Strategic change management at Faulu Kenya

This research was on strategic change management at Faulu Kenya with a focus on its \ntransformation to a deposit taking microfinance institution. The objectives of the research \nwere: (i) to determine the nature of the strategic change, (ii) to establish the processes \nundertaken to implement the strategic change and (iii) to establish the roles played by various \nstakeholders in the strategic change process. \nThe research was designed as a case study and used the qualitative research method. \nInformation was collected from both secondary and primary sources. The primary research \nwas conducted through personal face-to-face interviews using an interview guide. In-depth \ninterviews were held with members of the transition team that led the transformation process. \nThe study found that Faulu successfully implemented the strategic change and as a result \nbecame the first institution to be licensed as a deposit taking microfinance institution in \nKenya. Ingredients to successful change such as creating a sense of urgency, having a \nguiding team, and empowerment, highlighted by various writers on change played a \nsignificant role in the strategic change process at Faulu and contributed to the success. Faulu \nonce again has made a great achievement and lends itself as a model institution for the \nmicrofinance industry not only locally, but also globally