A study of the strategic responses to globalization by foreign commercial banks in Kenya: A case of Barclays Bank (k) ltd
The purpose of the research was to find out whether the management of Barclays Bank was aware of globalization and its effects. Hence, the objective of the study was to find out the strategies employed by Barclays Bank of Kenya in response to globalization. This was a case study which targeted Barclays Bank of Kenya, being one of the largest foreign banks in Kenya. The data was collected through structured questionnaires that were administered on face-to-face to the senior management of the bank. A response rate of 80% was achieved out of the targeted 10 respondents. •. The findings of this study show that to a large extent, Barclays Bank has employed various strategies so as to respond to globalization. The senior management are also aware of globalization and have put in place various measures to ensure the bank is abreast with the challenges brought about by globalization and in so doing address the changing customers' needs. The majority of them feel that the bank is responding appropriately and should continue to constantly adjust itself to the dynamic environment (globalization) in order to remain competitive and retain its leading position in the market. The limitations of the study include time and financial constraints which affected the sample size and scope of the study. The use of the structured questionnaires also limited the extent to which the respondents may have discussed issues relevant to the study as they only confined themselves to those mentioned in the questionnaires. It is suggested that further studies be carried out in other foreign and local banks in order to determine the extent to which globalization has affected them. This will also further determine whether there are other strategies that need to be adopted by the banks in order to respond to globalization.