Drivers of strategy implementation on the banking sector in South Africa

Kelebogile Sibongile Tshabalala, Dinko Herman Boikanyo and Godknows Gomwe
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Kelebogile Sibongile Tshabalala: Department of Business Management, University of Johannesburg, Johannesburg, South Africa
Dinko Herman Boikanyo: Department of Business Management, University of Johannesburg, Johannesburg, South Africa
Godknows Gomwe: Department of Business Management, University of Johannesburg, Johannesburg, South Africa

International Journal of Business Ecosystem & Strategy (2687-2293), 2024, vol. 6, issue 5, 17-22

Abstract: There is significant rivalry among South African banks as a result of the banking sector's being oversaturated. Banks can make use of financial resources, robust organisational cultures, human resources, and productive employee collaboration in light of resource-based theory. The implications of strategy implementations in the banking sector are also looked at. An in-depth interview was created to collect data from twenty-five bank employees. Altas Ti was used for data analysis. The relationship between organisational sustainability and strategy implementation drivers was investigated in this study through the use of qualitative research methods. The results indicate that technology, social capital, organisational culture, and support from upper management all significantly influence how much a strategy is put into implementation. The findings also demonstrate a clear connection between the drivers of strategy implementation and achieving favourable financial and customer outcomes in addition to obtaining a competitive advantage. This study also clarifies the variables that affect strategy implementation and how it could enhance this sector's growth and competitiveness prospects. According to the current study's findings, in order to enhance organisational effectiveness, the banking industry needs to pay special attention to strategy implementation drivers.

Keywords: Bank; drivers of strategy; strategy implementation (search for similar items in EconPapers)
Date: 2024
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