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Appraisal of the Strategic Management Practices in Nigerian Banking Organizations: Selected Studies

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Abstract

In this study, we undertook a critical appraisal of the strategic management practices of selected old and new generation banks in Nigeria.

It is motivated by the problem of high rate of bank distresses and failures in the economy.

The objectives therefore were to ascertain the level of corporate accountability, honesty and integrity exhibited by banks’ management/directors in Nigeria;

Discover the level of efficiency in the strategic management of  human, financial and material resources in Nigerian banks; find out the level of compliance to banking ethics and professionalism that exist in Nigerian banks.

For the research methodology, we adopted opinion survey techniques, where primary data for the study came mainly through questionnaires and personal interviews were conducted where appropriate.

Introduction

With the devastating global economic and financial crises, which had seen to the collapse of stocks and banks in many countries of the world,

it is the belief of management and financial experts that for any Nigerian bank to survive it, it must adopt wholesome strategic management practices in its corporate governance.

Donli (2005) observed that traditionally, the role of banks whether in a developed or developing economy, consists of financial intermediation, provision of an efficient payments system and serving as conduit for the implementation of monetary  policies.

It has been postulated that if these functions are  efficiently carried out, the economy would be able to mobilise meaningful level of savings and channel these funds in an efficient and effective manner to ensure that no viable project is frustrated due to lack of funds.

The role of banks in economic development has been richly articulated in the literature.

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