Implementation of expansion strategy at KCB group public limited compan
The objectives of the study were to establish the approaches of implementing expansion strategy at KCB Group PLC, to determine challenges of implementing expansion strategy and to determine measures to deal with the challenges. The study was anchored on Institutional Theory, Resource Based Theory as well as Industrial Organization (IO) economics theory. The target population of the study was the KCB Group Plc top management, middle management and junior staffs. This research design was a case study where interview guide was employed to collect data. Content analysis method was used to analyse the data collected. Both primary and secondary data were used which made the base of content analysis. The study concludes that the expansion strategy implementation at KCB Group PLC uses balanced score card to operationalize the specific objectives. Each department is allocated timelines and targets in order to implement the proposed expansion strategy. Training is used as a tool to align the bank’s structure and culture to strategy implementation. The challenges included the poor internal communication within the bank, lack of ownership of the strategy implementation mostly by the junior staffs due to inadequate information on what is expected from them, insufficient allocation of resources more so the human resource, harsh operating environment due to the happening in the industry such as the interest capping regime in the Kenyan market which is the largest, flawed objectives setting process, lack of feedback mechanism and follow up on the implementation process, low staff commitment and resistance to change by the employees. The study recommends proper training in order to align culture and structure of the bank to the expansion strategy implementation, and for the staff to get more committed and own the process. A research department to be set up to work hand in hand with the strategy department in order to assess the outcomes, then feedback to be relayed to all employees.
Key words: Expansion Strategy; KCB Group; Public Limited Company