives were to examine the effect of top management support, strategic communication, strategic evaluation and strategic change on performance of commercial banks in Kenya. This study was conducted using a descriptive research design. The target population was 168 management level employees at GTBank. Stratified random sampling technique was used in choosing the sample size from the target population. The sample size was 118 respondents. Data was collected using questionnaires. A pilot study was conducted to determine the validity and reliability of the research instrument. Data collected was analyzed using descriptive statistics and inferential statistics. Cross tabulations, chi-square tests and metric measures were used in the analysis. The descriptive statistical tools helped in describing the data and determining the respondents’ degree of agreement with the various statements under each factor. Descriptive statistics and regression analysis were carried out, analyzed and tabulated. The study found that top management support has a positive significant influence on performance of commercial banks in Kenya; strategic communications have a positive significant influence on performance of commercial banks in Kenya; strategic evaluation positively and significantly influences performance of commercial banks in Kenya and strategic change has positive influence on performance of commercial banks in Kenya. The study therefore recommends top management in commercial banks to ensure that they support any implementation taking place in the organization. It is also important for top managers and other supervisors to ensure that they provide immediate/timely feedback. In addition, commercial banks need to conduct frequent internal audits; this will help the bank to see its progress and also the information obtained from the audit can be used to make informed decisions.