INFLUENCE OF COMPETITIVE INTELLIGENCE STRATEGY ON GROWTH OF LISTED COMMERCIAL BANKS IN KENYA

Abstract

This study examined the influence of competitive intelligence strategy on growth of listed commercial banks in Kenya. The study adopted descriptive survey design and used structured questionnaire to collect primary data. The targeted 120 managers of relevant sections in listed commercial banks in Kenya, where Yamame’s stratified sampling formula was used to calculate a sample size of 93 respondents who were selected through simple random sampling. SPPS version 24 was used to analyze the data. Descriptive statistical analysis was used to summarize data using frequencies, percentages and means while inferential statistics was computed to examine correlation, linear and multiple relationships between the independent and dependent variables. A total of 93 questionnaires were sent to the listed commercial banks for data collection and 85 questionnaires were returned completely filled, depicting a response rate of 91.4% which was very good for generalizability of the research findings to a wider population. Both descriptive and inferential statistics showed that all the conceptualized independent variables (operational excellence, strategic alliance, product and customer intimacy intelligence) significantly influence growth of listed commercial banks (dependent variable). The study concluded that one, operational excellence significantly influences growth of commercial banks in the sense that efficient operations improve service quality; two, banks that engage in strategic alliance with telecommunication firms and agency banking can realize an increase in customer base; three, commercial banks with high customer intimacy intelligence can get reliable information about key products that attract and retain a huge customer base. The study recommended that one, operations managers in commercial banks should roll out innovative process operational tools to improve operational efficiency, two, managers of listed commercial banks should engage viable strategic mergers with telecommunication firms and reinforce agency banking so as to attract and retain more customers that can boost bank growth; and three, marketing managers in commercial banks should have an effective customer feedback mechanism so as to timely address product and service related complaints from customers so as not to compromise the cherished relationship that the customers have with their commercial banks. Key Words: Operational Excellence, Strategic Alliance, Product, Customer Intimacy Intelligence CITATION: Wanjala, E. B., & Miroga, J. (2020). Influence of competitive intelligence strategy on growth of listed commercial banks in Kenya.  The Strategic Journal of Business & Change Management , 7(2), 222 – 239.