| dc.description.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.
Equity Bank Kenya limited is a commercial bank which is amongst the largest banks
in Africa due to its customer base of more than 8 million customers. The study’s
objective was to determine the competitive strategies adopted by Equity Bank Kenya
limited to cope with technological changes. In this context the research question was
‘What competitive strategies has Equity Bank Limited adopted to cope with
technological change?’. The study made use of an interview guide to collect primary
data from the respondents who were: corporate strategists, marketing executives and
other staff in departments involved in implementing the strategies. Data was analyzed
through content analysis. The findings which emerged were that Equity Bank Kenya
limited has adopted competitive strategies to cope with technological changes which
include: Internet connectivity, advanced technological machinery, digital
advertisement, introduction of new products and services and partnership with other
organizations. 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. | en_US |
