Market Place Opportunities and Competitive Advantage among Commercial Banks in Kenya
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Date
2020
Authors
Waithaka, Paul
Journal Title
Journal ISSN
Volume Title
Publisher
IAJHRBA
Abstract
Globalization and technological
advancement have in a big way altered the
business landscape, making it difficult for
banks to sustain competitive advantage. The
need to enhance competitiveness has forced
banks to consider competitive intelligence
not only as a tool and a mechanism for
discovering new opportunities and trends.
Competitive intelligence contributes to
continuous improvement of the quality of
products, services and solutions offered by
companies to their clients as well as
increasing a firm’s innovative capability.
Market place opportunities have been
identified as one of the competitive
intelligence domains that a firm needs to
focus on in order to gain and sustain
competitive advantage. This paper sought to
examine the effect of market place
opportunities on the competitive advantage
among commercial banks in Kenya. The
target population for the study were
directors or managers in-charge of planning
or strategy in each of the forty banks in the
country. Primary data was collected using a semi structured questionnaire. The
questionnaire was tested for both validity
and reliability and was found to meet the
required threshold. A response rate of 77.5%
was achieved in the study and this was
adequate for analysis. The study found that
market place opportunities had significant
effect on the ability of banks to gain and
sustain competitive advantage. The study
concluded that market place opportunities
domain of competitive intelligence would
help managers understand strategies the
banks would use to identify opportunities in
the market before they become obvious to
rivals thereby gaining competitive
advantage. The study therefore recommends
that banks should raise the level of use of
competitive intelligence in monitoring the
competitive landscape to enable early
identification of opportunities in the market
place that banks could exploit to their
advantage.
Description
Article
Keywords
market place opportunities, competitive intelligence, competitive advantage
Citation
Waithaka, P. (2020). Market place opportunities and competitive advantage among commercial banks in Kenya. International Academic Journal of Human Resource and Business Administration, 3(9), 304-318