Final answer:
MCB should focus on innovation, customer relationship management, and adherence to regulatory standards to stay competitive in the banking industry life cycle.
Step-by-step explanation:
The question revolves around the strategies that the Mauritius Commercial Bank Ltd (MCB) should deploy to remain competitive within its industry life cycle. Considering the dynamic banking sector, MCB should focus on several strategic areas to maintain its industry position and ensure sustainability and growth. In this highly competitive phase, the bank has to commit to continuous innovation, which involves regularly updating its technology to improve customer experiences, enhancing cybersecurity measures to protect client data and adopting new banking models like digital banking. Additionally, a solid customer relationship management strategy should be a priority, aiming to personalize services and build customer loyalty. Lastly, maintaining regulatory compliance and developing sustainable practices will ensure the longevity and ethical responsibility of the bank within the market.