dc.contributor.author | Gathigia, Winifred W | |
dc.date.accessioned | 2013-11-12T08:37:39Z | |
dc.date.available | 2013-11-12T08:37:39Z | |
dc.date.issued | 2013-11 | |
dc.identifier.citation | Degree in Master of Business Administration | en |
dc.identifier.uri | http://erepository.uonbi.ac.ke:8080/xmlui/handle/123456789/58634 | |
dc.description | A research project submitted in partial fulfillment of
the requirements for the award of a Degree Of Master In
Business Administration (Mba), School Of Business,
University Of Nairobi | en |
dc.description.abstract | The environment in which businesses operate faces stiff competition due to the
existence of other firms producing and/or selling the same products or services. The
aim of every organization in such a competitive environment is to outsmart the
competition leading to development of competitive advantage. Competitive advantage
was considered as the prolonged benefit of implementing some unique combination of
internal capabilities and external advantages that differentiate between competitive
and non-competitive industry play. This study set out to address two main objectives
which were to determine the challenges that CIC Insurance Group was facing from
competition and to establish the strategies being adopted to gain competitive
advantage in the micro insurance industry in Kenya. In order to address the
objectives, the study utilized a case study design in which an interview guide was
used on 5 senior managers in the life division. Qualitative analysis on the data was
done using content analysis. The study found out that the main challenges being faced
by CIC are capital requirement for distribution, product development and technology
that create the threat of entry. Other challenges identified were cannibalistic
competition arising from the many players in the industry offering the same product
to a small size of market and duplication of product leading to threat of substitution.
Findings also found out that CIC was adopting market development, differentiation
and market development strategies in order to gain competitive advantage in the
micro insurance industry. This study could be of great significant interest to the micro
insurance industry and could generate information that can be used in policy
formulation and development of the micro insurance industry. It will also be of
importance to other insurance providers as micro insurance is a new phenomenon and
going through a lot of trial and learnings. Based on the study, the study concluded that
for an organization to survive in a competitive environment, it must adopt strategies to
gain competitive advantage. | en |
dc.language.iso | en | en |
dc.publisher | University of Nairobi | en |
dc.title | Strategies Employed by Co-operative Insurance Company (Cic) Insurance Group Limited for Competitive Advantage in the Micro Insurance Industry in Kenya | en |
dc.type | Thesis | en |
local.publisher | School of Business | en |