Strategies used by standard chartered bank in building a sustainable competitive advantage in international markets

Abstract

The environment is constantly changing, and so it makes it imperative for organizations to continuously adapt their activities in order to succeed. In order to survive in this dynamic environment, organizations need strategies to focus on their customers and to deal with the emerging environmental challenges. To earn profits, firms need the perfect processes that respond to increases in the size and number of competing firms; to the expanded role of government as a buyer, seller, regulator and competitor in the free enterprise system; and to greater business involvement in international trade. In the current changing business environment, banks, among other organizations, are required not only to create their competitive advantage to lead the trend, but also to be able to sustain and upgrade the created competitive advantage. Foreign banks have many markets to choose from when establishing a presence abroad. This leads to the question what factors affect the decision of a bank from a specific country to go abroad and to choose to establish presence in a specific country. This study determined the strategies used by the commercial banks in Kenya in building a sustainable competitive advantage in international markets, a case of the Standard chartered bank.