Journal of Business Management Perspective

Journal of Business Management Perspective

Designing a model of factors affecting the implementation of marketing strategy in commercial banks

Document Type : Original Article

Authors
ahmad taheri
mohammadmehdi parhizgar
mohammad taghi amini
habibullah danaei
business department of payam e noor university
10.48308/jbmp.19.44.147
Abstract
Objective: Proper implementation of the strategy is recognized as one of the key capabilities of organizations in order to achieve the set goals. However, many organizations do not have enough ability to achieve their goals due to the lack of a proper process for implementing the developed strategies. The present study aimed to provide a model for implementing marketing strategy in commercial service organizations and specifically commercial banks.
Method: This research is applied in terms of purpose; In terms of monitoring and control, it is a field and in terms of how to analyze the data, it is a descriptive type. The approach of this research is qualitative and the method of doing it is Delphi technique. The statistical population of this study consists of experts in commercial banks of Bushehr province who have been sampled using the guided method. Data collection tools are semi-structured in-depth interviews and questionnaires.
Findings: The results show that 13 internal and external environmental factors consisting of two categories of internal factors and one group of external environmental factors on the correct implementation of marketing strategy in commercial banks.
Outcome: Factors affecting the implementation of marketing strategy include: 1- In-system software (including risk management, top management; cross-sectoral relationships; top management commitment; strategy implementation knowledge; leadership tactics; employee and organization interests alignment; planning; organizational coordination ; Organizational culture), 2- hardware factors within the organization (including technology and organizational structure) and 3- external environmental factors (including environmental information and government laws and regulations).
Keywords
Strategy Implementation
Marketing strategy
commercial banks
Delphi technique
  1. Abdullah, U., & Kadir, K. A. (2019). Business Strategy, Marketing Competency and Strategy Implementation Issues Among Small Business in Malaysia. Toward a research agenda. 9(2)251-263.
  2. Ahmadian, S. Khosh Tint, B. (1397). Execution of strategy and performance according to the role of creativity analysts and teaching the principles of strategic planning. Innovation and creativity in the humanities. 8 (2 ) 87-112. (in Persian)
  3. Akbari, A,SH., Moshabbaki, A., khudadadhusseini,S., &Kordnaeich,A. (2016 )Desining The Behavioral Successful Strategy Implementation Model. Management Research in Iran. 20(1)103-130. (in Persian)
  4. Aladag ,O F,. Koseoglu ,M.A,. King, B., & Mehraliyev, F. (2020). Strategy Implementation Research in Hospitality and Tourism Current Status and Future Potential International. Journal of Hospitality Management. (88)1-9.
  5. Alexander, L. (1985), ‘Successfully implementing strategic decisions’, Long Range Planning. 18(3) 91-97.
  6. Al‐Ghamdi,S. M., (1998). "Obstacles to successful implementation of strategic decisions: the British experience". European Business Review. 98(6)322 – 327.
  7. Al-Kandi,I. & Asuta,Y,M & Dixon,R., (2013)." Factors Influencing the Strategy Implementation Process and its Outcomes: Evidense from Saudiarabian Banks". Journal of Global Strategic Management (7) 2. 5-15. 8. Ambiyo, E. C. (2015). Strategy Implementation. Strategic Alignment and Performance of Catholic Relife Services in Kenya. Department of Business Administration School of Business University of Nairobi. Kenya.
  8. Amini, A. (2017). Presentation of a Strategy Implementation Model in The Water and Wastewater Company. Journal of Management and Development Process. 29(4)45-77.(in Persian).
  9. Amiri, A.,Rahro,M., Rahmani Golafshani, M. (2011). Identification and ranking of effective factors in the implementation of organizational strategies (Case study: Central Insurance of the Islamic Republic of Iran). 8th International Conference on Strategic Management. Tehran Iran.
  10. Amoo, N., Hiddlestone-Momford, J., Ruzibuka, J., & Akwei, C. (2019).Conceptualizing and Measuring Strategy Implementation : A Multidimensional View. Strategic Change. 28(6)445-467.
  11. Andrews, K. (1971). The concept of strategy. Homewood, IL: Dow-Jones Irwin.
  12. Ansoff, H. I. (1965). Corporate strategy. New York: McGraw-Hill.
  13. Armenakis, Achilles A.; Holt, Daniel T; Field, Hubert S; Harris, Stanley G. (1993). Readiness for Organizational Change The Systematic Development of a Scale. Applied Behavioral Science. 43(2)232-255.
