Strategic responses to the changes in the business environment by unaitas sacco society ltd, kenya,

Abstract

Organizations are open systems. They operate and survive within an external environment comprising competitors, the economy, suppliers, customers, technological requirements, government and communities. Business environmental conditions currently facing firms are dynamic. This demands more timely and effective competitive actions and responses. Strategic responses position the firm thus giving it a competitive advantage over its competitors. This study was conducted to establish the response strategies adopted by Unaitas SACCO in responding to changes in the business environment. Primary and secondary data were gathered for the study. The study adopted a content analysis method to analyze the data collected. According to the study findings, Unaitas was affected by new technologies, high expectations from their clients, increased Government of Kenya supervision, weather fluctuations and increased competition. Unaitas responded by designing strategies to remain relevant, have a competitive edge and increase its market share. Some of the strategies that the Sacco devised are; marketing and advertisements, diversification, rebranding and partnership. Other strategies are; differentiation, cost leadership and diversification. The study recommended Unaitas to invest more in the latest technology and start agency banking as a strategy of expanding its market share and product differentiation. Due to limitations of the study, suggestions for further research have been recommended.