Successful customer retention consists of more than just giving the customer what they expect. Electronic service delivery channels have become a means through which banks achieve their objectives of business renewal and providing effective and efficient services. The main objective of this study is to examine the effect of electronic service delivery channels on customer retention in the Nigerian banking industry. The study made use of a sample of 235 employees from some selected banks in Asaba Metropolis in Delta State, Nigeria. Cross sectional survey research design method was adopted, and the statistical tools used comprised simple percentage, correlation and multiple regression analysis. Findings showed that point of sales service exhibited the relatively highest positive effect on customer retention. It was also revealed that online banking service, point of sales service and mobile banking have significant relationships with customer retention. The study concluded that the demand for POS technology seems currently high, however banks are now taping into this opportunity by making POS available at all times, so as to reduce queuing time in the bank and give customers convenience and control. It is therefore recommended that banks should collaborate with internet service providers because it will enable banks to better control quality of service as well as enhance user"s accessibility.
As competition rages on in the business environment, the demand for increased productivity, profitability with reduced cost and effective performance has put organizations under pressure to redirect their strategy towards outsourcing in order to develop and focus on their core competencies. The broad objective of this study is to examine the effect of Human Resources Outsourcing on organizational performance in Deposit Money Banks. The study made use of a sample of 260 staff from 10 money deposit banks in the Asaba metropolis of Delta State, Nigeria. The research instrument was a 25-item validated structured questionnaire of the likert type scale. A cross-sectional survey research design method was adopted, and the statistical techniques used are principle component factor analysis, correlation and multiple regression analysis. The findings showed that that there is a significant positive relationship between the variables of human resource outsourcing and organizational performance. This implies that its effect on organizational performance such as cost savings and productivity is as a result of outsourcing activities. The study therefore concludes that recruitment process outsourcing has significant relationship with organizational performance by moving the recruitment process to a recruitment agency, time is saved by the managers for more efficient planning. There is a need to adopt effective strategies when outsourcing recruitment process because human resource is the most vital asset of any organization. The study therefore recommends that Deposit Money Banks should engage in Human resource (HR) outsourcing practices, in order to get access to expert services as well as to take advantage of the excellent quality that external vendors provide and focus on their core competencies.
Innovation Management and Sustainable Competitive Advantage in the Nigerian Deposit Money Banks 1. Introduction As today's business environment becomes ever more competitive, companies are becoming more antagonistic and energetic in identifying competitive strategies that will guarantee profitable existence. In today's highly dynamic and competitive business environment, companies are exposed to severe challenges with meeting the ever-increasing market and customer needs and expectations, coping with sophisticated regulations and requirements, and facing technological obsolescence. In this view, the concept of innovation is gaining major significance as a means of sustaining growth and performance. Joseph and Mark (2013) assert that in order to achieve and sustain competitive advantage and improve organization performance, managers should examine factors affecting the implementation of competitive strategies. They note that an organization should align its strategies with structure, provide strategic leadership, establish a corporate culture and monitor the implementation of the strategies. These measures are particularly important in the banking industry considering the market volatility marked by stiff competition for the masses by commercial banks (Hicks and Niehans, 2012). In the 21st century innovation has been one of the basic aspects of economic and industrial development policies in diverse countries. The political agenda in most highly developed economies always consists of programs that focus on improve innovation capabilities of companies in order to produce diverse products and services (Alba, Alejandro, Xavier and Jaume, 2011). Innovativeness is a popular tool to capture the growth strategy (Li and Atuagene-Gima, 2011) and a vital part of the corporate strategies (Hitt, Ireland, Camp and Sexton, 2011). Innovations have become the main source of competitive advantage in modern business environment. Proactive firms seize market opportunities and make innovations which give them a competitive advantage that makes them remain market leaders. Innovation entails new sources of supply, new products, new processes of production, new markets and new ways in which the businesses carry out their activities (Osuga, 2016). Hajar (2015) stated that the capability to innovate is accepted today as one of the major sources of competitive advantage among companies. Innovation is an essential factor of a firm's strategy mostly because it constitutes one of the major avenue through which it can create new business opportunities. Despite the uncertainty and risk involved, successful innovation management can have a sizeable impact on firms' financial results and economic performance. Innovations gives companies the strategic orientation to gain the competitive advantage (Kuratko, Ireland, Covin and Hornsby, 2015). Johnson, Scholes and Whittington (2015) explained different kinds of innovation. The need for innovation management is obvious and crucial for deposit money banks operating in a continuous uncertain and competi...
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