MOBILE BANKING AS A STRATEGIC RESPONSE BY EQUITY BANK KENYA LIMITED TO THE CHALLENGES IN THE EXTERNAL ENVIRONMENT

The study focused on how Equity Bank Limited utilizes mobile banking as a strategic response
to the changes in the external environment. Equity Bank is one of the leading commercial banks
that started operating after being legally registered in 1984; the bank has progressed from a
building society to a Microfinance Institution. It boosts of a large client base and has won many
awards in the past few years for its excellent performance in the banking industry. The banks
focuses on embracing the latest technology in carrying out their operations efficiently and
effectively and also creating products using this up to date technology that are far much superior
than those of its competitors. The research intended to bridge a gap in Knowledge, by
determining the corporate strategy of mobile banking that Equity Bank will adopt to respond to
the challenges in the external environment making it a more successful enterprise thanmanagement at Equity Bank, secondly entrepreneurs willing to venture in the mobile banking
industry and thirdly scholars wishing to carry out further research in the industry could find it
useful in guiding of the strategies to adapt to the constant changing business environment. The
concept of strategic management is thoroughly defined and explained in the literature review of
this study. The research also tries to show the formulae of how a business can formulate
strategies and strategic responses in order to meet the needs of the constant changing business
environment so that the firm can have a competitive edge over its competitors. Additionally it
shows business environment and how the various aspects in the environment interact and relate
to one another. The research design used in this research was that of a case study. The method of
primary data collection that was used is that of an interview guide administered through personal
interviews. Due to the interpretive nature of this research, the case study was qualitative in nature
since the data collected is qualitative. Content analysis was used in analyzing the in- depth
qualitative data collected. For a firm to have a competitive advantage over its competitors it’s
should coin a strategic response that will adapt to the constant changing environment. The
at present
in its respective industry. The study will be beneficial to various stakeholders; first, theix
ABSTRACT
The study focused on how Equity Bank Limited utilizes mobile banking as a strategic response
to the changes in the external environment. Equity Bank is one of the leading commercial banks
that started operating after being legally registered in 1984; the bank has progressed from a
building society to a Microfinance Institution. It boosts of a large client base and has won many
awards in the past few years for its excellent performance in the banking industry. The banks
focuses on embracing the latest technology in carrying out their operations efficiently and
effectively and also creating products using this up to date technology that are far much superior
than those of its competitors. The research intended to bridge a gap in Knowledge, by
determining the corporate strategy of mobile banking that Equity Bank will adopt to respond to
the challenges in the external environment making it a more successful enterprise than at present
in its respective industry. The study will be beneficial to various stakeholders; first, the
management at Equity Bank, secondly entrepreneurs willing to venture in the mobile banking
industry and thirdly scholars wishing to carry out further research in the industry could find it
useful in guiding of the strategies to adapt to the constant changing business environment. The
concept of strategic management is thoroughly defined and explained in the literature review of
this study. The research also tries to show the formulae of how a business can formulate
strategies and strategic responses in order to meet the needs of the constant changing business
environment so that the firm can have a competitive edge over its competitors. Additionally it
shows business environment and how the various aspects in the environment interact and relate
to one another. The research design used in this research was that of a case study. The method of
primary data collection that was used is that of an interview guide administered through personal
interviews. Due to the interpretive nature of this research, the case study was qualitative in nature
since the data collected is qualitative. Content analysis was used in analyzing the in- depth
qualitative data collected. For a firm to have a competitive advantage over its competitors it’s
should coin a strategic response that will adapt to the constant changing environment. The
findings this study focused on the mobile banking responses and marketing responses on the
external environment and show how they were used to solve the challenges found in the business
environment based on the forces found in the external environment namely; political, economic,
legal and regulatory, social and demographic and information technology. In conclusion that can
be determined that the mobile banking industry is a placed in a very dynamic environment due to
the stiff competition from rival companies and the constantly changing Information Technology
aspects context and contents therein. The marketing strategies to be used to maximize revenue
for the firm should be in tune with the constant changing external environment. The firm should
strive to have a niche in the market in offering a service that is unique from its rivals to be the
market leader in the industry.

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