Browsing by Author "Dowuonah, Agatha Narki"

Now showing 1 - 1 of 1
  • Thumbnail Image
    Item
    Building competitive advantage in a changing banking Environment - repositioning of Ghana Commercial Bank Ltd
    (KNUST, 2011-08-01) Dowuonah, Agatha Narki
    The financial world today is gradually becoming a global village in itself. Since the financial wheel is critical in any development paradigm, the role of banks is even more critical. Ghana Commercial Bank (GCB), the largest state bank in Ghana since independent lost its position as the market leader to Barclays in 2007 but managed to reclaim the position in 2009 till present. This study, therefore, explored the strategies adopted by the management of Ghana Commercial Bank to reposition itself in the competitive banking industry. Personal interviews and the survey method were used in collecting data from the management and staff of Ghana Commercial Bank. Major findings of the study revealed that the bank is now aligned to give a greater focus on the customer and to offer services at lower prices than its competitors. This, the bank indicated is to position itself to become a business that is customer focused and efficient. Management is focusing on reviewing internal processes to remove all input-slackness deriving from underutilisation from production or service processes. The study recommended that Ghana Commercial Bank must introduce more innovative and electronic products, by first upgrading its technological infrastructure. In addition, the bank must also invest in the development of employees in order to survive in the fast changing environment in banking globally