Response Strategies Adopted By Central Depository And Settlement Corporation Of Kenya Limited To Environmental Challenges
The objective of the study was to identify environmental challenges facing Central Depository and the response strategies adopted by Central Depository to these challenges. This was a case study of Central Depository and Settlement Corporation of Kenya Limited (CDSC).Primary data was collected by use of an interview guide where interviewees were asked on challenges facing Central Depository and its response to the challenges. This data was further processed and analyzed using content analysis. The presentations of the findings are in qualitative form. The findings revealed that Central Depository faced macro environmental challenges such political, technological, sociocultural, legal and physical environment challenges. The research also established that Central depository faced challenges from the industry and operating environment which include challenges from customers, government, general public and employees. Political instability in the region, inadequate infrastructure, financial instability, high interest rates, exchange rates and inflation rates, taxation, investment culture, poor saving culture, conman ship, proposed review of rules, regulatory framework and global climate. The organization responded to these challenges through corporate and functional strategies. The research found that control of operational costs, upgrade of technology, product diversification, dematerialization of securities, strengthening of revenue streams, human resource management and risk management were some of the strategies that Central Depository adopted.