Challenges in the implementation of competitive strategies by Barclays Bank of Kenya Ltd
Kenya's banking sector is a cutthroat business arena with each player scrambling for a piece of the pie. Players in this sector have experienced increased competition over the last few years resulting from increased innovations among the players and new entrants into the market. This has forced the existing commercial banks to use varying competitive strategies depending on whether they want to defend the existing markets or to enter into new ones. The purpose of this study was to investigate the challenges facing Barclays Bank of Kenya in the implementation of its competitive strategies in the face of increased competition. A Literature review was carried out which reviewed various concepts on the topic under review. The concepts examined included such as the concept of strategy, competitive strategy, various aspects of Porters competitive strategy, the implementation of competitive strategy and various challenges facing competitive strategy. A research seeking to establish various competitive strategies adopted by at Barclays Bank of Kenya Ltd as well as the implementation of these competitive strategies was carried out. Secondary data was also examined by checking relevant information from company records such as financial statements, employee surveys and staff magazines. This data was used in the formulation of the questionnaire and for coming up with the relevant conclusion. Finally the data was analyzed based on the objectives of the study and involved the use of descriptive statistics including frequencies, means and percentages. It was then presented in tabular form using charts and tables. The researcher then used this analysis to come up with relevant conclusions and recommendation to the research question.