The Effect of Technology Innovations on the Competitive Advantage of Equity Bank Kenya Limited
Abstract
Strategy is the match between an organization’s resources and skills and the environmental opportunities as well as the risks it faces and the purposes it wishes to accomplish. Firms develop strategies to enable them seize strategic initiatives and maintain a competitive edge in the market. Technology has become a part of the current world the banking industry has embraced it to better meet the growing needs of the customers as well as remain competitive and relevant in the current world. The research sough to investigate the effect of technology innovations on competitive advantage of Equity Bank. The study conducted a census on all managers involved with strategy and technology management at the Bank. The research applied descriptive research design and undertook a study on 100 respondents. The study findings indicated majority of the customers were enrolled on the virtual banking platform and that had limited difficulty using the technology in place. The study finds also that customers preferred usage of the online platform to undertake multiple transactions. This reduced customer teller led strategy at the bank. It is evident that these strategies have improved the quality of services giving it competitive advantage over its competitors. The study faced challenges like some respondents not being available because of their busy schedules and the fear of disclosing sensitive information. The study recommends that due to all organizations should adopt technological changes. This should be adopted also by the public sector to ensure quality products and services. More research should be conducted on all industries and the partnerships taking place due to technological changes and the sustainability of that strategy.
Publisher
University of Nairobi
Subject
Effect of Technology InnovationsRights
Attribution-NonCommercial-NoDerivs 3.0 United StatesUsage Rights
http://creativecommons.org/licenses/by-nc-nd/3.0/us/Collections
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