Strategic Thinking and Flexibility of Deposit Money Banks in South-South, Nigeria

Abstract

This study examined the relationship between strategic thinking and flexibility of Deposit Money Banks in South-South, Nigeria. The study adopted a cross-sectional survey design with primary data was generated through self- administered questionnaire. The population for this study was five (5) tier-one banks in South-South, Nigeria. The study however focused mainly on their Regional Offices located in Port Harcourt. Six Regional Managers for each bank were used as the study respondents giving a total of 30 respondents. Census sampling was adopted since the study sample was small. The reliability of the instrument was achieved by the use of the Cronbach Alpha with all the items scoring alpha coefficient above 0.70. The hypotheses were tested using the Spearman Rank Order Correlation Coefficient with the aid of SPSS version 23.0. The tests were carried out at a 95% confidence interval and a 0.05 level of significance. The study findings revealed that there is a significant relationship between strategic thinking and flexibility of Deposit Money Banks in South-South, Nigeria. The study recommends that deposit money banks should build strategic thinking competencies of its managers and employees through such activities such as brainstorming, scenario visualization, repertoire building and dialogue as critical means by which they can respond most effectively to rapid change and achieve sustainable success.