Factors influencing the implementation of strategic plans in savings and credit co-operative societies in Imenti North District-Kenya

Abstract

Co-operatives in Africa have survived the market forces and continue to grow in number and membership. In the current liberalized economy, Saccos as financial institution like the rest of the private sector must strive to be effective and be able to provide efficient services in order to .attract and retain their members. Hence the need to have appropriate strategies put in places (strategic plan). However, there are many factors that are influencing the implementation of strategic plans Manyara (2003). Therefore, this study sought to find out factors influencing the implementation of strategic plans in Sacco's in Imenti North District. A descriptive survey method was used to conduct the study; the target population was the sixteen Saccos in Imenti North District which made up the sample. Primary data was collected through questionnaires, while secondary data was collected from books, journals, strategic plans, internet and magazines. Data analysis was mainly done 'by descriptive statistics. Findings were presented in form of frequency tables, pie charts, graphs and percentages. This study revealed that majority (87%) of the respondents felt that organization structure affected strategy implementation. Majority (62.5%) of the respondents rated the implementation of the policies good while the minority rated it satisfactory. Similarly, majority (81.3%) of the respondents rated the supervision of work in the SACCOs as good though 18.8% felt that the supervision of work was very good. Majority of the respondents exercised good leadership qualities. However, leaders did not consider or show respect to employee personal feelings. It could be concluded that SACCOs in Imenti North District had good manpower planning mechanisms in place specified the objectives of recruitment and provided a framework for implementation of recruitment programme. Such mechanisms may involve organizational system to be developed for implementing recruitment programmes and procedures by filling up vacancies with best qualified people. Based on study findings, the study proposes the following recommendations: Saccos should adopt new innovative means and strategies of sourcing for funds to finance their activities instead of relying on the members deposits alone, strict implementation of SACCOs SASRA policies, the government should have some control in the implementation of the strategic plans and the need for uniform Sacco supervision in a country-regulation should not be selective.