| dc.description.abstract | "Doing business in developing economies like Kenya is difficult because of resource
scarcity, weak institutions, poor market infrastructure and lower purchasing power of consumers
especially in rural areas. In the past, most multinational corporations have repeatedly failed to
penetrate this market, acquire relevant and valuable resources, to create value for these
consumers, launch, and grow a sustainable business. The challenges in designing a business
model in this market is how to combine and maintain a balance between low cost, quality
products, sustainability, profitability, and integrate all stakeholders in value creation.
Safaricom Kenya offers a viable business model for this market, as they are socially and
culturally appropriate and environmentally sustainable building value off local resources and
capabilities. The company harnesses customer competencies by engaging with them beyond the
mere buyer-seller relationship to innovate products with them. Their strength and survival
largely depend on how they understand consumers' needs and how they create, enhance, retain,
and, most importantly, utilize and preserving the existing social capital." | en_US |
