Relative Importance of Organizational Agility in Customer Retention in the Nigerian Banking Sector (Published)
This research was conducted to investigate the relative importance of organizational agility in customer retention in the Nigerian Banking Sector. The study was focused on establishing the relative strengths of sensing, acting and strategic flexibility on customer retention in Nigerian banks. The survey research design was adopted for the study. The study had an infinite population. A sample size of 440 respondents was administered with copies of the questionnaire while 294 copies or 66.82% response rate was achieved. Data analysis was done with regression statistical technique. Findings of the study indicated an R of 0.886 which implied a strong relationship between the combined variables of organizational agility and customer retention in the Nigerian Banking Sector. It was also found that in terms of the relative importance of organizational agility, acting agility (Beta =1.309, t=3.907 p<0.05) had the greatest influence on customer retention in commercial banks in Nigeria; sensing agility (Beta =2.074, t=3.480, p<0.05) had the second most important influence while strategic agility (Beta =2.641, t=2.373, p<0.05) had the third most important influence on customer retention in commercial banks in Nigeria. It was recommended that commercial banks in Nigeria should leverage organizational agility to retain their customers in an increasingly competitive banking industry of Nigeria by formulating its customer retention strategies along these empirical findings.
Keywords: Customer retention, Nigerian banking sector, acting agility, sensing agility, strategic flexibility
Can Strategic Entrepreneurship Sustain the Market Share of Nigerian Textile Manufacturing Firms (Published)
This paper investigates how strategic entrepreneurship triggers and sustain market share with emphasis on strategic flexibility, adaptability, innovation, strategic leadership, risk taking and dynamic capabilities. The study utilized quantitative method through cross-sectional research design. Primary data were sourced through an adapted questionnaire. Internal consistency confirmed the reliability of the instrument while the content, construct, and criterion validity were acknowledged. Out of the fifteen textile firms in Lagos State, three textile manufacturing organizations were purposively selected with a population of 253 senior management employees. Total enumeration was applied and 237 copies of the questionnaire were retrieved. An econometric model was developed and multiple regression was applied as data analysis method. The findings indicated that strategic entrepreneurship has a significant effect on market share (adjusted R2 =0.353 (F(6, 230) = 22.444, p=0.000). However, the individual coefficient results, identified dynamic capabilities, strategic flexibility and adaptability to have exhibited positive and significant effect on firm profitability. The study recommended institutionalization of adaptive inventiveness, litheness in the areas of adaptability, strategic flexibility, and dynamic capabilities to sustain market share.
Keywords: Market Share, Strategic Entrepreneurship, dynamic capabilities, strategic flexibility