EFFECT OF STRATEGIC LEADERSHIP ON CUSTOMER RETENTION COMMERCIAL BANKS IN KENYA
Abstract
The purpose of this study was to find out the effect of strategic management practices on customer retention in Commercial Banks in Kenya. Specific objective that formed the basis of the study namely: To establish the effect of strategic leadership practice on customer retention in the commercial banks in Kenya and the theory used was transformational leadership theory. The total number of banks that were registered with the Central Bank of Kenya was forty-three (43) hence a survey method was used. The questionnaires were distributed to all banks and the managers and the department heads were requested to fill in. The total numbers issued was 123 questionnaires and 117 were returned, giving a response rate of 86%. The questionnaires were coded and fed into the SPSS. The data was then analyzed using descriptive statistics such as mean and standard deviation. Inferential statistics was used including ANOVA, correlation, multiple regression method. Qualitative data was used to put into categories based on themes that would be aligned to research objectives and would be integrated in the discussion of the findings. The findings of the study showed that strategic leadership practice were significant. Therefore, it was concluded that to increase customers the strategic management practices must be adopted. Therefore, since strategic management practice could be of value, they were well advised to pursue customer retention as well as at a suitable level of strategic management practices. Strategic leadership practice should enhance employee motivation and decision making since employees who are motivated tend to know what is expected of them and they are key contributors in offering service quality as they are the representatives of the bank.
Keywords: customer loyalty, customer satisfaction, customer retention, strategic leadership
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DOI: http://dx.doi.org/10.61426/sjbcm.v5i1.636
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