Technological Changes and Organizational Growth in Deposit Money Banks in Rivers State, Nigeria

Abstract

This study examined the relationship between technological changes and organizational growth in deposit money banks in Rivers State. The study adopted the cross-sectional survey design to elicit response from staff of the identified deposit money banks in Rivers State. Primary data was collected using self-administered questionnaire. The population of the study comprised all the 16 deposit money banks in Port Harcourt. Using a multi-stage sampling technique, 96 staff were selected as the sample of the study. Since the banks had few permanent staff, convenient and census frame were adopted to determine the number of staff per bank. Thus, using the simple stratified random sampling technique the staff were categorized into three cadres-Top management, IT Personnel and Cashiers/Tellers from which staff were randomly selected from each cadre amounting 6 staff from each bank. The reliability was attained using test-re-test and Cronbach’s Alpha coefficient analysis with all items having a reliability index above 0.70. The Spearman Rank Order Correlation Coefficient (rho) was used in testing the hypotheses. The study revealed that there is a positive significant relationship between technological changes and organizational growth. This implies that the various developments in ICT have positive and significant influence on organizational growth. It, therefore, concluded that organizational growth in deposit money banks can be improved by the application of the various innovations and devices generated in the various stages of technological changes. The study, therefore, more attention be directed towards the use of ICTs in banking operations in deposit money banks in Port Harcourt, Rivers State, since the banking industry serve as a lubricant to the cog of the wheel of the nation’s economy.