  14. Babaei Zakliki, M; Hosseinzadeh S, M.; Rahimpour, M; Ahmadizad, A. (2016). Pattern of identifying and analyzing barriers to strategy implementation. Quarterly Journal of Strategic Management Studies.7 (25)215-237.(in Persian).
  15. Bailey, A., & Johnson, G. (1992). How strategies develop in organisations. D. Faulkner & G. Johnson, (Eds.). The challenge of strategic management. London: Kogan Page.
  16. Beer,M.,Eisenstat,R.A.(2000),“The Silent Killers of Strategy Implementation and Learning” .SloanManagementReview.41(4)29-41
  17. Brenes,E.R.,Mena,M.,Molina,G.E. (2007). “Key success for strategy implementation in Latin America”,Journalof business Research.(61)590-598.
  18. Burns, T., & Stalker, G. (1961). The management of innovation. London: Tavistock.
  19. Chandler, A. (1962). Strategy and structure. Garden City, NY: Doubleday.
  20. de Oliveira,C.A.,Carneiro, J., &Esteves, F. (2019). Conceptualizing and Measuring. The Strategy Execution Construct. Journal of Business Research. (105)333-344.
  21. Esfidani, M., & Zandieh, R. (2017). Investigating the Factors Affecting the Success of the Strategic Marketing Plan in Sinabank. Sixth International Conference on New Research in Management, Economics and Accounting. Tehran. Iran.(in Persian).
  22. Faghihi,A., & Alizadeh,M. (2005). Validity in qualitative research. Management culture. 9. 5- 19.(in Persian).
  23. Ghafarian,V., & Kiani,GH. (2005). How to implement the strategy? Tadbir. 156.16- 23.(in Persian).
  24. Greer, C., Lusch , R., & Hitt, M. (2017). A service Perspective for human capital resources: A critical base for strategy implementation. Academy of Management Perspectives.31(2).223-241.
  25. Günther ,K., (2016). Key Factors for Successful Implementation Of a Sustainability Strategy. Journal of Applied Leadership and Management. 2194-9522.
  26. Haghighi,K., Jalali,M., Ebrahimi,M., & Khashei,V. (2019). Design and validation of strategy implementation model in Iranian commercial banks. Strategic Management Studies. (39) 89-119.(in Persian).
  27. Harrington, R.J., Chathoth, P.K., Ottenbacher, M.,&Altinay, L.,( 2014): Strategic management research in hospitality and tourism: past, present and future. International Journal of Contemp. Hospitality Management. 26 (5)778–808.
  28. Herbiniak,L.G.(2006).“Obstacles to strategy implementation”, Organization Dynamics.(35)1.12-31.
  29. Hitt, M. A., Jackson, S. E., Carmona, S., Bierman, L., Shalley, C. E., &Wright, M. (2017).The oxford handbook of strategy implementation. New York, NY: Oxford University Press.
  30. Hong,P.V., & Nguyen,T. (2020).Factors affecting marketing strategy of logistics business[1]case of Vietnam .The Asian Journal of Shipping and Logistics. (242)1-11.
  31. Hörisch,J(2014)." Implementation of Sustainability Management and Company Size: A Knowledge‐Based View". https://doi.org/10.1002/bse.1844.
  32. Ibrahim,E.B.,Harrison,T.(2019): The impact of internal, external, and competitor factors on marketing strategy performance. Journal of Strategic Marketing. ISSN: 0965-254X, 1- 20.
  33. Imbali,T.,Muturi,W&Abuga.V.,(2016)." Factors Influencing Strategy Implementation in the Tourism Industry". European Journal of Business and Management. 8(7)2222-2839.
  34. Johnson, G. (1988). Rethinking incrementalism. Strategic Management Journal. 9(2)75- 91.
  35. Johnson, G.,&Scholes, K. (1993). Exploring corporate strategy. London: Prentice Hall. 37. Kabaiku, M.W. & Karanja (2017). Effects of Leadership on Strategy Execution in Private Dairy Firms in Mount Kenya Region. International Journal of Social Sciences and Information Technology. 2(6).1481-1494.
  36. Kaplan, R.S. Norton, D.P(2004). “Strategic management: An Emerging profession, Balanced score card Report” .Harvard Business school publishing corporation.
  37. Karimi Dastjerdi,D,.Pourezat,A.A,.Seyed Kalali,N., Akhavan Anvari.M.R., (2010).Ranking obstacles to the implementation of strategic decisions. Strategic Management Studies. (2)31-49. (in Persian).
