Strategic Partnerships And Performance Of KCB Group Ltd
Strategic partnerships are considered to be the means of producing a more influential and efficient framework for competing in the international business environment. Strategic partnership relationships continue to be one of the leading business strategies as a result of increasing competition in the global market. The primary objective of this project was to find out the effect of strategic partnerships on performance of KCB Group Ltd. This project employed the case study research methodology. Primary data was used in the study. The researcher employed an interview guide to aid in data collection with open-ended questions to probe senior managers at KCB Group headquarters in Nairobi. The qualitative data collected was analyzed using content analysis technique. The study found that KCB Group Ltd has established strategic partnerships with, Safaricom, Airtel, USAID, and General Electric. The study found that the strategic partnerships has helped the bank enter new markets, reduce costs, improve brand visibility and to be in a position to develop more innovative products and services. The findings highlighted particular challenges encountered in the banks strategic partnerships including flow of information and lack of trustworthiness which results from lack of openness. The study concluded that strategic partnerships have reduced customer attrition through improved service delivery that has led to higher customer retention, repeated business and enhanced customer satisfaction in the bank. The study recommends that partnering organizations should seek to understand what factors make partnerships work and pursue such factors.
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