Challenges in implementing the strategic plan in the bank Industry

Abstract

Due to ambiguity of the environment, need for strategic planning in various industries is more important than ever. This study seeks to address the obstacles to the implementation of strategy in the bank industry. The statistical population of the study consists of experts in the field of strategy implementation who had experience in strategic staffs of the bank industry. These experts have selected by the snowball method, which is a non-random path for selecting participants. The data collection tool was an interview used in the second-generation of grounded theory. The results suggest that there are four main barriers to implementing the strategy: contextual barriers, input barriers, process barriers, and output barriers. Each of these barriers in the later stages of coding subdivided into smaller subdivisions, as follows: contextual barriers including economic, political, social and legal barriers; the input barriers including staffing, planned documentation, and budgeting; the process barriers including technical barriers, management barriers, and structural barriers.

Keywords

• strategy implementation
• challenge for implementing a strategy
• grounded theory
• emerging approach