How strategic planning culture has made Equity Bank remain at the top of micro finance banking in Africa and the world
The purpose of this paper is to examine how the culture of strategic planning has made Equity bank to remain at the top of microfinance banking in Kenya, Africa and the world. Equity Bank has revolutionized the banking concept in Kenya and has made banking accessible to majority of the Kenyan and...
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
International Journal of Economics, Commerce and Management, United Kingdom
2021
|
| Subjects: | |
| Online Access: | https://repository.daystar.ac.ke/handle/123456789/3651 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
Add Tag | _version_ | 1792071294370447360 |
|---|---|
| author | Mwangi, Alfred K. Irungu, Dancan Njagi |
| author_facet | Mwangi, Alfred K. Irungu, Dancan Njagi |
| author_sort | Mwangi, Alfred K. |
| collection | DSpace |
| description | The purpose of this paper is to examine how the culture of strategic planning has made Equity
bank to remain at the top of microfinance banking in Kenya, Africa and the world. Equity Bank
has revolutionized the banking concept in Kenya and has made banking accessible to majority
of the Kenyan and East African population. The bank has done well where others have failed
especially on reaching out to the bottom of the pyramid segment. Equity bank has a very strong
institutional culture of strategic planning that has helped in its growth and expansion. The
employees in the bank treat their jobs like a calling to liberate the people of Africa and its either
you fit or you don’t fit in that culture. This culture has seen employees giving their best in terms
of time and energy which has seen the company record excellent performance over the years.
The study used descriptive research design. The target group was the middle level managers in
the Bank. Semi-structured questionnaires and key informant interviews were used as the
instruments for data collection. Data was presented by the use of both descriptive and
inferential statistics. The study revealed that Equity Bank had several strategic management
practices which touched on formulation, implementation and evaluation. These included selfassessment,
competition analysis, resource allocation, strategic management procedures. The
bank had a very strong organizational culture which it leveraged on to push the strategic agenda. The study concludes by retaliating that adoption of strategic planning practices and
institutionalization of a supportive institutional culture are great drivers of organizational
performance. |
| format | Article |
| id | oai:repository.daystar.ac.ke:123456789-3651 |
| institution | Daystar University |
| language | English |
| publishDate | 2021 |
| publisher | International Journal of Economics, Commerce and Management, United Kingdom |
| record_format | dspace |
| spelling | oai:repository.daystar.ac.ke:123456789-36512024-02-21T16:28:30Z How strategic planning culture has made Equity Bank remain at the top of micro finance banking in Africa and the world Mwangi, Alfred K. Irungu, Dancan Njagi Culture Performance Practices Strategic Planning Strategic Management The purpose of this paper is to examine how the culture of strategic planning has made Equity bank to remain at the top of microfinance banking in Kenya, Africa and the world. Equity Bank has revolutionized the banking concept in Kenya and has made banking accessible to majority of the Kenyan and East African population. The bank has done well where others have failed especially on reaching out to the bottom of the pyramid segment. Equity bank has a very strong institutional culture of strategic planning that has helped in its growth and expansion. The employees in the bank treat their jobs like a calling to liberate the people of Africa and its either you fit or you don’t fit in that culture. This culture has seen employees giving their best in terms of time and energy which has seen the company record excellent performance over the years. The study used descriptive research design. The target group was the middle level managers in the Bank. Semi-structured questionnaires and key informant interviews were used as the instruments for data collection. Data was presented by the use of both descriptive and inferential statistics. The study revealed that Equity Bank had several strategic management practices which touched on formulation, implementation and evaluation. These included selfassessment, competition analysis, resource allocation, strategic management procedures. The bank had a very strong organizational culture which it leveraged on to push the strategic agenda. The study concludes by retaliating that adoption of strategic planning practices and institutionalization of a supportive institutional culture are great drivers of organizational performance. 2021-06-25T11:02:11Z 2021-06-25T11:02:11Z 2016 Article Mwangi, A., & Irungu, D. (2016). How strategic planning culture has made Equity Bank remain at the top of micro finance banking in Africa and the world. International Journal of Economics, Commerce and Management, IV(9), 644 - 659. 2348 0386 https://repository.daystar.ac.ke/handle/123456789/3651 en application/pdf International Journal of Economics, Commerce and Management, United Kingdom |
| spellingShingle | Culture Performance Practices Strategic Planning Strategic Management Mwangi, Alfred K. Irungu, Dancan Njagi How strategic planning culture has made Equity Bank remain at the top of micro finance banking in Africa and the world |
| title | How strategic planning culture has made Equity Bank remain at the top of micro finance banking in Africa and the world |
| title_full | How strategic planning culture has made Equity Bank remain at the top of micro finance banking in Africa and the world |
| title_fullStr | How strategic planning culture has made Equity Bank remain at the top of micro finance banking in Africa and the world |
| title_full_unstemmed | How strategic planning culture has made Equity Bank remain at the top of micro finance banking in Africa and the world |
| title_short | How strategic planning culture has made Equity Bank remain at the top of micro finance banking in Africa and the world |
| title_sort | how strategic planning culture has made equity bank remain at the top of micro finance banking in africa and the world |
| topic | Culture Performance Practices Strategic Planning Strategic Management |
| url | https://repository.daystar.ac.ke/handle/123456789/3651 |
| work_keys_str_mv | AT mwangialfredk howstrategicplanningculturehasmadeequitybankremainatthetopofmicrofinancebankinginafricaandtheworld AT irungudancannjagi howstrategicplanningculturehasmadeequitybankremainatthetopofmicrofinancebankinginafricaandtheworld |
The effect of strategic management practices on organizational performance in the banking industry : a case of equity bank /