The Nexus between strategic partnerships and firm performance of listed commercial banks in Kenya
DOI:
https://doi.org/10.31686/ijier.vol6.iss3.977Keywords:
Strategic partnerships, Firm performance, Diffusion of technology, Customer service, Knowledge expertise, Cost synergies, Commercial banks in KenyaAbstract
The aim of the research was to investigate the effects of strategic partnerships on the performance of listed commercial Banks in Kenya. Descriptive design was adopted. This research included all the employees of banks listed in the NSE. The source of information were both primary and secondary. The respondents agreed that diffusion of technology affect performance of listed banks in Kenya as shown by a mean of 0.7907. The participants revealed that creating a strategic alliance can permit complete admission to knowledge and proficiency in an area that a firm does not have as revealed by a mean of 0.6279. The study indicated that cost synergies affect performance of listed commercial banks in Kenya. The research recommends that the management of commercial banks should continue looking in to forming strategic partnerships, this will help in achieving cooperative objectives and at the same time reduce inter competition and business risks. The study further recommends that before partnership agreements are finalized it is extremely important to identify managers who are foreseen as credible across the company.
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