ORGANIZATIONAL POLICY FRAMEWORK AND STRATEGY IMPLEMENTATION GAPS
DOI:
https://doi.org/10.47672/ijbs.272Keywords:
Policy framework, strategy, strategy implementation, standard operating procedures, loan processing policiesAbstract
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.
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Copyright (c) 2017 Parmain ole Narikae, Dr. Juliana M. Namada, Prof. Paul Katuse
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