Building competitive advantage in a changing banking Environment - repositioning of Ghana Commercial Bank Ltd
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Date
2011-08-01
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Publisher
KNUST
Abstract
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
Description
A thesis submitted to the Department of Marketing and Corporate Strategy, Kwame
Nkrumah University of Science and Technology, in partial fulfilment of the requirements for the degree of Master of Business Administration
School of Business College of Art and Social Sciences