Environmental analysis as a competitive strategic imperative by Barclays Bank of Kenya

Abstract

The banking sector in Kenya plays a pivotal role in the economy. The rapidly changing environment is especially pronounced in this sector. This state of affairs compelled the researcher to conduct this study on environmental analysis as a competitive strategic imperative by Barclays Bank of Kenya. The data was collected from senior staff of the Bank through personal interviews. These interviews were facilitated by an interview guide covering general information about Barclays Bank, strategic changes, challenges of strategic changes, responses to strategic challenges and respondent’s suggestions. The findings of the study are presented in tables containing frequencies, means and percentages The findings of the study indicate the Bank has succeeded in adoption of its strategies by aligning strategies to the structure, adequate resource allocation to projects, ensuring of supportive policies and staff commitment. However, the shortcomings were identified as poor time management, poor communication of strategy to staff, responsibilities not being well defined. Based on the findings it may be recommended that Barclays Bank should not only concentrate on targeting new customers but also emphasize on developing extensive distribution channels in order to gain a competitive edge in the market. The study should also be of importance to other commercial banks and financial institutions whose responsibilities include strategic responses and adoption. Barclays Bank management should change their perception on cost leadership, market share leadership and technology leadership in order to take advantage of the industry growth.