PROCESS INNOVATION AND ORGANIZATIONAL AGILITY IN THE BANKING SECTOR OF NIGERIAN ECONOMY
Abstract
This study examined the relationship between process innovation and organizational agility in the banking sector in Nigerian economy. The study adopted a cross sectional survey research design. 36 top and middle managers from 18 Deposit Money Banks formed the population of the study and the 36 respondents were the size of our sample. Pearson Product Moment Coefficient was used in testing the hypotheses at a 95% confidence interval and a 0.05 level of significance. The reliability of the research instruments with all the items attaining coefficients surpassing the threshold of 0.70 with the aid of Statistical Package for Social Sciences version 20.0. The study findings revealed that there is a significant relationship between process innovation and organizational agility in the banking sector in Nigeria economy. Therefore, process innovation in the banking sector in Nigeria led to high sensing agility, decision agility and acting agility. The study recommended that there should be more emphasis on process innovation for the attainment of sensing agility in the pursuit of organizational agility.
Keywords: Process Innovation, Organizational Agility, Sensing Agility, Decision Agility, Acting Agility
CITATION: Ekweli, F. (2020). Process innovation and organizational agility in the banking sector of Nigerian economy. The Strategic Journal of Business & Change Management, 7(1), 81 – 93.
Full Text:
PDFReferences
Ahmed, P.K., & Shepherd, C.D. (2010). Innovation management: Context, strategies, systems and processes. England: Pearson Education limited.
Ahiauzu, A.I. &Asawo, S.P. (2016). Advanced social research methods. Port-Harcourt: CIMRAT Publications.
Daft, R. (2007). Understanding the theory and design of organizations. China: Thomson South-Western.
Daft, R.L., Murphy, J.& Willmott, H. (2010). Organization theory and design. Croatia: South-Western.
De Smet, A. (2015). The key to organizational agility. https://www.mckinsey.com/business-functions/organization/our-insights/the-keys-to-organizational-agility. Retrieved on 12th march, 2019.
Dubois, A. (2018). Increasing agility in decision-making to improve competitiveness. www.reddal.com. Retrieved on 3rd May, 2019.
Dutton, J., & Duncan, R. (1987). The creation of momentum for change through the process of strategic issue diagnosis. Strategic Management Journal, 8, 279-295.
Eisenhardt, M., & Martin, J. (2000). Dynamic capabilities: What are they? Strategic Management Journal, 21, 1105-1121.
El Sawy, O. (1985). Personal information systems for strategic scanning in turbulent environments: Can the CEO Go Go-Line? MIS Quarterly, 9(1), 53-60.
Garbie, I.H., Parsaei, H.R., &Leep, H.R. (2008). A novel approach for measuring agility in manufacturing firms. International journal of Computer Applications in Technology, 32(2), 95-103.
Griffin, W.R. (2005). Management. Boston: Houghton Mifflin Company.
Gupta, V., Gollakota, K., & Srinivasan, R. (2016). Business policy and strategic management: Concepts and applications. 2. Delhi: PHI Learning Private Limited.
Gupta, P. (2009). Business innovation in the 21st century: A comprehensive approach to institutionalize business innovation. New Delhi: S. Chand and Company Limited.
Houghton, R., El Sawy, O. A., Gray, P., Donegan, C., & Joshi, A. (2004). Vigilant information systems for managing enterprises in dynamic supply chains: Real-time dashboards at western digital. MIS Quarterly Executive, 3(1), 19-35.
Jedersrom, K., &Andersson, S. (2017). Process innovation challenges: How to reduce uncertainty through discrete event simulation. Thesis submitted to School of Innovation, Design and Engineering, Malardalen University, Sweden.
Khorakian, A. (2011). Developing a conceptual framework for integrating risk management in the innovation project. A Doctoral thesis presented to the Stirling Management School, Stirling University.
Kock, A.&Gemunden, H. A. (2016). Antecedents of decision-making quality and agility in innovation portfolio management. Journal of Product Innovation Management, 33(6), 649-794.
Mehrabi, S., Siyadat, S., &Allameh, S. (2013). Examining the degree of organizational agility from employees’ Perspective (Agriculture-Jahad Organization of Shahrekord City). International Journal of Academic Research in Business and Social Sciences, 3(5), 315-323.
Meeus, M., &Edquist, C. (2006). Introduction to part I: Product and process innovation. https://www.researchgate.net/publication/241861288. Retrieved 3rd June, 2019.
Miers, D. (2007). Process innovation and corporate agility: Balancing efficiency and adaptability in a knowledge-centric world. www.bptrends.com. Retrieved on 7th April, 2019.
Nelson, A., & Harvey, F. (1995). Technologies for training and supporting your agile workforce. In creating the agile organization: Models, metrics and pilots. 4th Agility Forum Annual Conference.
Park, Y. (2011). The dynamics of opportunity and threat management in turbulent environments: The role information technologies. Doctoral dissertation.
Porter, M. E. (1998). Competitive advantage: Creating and sustaining superior performance. New York: Free Press.
Raschke, R.L., & David, J.S. (2005). Business process agility. http://aisel.aisnet.org/amcis2005/180. Retrieved on 2nd May, 2019.
Requia, C. (2014). Product innovation and competitive advantage. www.scribd.com. Retrieved on 3rd May, 2019.
Roberts, N. (2009). Digitally enhancing customer agility and competitive activity: How firms use information technology to sense and respond to market opportunities in hypercompetitive environments. A doctoral dissertation presented to Clemson University, USA.
Sambamurthy, V., Bharadwaj, A., & Grover, V. (2003), Shaping agility through digital options: Reconceptualizing the role of information technology in contemporary firms. MIS Quarterly, 27(2), 237-263.
Smircich, L., &Stubbart, C. (1985). Strategic management in an enacted world. Academy of Management Review, 10(4), 724-736.
Thomas, J., Clark, S., &Gioia, D. (1993). Strategic sense-making and organizational performance: Linkages among scanning, interpretation, action, and outcomes. Academy of Management Journal, 36(2), 239-270.
Tidd, J., Bessant, J., & Pavitt, K. (2005). Managing innovation. 3. UK: Wiley.
Triaa, W., Gzara, L., &Verjus, H. (2016). Organizational agility key factors dynamic business process management. https://hal.archives-ouvertes.fr/hal-01375649. Retrieved on 7th April, 2019.
Utterback, J.M.& Abernathy, W.J. (1975). A dynamic model of process and product innovation. Omega, 3(6), 639-656.
Wu, Y., & Wang, Y. (2017). Achieving market agility through organizational mindfulness towards IT innovation and information processing capacity. https://www.researchgate.net/publication/317339215. Retrieved on 3rd May, 2019.
Yusuf, Y., Sarhadi, M.&Gunasekaran, A. (1999). Agile manufacturing: The drivers, concepts and attributes. International Journal of Production Economics, 62(1-2), 33-43.
DOI: http://dx.doi.org/10.61426/sjbcm.v7i1.1507
Refbacks
- There are currently no refbacks.
This work is licensed under a Creative Commons Attribution 3.0 License.
PAST ISSUES:
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.