Challenges faced by MTN in introducing mobile money product in Rwandan Telecom Market
Kayumba, Jacqueline K
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International business environment is increasingly changing and becoming more challenging. Technological innovations, globalization and increased competition at both the national and international level have precipitated the changing business environment. The objective of this study was to determine what challenges are faced by MTN Rwanda in introducing Mobile Money product in Rwanda Telecom market. The research design was conducted through a case study. A case study is an in-depth investigation of an individual, institution or phenomenon. The study was designed with the purpose of determining the challenges are faced by MTN in introducing MTN mobile money product in Rwanda Telecom market. This study concentrated on the innovation strategy that MTN adopted to counter changes in the external environment, especially from competition. One major strategy that the company has employed and found useful is the advertising and marketing strategy. A lot of resources in terms of monetary value and physical resources have been employed to promote MTN products. From the interviews that were conducted with managers in various departments of the company with aid of an interview guide, it was found that the company was facing threats from the external environment as whole. Competition is the biggest challenge, hence the reason why the organization opted for an Innovation Strategy. Further research needs to be done to determine whether new and innovative products being introduced by MTN are sustainable in the near future. With increasing competition, more studies need to be done to find out what MTN’s competitors are doing to tap into its market share that has experienced steady growth since inception of MTN mobile money product. Theft of funds has been faced by other competitors in the region for the success of this product research is recommended on prevention measure.