Strategy Execution and Business Continuity of Deposit Money Banks in Lagos State, Nigeria

Abstract

On the back of several bank failures in Nigeria, this study asked the question about the relevance of strategy execution in addressing the issue. Hence this study examined the effect of strategy execution on business continuity of Deposit Money Banks (DMBs) in Lagos State, Nigeria. This study adopted a cross-sectional survey design and a sample of 379 staff of eleven quoted DMBs in Lagos State, Nigeria. Partial Least Square- Structural Equation Modeling was used to test the study’s hypothesis and the results showed that strategy execution explained significant changes in business continuity of DMBs in Lagos State (Adj R2 =0.373, p=0.000, Q2 =0.183). The study established that strategy execution affects DMBs business continuity. Thus, the DMBs investigated should ensure they look into the process of formulating strategies and identify critical factors that can aid its successful implementation. Keywords: Strategy execution, Business continuity, Dynamic capability theory, Deposit money bank.