  38. Kastanakis, M., Robinson, S., Tsalavoutas, Y., Fernando, M.,Jonczyk, C.,& Stettner,u., (2019). Making a difference: Thoughts on management scholarship from the editorial team. European Management Journal. 37(3)245-250.
  39. Kerubo,O,J.&Koech,C,S.&Otieno,S. (2020). effect of strategy implementation drivers on the performance of tea processing factories in kisii county, kenya. American Journal of Humanities and Social Sciences Research. 4(5)154-166.
  40. Kimasi M,. Baba Sadeghian M.,(2010). Identify the factors affecting the development of electronic banking using Shannon entropy. International Conference on Financial Services Marketing. Tehran.Iran.
  41. Khalili Shurini S, Mahdi M.(2014). Recognize the obstacles to the implementation of strategic plans and prioritize them. Strategic management research. 20(56)111 – 132 .(in Persian).
  42. Koseooglu,M,A.&Altin,M.&Chan,E.Aladag,O,F.(2020): What are the key success factors for strategy formulation and implementation? Perspectives of managers in the hotel industry. International Journal of Hospitality Management. (89)1-9.
  43. Lawrence, P. R.,&Lorsch, J.W. (1967). Organisation and environment: Managing differentiationand integration. Boston: Harvard Business School.
  44. Lee, E., & Puranam, P. (2016). The implementation imperative: Why one should implement even imperfect strategies perfectly. Strategic Management Journal.37(8)1529- 1546.
  45. Levy, D. (1994). Chaos theory and strategy: Theory, application, and managerial implications. Strategic Management Journal.(15)167-178.
  46. Machado,C.&Davim,j.p.(2016)."Theory and Application of Business and Management Principles". Springer.ISSN2365-0540. (53)189-205.
  47. Mafika.N,S(2015)." Factors Affecting Strategy Implementation: A Case Study of A Local Municipality in Mpumalanga Province, South Africa". European Journal of Business and Management .7(36)2222-2839 .
  48. Mamdouhi. A,R., Seyed Hashemi M.R(2008). Barriers to Implementing Marketing Strategies: Providing a Classification and Ranking for Iran Khodro Company. Management knowledge. 1(1)119-134.
  49. Mankins,M.C.,Steele,R.(2005).“Turning great strategy into great performance”, Harvard Business Review.83(7)577-620.
  50. Marques, J.(2017). Internalization strategies of emerging marketbanks: Challenges and opportunities. Journal ofBusiness Horizons.(60)715-723.
  51. McFadyen, T., & Chai,L.K. (2018). Strategies to improve the implementation of policies: A Systematic Review.8(9): e19151. 21. Doi: 10.1136/bmjopen-2017-019151.
  52. Mehregan, M., Razavi, M., Brotherhood of Light, M. (1391). Qualitative Modeling of Factors Affecting the Success / Failure of Implementing Strategic Decisions in the Gas Industry Using Cognitive Mapping, 9th International Conference on Strategic Management, Tehran. Iran.
  53. Mintzberg, H. (1990). Strategy formation: Schools of thought. In J.W. Fredrickson (Ed.),Perspectives on strategic management (pp. 105-235). New York: Harper.
  54. Mintzberg, H. (1994). The rise and fall of strategic planning. London: Prentice Hall.
  55. Mintzberg, H.,&Quinn, J. B. (Eds.) (1996). The strategy process concepts, contexts, cases. (3rd ed.). London: Prentice Hall.
  56. Moshabaki, Asghar; Poorabrahimi, Nina(2016). Pattern of Obstacles to Banking Marketing Strategies. . Quarterly Journal of Strategic Management Studies.7(25)45-65.(in Persian).
  57. Nabavi, AS; Rasoolian, S.; Haji Gholikhani, R.; Jahani, A. (1389). Investigating the Factors Affecting the Success of Strategic Planning in Golestan Gas Company Using AHP Technique, Fifth International Conference on Strategic Management, Tehran. Iran.
  58. Njoroge,C,W,.(2017)." Factors Influencing Effective Strategy Implementation in Sameer Africa Limited. http://erepo.usiu.ac.ke/11732/3541
  59. Obeidat,B,Y, Al-Hadidi, A.Tarhini,A& Masa’deh,R.,(2017). Review of International Business and Strategy . ISSN: 2059-6014.
  60. Okumus,F. (2001).Towards a strategy implementation framework International Journal of contemporary Hospitality management.13 (7)327-328.
