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dc.contributor.authorLengwa, Stella J
dc.date.accessioned2014-12-03T06:27:01Z
dc.date.available2014-12-03T06:27:01Z
dc.date.issued2014-11
dc.identifier.urihttp://hdl.handle.net/11295/75984
dc.description.abstractIn the globalized business, companies require strategic thinking and only by evolving good business strategies can they become strategically competitive. In order for organizations to achieve their goals and objectives, it is necessary for them to adjust to their environment. The role of strategy is to match external environment with the firm’s internal capabilities. Organizations exist in the context of complex commercial, economic, technological, cultural and social world. Competitive environment in the banking industry is changing rapidly to the extent that banks must change by crafting strategies to move the retail banking business forward or face the consequences of inability to fit in the turbulent environment. The research objective of this study was to establish the strategic responses by banking organizations to competition in provision of retail banking services in Kenya. The study employed descriptive cross sectional survey design. This study collected primary data from a target population of all the 43 commercial banks based in Nairobi County. An interview guide was used where senior managers were interviewed. Qualitative data collected through a detailed questionnaire/interview guide was analyzed using conceptual content analysis technique. The responses from different respondents was compared and summarized according to the objectives of the study. From the findings, competitive environment of a business is the part of a company's external environment that consists of other firms trying to win customers in the same market. The interviewees confirmed that in the banking industry, competitive environment has been based on the following elements. Customer products and services includes savings and transactional accounts, mortgages, personal loans, debit cards, and credit cards superannuation, and travel and international payments, evening banking, largest 24- hour ATM network, Internet banking, e- statements, SMS banking and 24- hour Bills Pay service. The study established that most of their organization’s main competitive edge has been based on the huge un- bankable rural poor in Kenya as well as the most banks strong financial base and good reputation i n the financial sector due to increased profitability. The study established that foreign banks possess comparative advantages in terms of a sound financial base and a better reputation than local banks . The following conclusions were drawn; Financial implications is a major consideration while formulating and implementing the choice of strategies adopted by financial institutions while financial resources are determinant in implementation of response strategies. The study recommends that business strategies in response to changing business environment should involve managers in the formulation of such strategies and give them adequate decision making authority in the implementation of the respective response strategiesen_US
dc.language.isoenen_US
dc.publisherUniversity of Nairobien_US
dc.titleStrategic responses by commercial banks to competition in provision of retail banking services in Kenyaen_US
dc.typeThesisen_US
dc.type.materialen_USen_US


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