Strategic responses of kcb Nyeri county branches in the face of changing environment.
Njiru, Pamela Murugi
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With the increasing competition that companies are facing today, rewards will accrue to those who can read precisely what consumers want by continuously scanning the environment and delivering the greatest value to customers. Therefore, developing strategies for responding to changes that face the organization is vital to the adaptation of the changing business environment. The main purpose of this study was to investigate the strategic responses being used in Kenya Commercial bank to cope with the changing environment. Specifically, the study was conducted in Nyeri county branches. The variables for the study were research and development, restructuring, marketing mix and customer service. The target population was seventy employees in the Nyeri County branches. A census study was conducted. As at March 2012, there were four KCB branches in Nyeri County. For the purpose of collecting primary data the researcher used questionnaire. Data collected from respondents was both quantitative and qualitative in nature. Quantitative data was analyzed using descriptive statistics such as frequencies and mean scores. Qualitative data was analyzed using content analysis. The basis of using descriptive approach was to give a basis for determining the weights of the variables under the study. The findings were then presented using tables, pie charts, and bar graphs for easier interpretation. The study established that KCB had embraced a number of strategic responses in the face of changing external environment. The study found that majority of the respondents agreed that development of new products and expanding into new markets were some of the strategies the bank was using. The study further found that restructuring has been ongoing for the last three years with a view of enhancing service delivery, lower costs and increase customers' satisfaction levels. By effecting changes in the marketing mix elements the study found out that the bank was able to respond to emerging changes in the market. Giving excellent customer service is one key area the study found out the bank is very keen in implementing. This is enhanced by continuous staff training and taking customer satisfaction surveys and acting upon them. The study recommends that customer focus should be implemented more and incorporated in the organization's culture. It further recommends that the mandate of research and development section be expanded to cover marketing intelligence to unearth the strategies used by the competitors. The bank needs to establish more strategies and keep reviewing them often to have a sustained competitive advantage. The study recommends that further research may be done in other counties and even regions in which the banks operates to establish the strategic responses being employed by the bank in these areas.