Safaricom: Strategy And Strategies

3319 Words14 Pages
According to Pearce and Robinson (1997), “strategy is the overall plan for deploying resources to establish a favorable position it comes from the Greek word “Strategos” meaning to lead (agein) an army(stratos) into war. It is a course of action, including the specification of resources required, to achieve a specific objective.”
‘A strategy means making clear-cut choices about how to compete.’ – Jack Welch (Former CEO, General Electric).
Volberda et al (2011), writes a strategy is an integrated and coordinated set of commitments and actions designed to develop and exploit core competencies and gain a competitive advantage.
Quinn (1998) puts it best when he says a strategy is a plan that integrates an organization’s major goals, policies,
…show more content…
The innovation of products and services is one way to differentiate with the competition. Most of the services and products offered by most mobile service providers are almost the same and the current regulation of ceiling enforced by the government on interconnection fee discourages firms from lowering further their call charges. This has led to company’s searching for other ways of differentiating themselves so as to retain and attract customers.
Safaricom is known for using differentiation strategy in order to gain competitive advantage. Safaricom has come up with a range of unique and innovativeproducts and services such as M-pesa, Okoa Jahazi, Simu ya jamii, cloud, video conferencing, Telepresence, Loyalty programs, voice services, data messaging, M-shwari, 4G connections, sambaza and bonga points among others
M-PESA- In 2008 Safaricom revolutionized the way Kenyans and the rest of Africa would transfer money. M-PESA is a money platform in which people can send and receive money through the use of their mobile phones. M-PESA has enabled Kenyans to do business, withdraw, deposit and save
…show more content…
According to the Kenya reinsurance website, Kenya Reinsurance Corporation Limited (Kenya Re) is the oldest Reinsurer in Eastern and Central Africa. It was established through an Act of Parliament in December 1970 and commenced business in January 1971. Kenya Reinsurance’s core activity is providing reinsurance services for most classes of business. Since its inception, Kenya Re has progressively and consistently continued to provide reinsurance services to more than 265 companies spread out in over 62 countries in Africa, Middle East and Asia. Kenya Re is committed to offering world-class reinsurance service.
Kenya reinsurance has formulated specific objectives that contribute to the success of the organizations. These objectives include;
• Be Africa’s best source of reinsurance security and service provider, increase gross premiums from new and existing markets,
• Improve returns on assets, provide international customer service standards,
• Promote professionalism and ethics in the insurance industry.
CORPORATE VISION Be the reinsurer of choice in their chosen

More about Safaricom: Strategy And Strategies

Open Document