| dc.description.abstract | A well formulated strategy enables an organisation to marshal and allocate its resources
in a unique way on the basis of relative external competences and limitations so as to
achieve competitive advantage (Pascale, Steenkamp & Millier, 2000). The management
risk relevant to strategy execution is greater in the blue ocean than in Red Ocean, because
its execution often requires significant change. The study focused on the adoption of blue
ocean strategy by Commercial bank of Africa limited. It assessed the blue ocean
strategies adopted by Commercial bank of Africa limited. The study adopted a case study
design. The findings were obtained using an interview guide that was administered
personally by the researcher. There were seven managers available at the time of the
study. Demographic profiles established that the majority of managers were male. The
study established that the managers perceived blue ocean strategy as a useful tool in the
management of the banking operations and had positively impacted on the cost,
operations and timely completion of set financial targets. The study also established that
Commercial bank of Africa limited indeed had adopted blue ocean strategy. However,
most managers at the bank did not even have a clue of what a blue ocean strategy means.
The study found out that the services designed by the bank have an element of class and
service excellence with an emphasis to personalized services. The study specifically
identified some products that are practical examples of the blue ocean strategy
implementation by the bank. The particular services added value. made competition
irrelevant and created uncontested market space. The respondents mentioned the leverage
on Information Technology; especially the new core banking software as the backbone of
value addition. The study recommended that there is need to fully entrench the blue
ocean concept by ensuring that managers are well trained on blue ocean strategy. It
further recommended that the government should come up with stringent policies to curb
unfair and unethical competition or market practices in the banking sector. The study was
limited by the fact that it only focused on one bank and therefore its findings may not be
applicable to the entire banking sector. While the managers at Commercial Bank of
Africa perceive blue ocean strategy as being instrumental in streamlining operations in
the banking sector; further research should be conducted to establish whether there is a
correlation between blue ocean strategy adoption and performance of firms in Kenya. | en_US |
