RESPONSE STRATEGIES AND COMPETITIVE ADVANTAGE OF UAP INSURANCE LIMITED IN SOUTH SUDAN
Abstract
The broad objective of this study was to ascertain the impact of response strategies on UAP’s competitive advantage in South Sudan. Descriptive research design served as the study's primary research framework. All 60 UAPSS personnel were the intended demographic for this census research. First hand data was gathered through Semi-structured questionnaires, while financial records of UAPSS, archival library materials, and South Sudan Insurance publications were used to get secondary data on revenues, expenses, and market share. Correlation highlighted the relationships existing between variables. To conduct inferential statistics, the use of multiple regression analysis was employed to check impacts of independent factors on dependent ones. The study results showed that product development (=0.206, t=1.269, p=0.021), market development (=0.29, t=2.025, p=0.049), information technology (=0.228, t=6.688, p = 0.001), and knowledge management (=0.054, t=3.389, p = 0.006) all significantly impacted UAPSS's competitive advantage. According to the study's findings, UAPSS's competitive advantage was positively impacted by its response strategies of product development, market development, information technology, and knowledge management. As a result, the study suggested the following: The four response strategies should be used by UAPSS management going forward since they had all been shown to improve competitive advantage. The management should consider enhancing utilization of market development, information technology and product development respectively as these three strategies were found to be very strong predictors of competitive advantage. Additionally, the management should consider evaluating how other response strategies not covered in the study, which included, organizational structure, new processes, new services, restructuring, marketing, leadership, and culture change, could support the four response strategies that have been studied, in improved competitive advantage of the company. It was advised that a study be conducted incorporating additional response strategies and other insurance companies in order to enable broader generality of findings.
Key Words: Competitive Advantages, Product Development, Market Development, Information Technology, Knowledge Management
CITATION: Muiruri, E. G., & Njuguna, J. W. (2023). Response strategies and competitive advantage of UAP Insurance Limited in South Sudan. The Strategic Journal of Business & Change Management, 10 (2), 110 –124.
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DOI: http://dx.doi.org/10.61426/sjbcm.v10i2.2592
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