Competitive Strategies Adopted by Multinational Banks in Kenya

Martin Ogutu · Veronica Nyatichi

15 citations0/0 files storedUniversity of Nairobi Research Archive (University of Nairobi)

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Banking Sector Performance and Management Business Strategies and Innovation Banking Systems and Strategies

Abstract

Strategy is a course of action to achieve an objective. Competitive strategy is a business \nstrategy that is concerned with how a company can gain competitive advantage through an \napproach to competing. In spite of the increased competition in the banking industry over the \nyears multinational banks have maintained their success in Kenya and this study’s main \nobjective was to determine the competitive strategies that the multinational banks have \nadopted in Kenya in order to maintain their advantage in the market. Specifically, it sought to \ndetermine the extent to which the banks adopted Porter’s generic competitive strategies in the \nKenyan market. The study was conducted by a census survey in September 2009 and data was \ncollected using a questionnaire. The questionnaire had sections that outlined different \nstrategies and the respondents were supposed to indicate in terms of rating on which ones they \napplied in their bank. The data was analyzed using descriptive statistics such as mean scores, \npercentages and frequencies. The SPSS tool of analysis was also used. The findings indicated \nclearly that for multinational banks to maintain their competitive edge in the market they \nhave largely adopted broad differentiation strategy. The implication of the study was mainly \non customer service differentiation. Customers’ tastes and preferences tend to change all the \ntime, especially if offered with better products. This therefore calls for the banks to set up \nresearch department in their organization which can help in understanding customers needs better so that they maintain their customers. The study gives insight regarding the \ncompetitive strategies that give multinational banks a competitive edge in Kenya.

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References

1985Competitive Advantage: Creating and Sustaining Superior Performance 1998Competitive advantage: creating and sustaining superior performance 20234 Research Methods: Quantitative and Qualitative Approaches 1998Contemporary Strategy Analysis 1996Strategic management: Formulation, implementation and control 2003Strategic Management Theory: An Integrated Approach 2004Crafting and Executing Strategy : The Quest for Competitive Advantage - Concepts and Cases 1988Strategic Management : Strategy Formulation And Implementation

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