  61. O’Connor,c., & Joffe,H. (2020). Intercoder Reliability in Qualitative Research: Debates and Practical Guidelines. International Journal of Qualitative Methods. (19) 1–13.
  62. Pascale, R. T. (1990). Managing on the edge: How successful companies use conflict tostay ahead. London: Viking Penguin.
  63. Piorkowska,N., & rynca,R. (2020). factors affecting the process of strategy implementation in a higher education institution. Scientific papers of Silesian university of technology organization and management series. (144)383-395.
  64. Pirali,A.,Amini,M.,Parhizgar,M., & Nowroozimobarakeh. (2019). Explaining the pattern of factors affecting the implementation of strategies in organizations. Strategic Management Studies.(37)177- 200.(in Persian).
  65. Quinn, J. B. (1980). Strategies for change: Logical incrementalism. Homewood, IL: Richard
  66. Rajaskekar,J.(2014).Factors affecting Effective Strategy Implementation In a Service Industry:A Study of Electricity Distribution Companies in the Sultanate of Oman. International Journal of Business and Social Science.9 (1)169-183.
  67. Rangchian,Z., Islami,S.,(2018).Identifying and Prioritizing Obstacles to Implementing the Blue Ocean Strategy in Banks (Case Study: Bank Mellat). Fifth National Conference on Applied Research in Management and Accounting. Tehran, Iran.
  68. Richardson, B. (1994). Comprehensive approach to strategic management: Leading across. the strategic management domain. Management Decision. 32(8)27-41.
  69. Rochin,A&Adolfo,G.(2020):Lean Strategy Implementation Challenges. http://etheses.dur.ac.uk/13783/.
  70. Saemian, A. (1389). The Impact of Training on Strategic Planning Research, Fifth International Conference on Strategic Management, Tehran. Iran.
  71. Salehi Sadeghiani,J., Akhavan Kharazian,M., Sobhani Fard,Y Farahmand,V ,.(2013)Determining the critical factors for the success and failure of e-banking projects in Iran.Information Technology Management Studies. (6)23-48. (in Persian).
  72. Shaik,A,S.&Dhir,S.(2020). A meta-analytical review of factors affecting the strategic thinking of an organization. © Emerald Publishing Limited, ISSN 1463-6689 .22. (2)144-177.
  73. Sloan, A. P. (1963). My years with General Motors. London: Sedgewick & Jackson.
  74. Stacey, R. D. (1993). Strategy as order emerging from chaos. Long Range Planning.26(1),10-17.
  75. Stacey, R. D. (1995). The science of complexity: An alternative perspective for strategic. change process. Strategic Management Journal. 16(7)477-495.
  76. Stacey, R. D. (1996). Emerging strategies for a chaotic environment. Long Range Planning,29(2)182-189.
  77. Sull,D.N.,(2005). Strategy as active waiting. Harvard Business Review. www.hbr.org.
  78. Tanudiharjo,R,K.,Yun,F,N,J.,Joo,J,H,A. & Arokian,I. (2021). Investigation of Factors Impacting Lean Implementation in the Indonesian Fast-moving Consumer Goods Industry. Operations and Supply Chain Management. 14(2)162-172.
  79. Tawse,A. & Tabesh,P. (2020). Strategy implementation: A review and an introductory framework. European Management Journal. 1-12.
  80. Theys, M. (1998). The newchallenges of management in a wiredworld. European Journal of Operational Research, 109(2)248-263.
  81. Welch,J.(2002).“Straight from the Gut. Newyork: Harpercollins”. Expert System With Application. 225-237.
  82. Wheatley, M. J., & Kellner-Rogers, M. (1995) Discovering a new world view, breathing. life into organizations. Journal for Quality and Participation. 18, 6-9.
  83. Wołczek, P. (2017). Model wdrażania strategii – wnioski z badań empirycznych liderów biznesów, Warszawa. Handel Wewnętrzny. ISSN 0438-5403.
  84. Wolf, C., Floyd, S.W., (2017). Strategic planning research: toward a theory-driven agenda.J. Manag.(43). https://doi.org/10.1177/0149206313478185.
  85. Vanbuul,M.(2010).“Successful strategy implementation”, Executive Master of Internal Auditing. Amsterdam Business School, University of Amsterdam.Netherland.
  86. Yang, L., Sun, G., & Eppler, M. J. (2010). Making strategy work: A literature review on the factors influencing strategy implementation. In P. Mazzola & F. W. Kellermanns (Eds.), Hand-book of research on strategy process. 165—183