Assessment of Strategic Planning Implementation on organizational Performance of Commercial Banks in Tanzania

Abstract

This study assessed strategic planning implementation on organizational performance, a case study of Tanzania Commercial Bank in Dar es Salaam Region. The study focused on investigating the extent of strategic planning implementation, examining the relationship between strategic planning implementation and organizational performance, and identifying the critical success factors for strategic planning implementation. A case study research design and mixed research approach were used. The targeted population of this study is 182 respondents. The sample size of 81 respondents were used which included 75 bank officers and 6 branch managers of Tanzania Commercial Bank in Dar es Salaam Region. This study used simple random sampling technique in selection of bank officers and purposive sampling technique in selection of branch managers. Primary data were collected through questionnaire and interview methods, while secondary data were collected through documentary reviews. Quantitative data were analysed by using descriptive statistics while qualitative data were analysed by using content analysis. The study on Tanzania Commercial Bank's strategic planning reveals a high level of awareness and commitment to the process among all respondents. Most respondents conduct annual plan reviews, emphasize transparency in communication, and consistently track progress towards strategic goals. The implementation of strategic planning is seen as positively impacting various aspects of the bank's operations, including decision-making, financial performance, and employee engagement. Recommendations include improving progress tracking, educating employees, diversifying communication methods, conducting regular plan reviews, optimizing resource allocation, and enhancing employee engagement to further strengthen the bank's strategic planning and overall performance.