BUSINESS CONTINUITY PLANNING AND PERFORMANCE OF DEPOSIT MONEY BANKS IN NIGERIA
Abstract
This study examined the relationship between business continuity planning and performance of deposit money banks in Nigeria as moderated by environmental turbulence. The study adopted the cross-sectional research survey design. Primary data was generated through structured questionnaire. The population of this study was the 24 deposit money banks in Nigeria. The entire population of 24 deposit money banks were adopted as a census. However, the number of respondents/ participants in the study was one hundred and twenty senior level managers of the 24 deposit Mooney banks in Nigeria. The reliability of the instrument was achieved by the use of the Cronbach Alpha coefficient with all the items scoring above 0.70. The hypotheses were tested using the Spearman’s Rank Order Correlation Coefficient. The tests were carried out at a 0.05 significance level. Findings revealed that there is a significant relationship between business continuity planning and performance of deposit money banks in Nigeria. Therefore, the study concludes that business continuity planning positively enhance the performance of deposit money banks in Nigeria. By prioritizing business continuity planning, deposit money banks can proactively identify potential risks and vulnerabilities within their operations. Hence, the study recommends that deposit money banks should establish robust and comprehensive business continuity planning frameworks that encompass all aspects of their operations. This includes identifying potential risks, establishing clear protocols and procedures for crisis management, and ensuring the availability of necessary resources to implement the plans effectively.
Keyword: Business Continuity Planning, Performance, Profitability, Service Quality, Market Share
CITATION: Odigie, I. W. O. (2024). Business continuity planning and performance of deposit money banks in Nigeria. The Strategic Journal of Business & Change Management, 11 (2), 1125 – 1135. http://dx.doi.org/10.61426/sjbcm.v11i2.2973
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DOI: http://dx.doi.org/10.61426/sjbcm.v11i2.2973
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