EXTERNAL ENVIRONMENT AND THE IMPLEMENTATION OF CUSTOMER FOCUS STRATEGY IN EQUITY BANK KENYA LIMITED
Esther Mbithe - Master of Business Administration in Strategic Management Option, Kenyatta University, Kenya
Dr. James Kilika - Chairman, Department of Business Administration, Kenyatta University, Kenya
ABSTRACT
Customer Focus strategy has been used by banks to improve revenue by attracting new customers and improving the banks wallet of existing customers. The market has become extra competitive and banks need to draw much attention in maintaining customers by building strong relationship due to benefits enjoyed. The general objective of the study was to analyse the external environment and the implementation of customer focus strat-egy in Equity Bank Kenya Limited. The study was guided by the following specific objectives; to determine the effect of staff training on implementation of customer fo-cus strategy in the Banking sector in Kenya, to establish the effect of government policy on implementation of customer focus in the Banking sector in Kenya, to analyse the ef-fect of competition on implementation of customer focus strategy in the Banking sec-tor in Kenya and to establish the effect of organizational culture on implementation of customer focus strategy in the Banking sec-tor in Kenya. The target population of Equi-ty Bank (Kenya) Limited was 108 staff and the Sample size of 54 staff which reflected 50% of the target population. Descriptive research design was used and data was col-lected using a closed-ended questionnaire. Quantitive data was analysed using SPSS and presented using frequencies, percent-ages, tables, figures and measures of central tendencies. Qualitative data was analysed using content analysis and findings present-ed in prose form. The study revealed that; employee training influences customer focus strategy implementation as well as encour-aging joint seminars/workshops between the management and other staff. The study also revealed that the bank’s portfolio has in-creased owing to improved customer satis-faction. The Bank has increased its lending activities due to the implementation of the customer focus strategy. The study therefore recommended that the management of banks should encourage employees’ workshops as well as investing in their career development for the objectives of the bank to be achieved. The management should position their respective banks as a super brand that their customers would like to associate with because of the implementation of the customer focus strategy. Banks should also formulate and implement customer focus strategies that are favorable to both the employees and customers.
