Assessing the Impact of Strategic Management Practices on the Performance of Commercial Banks in Makurdi – Nigeria
David Adugh Kuhe *
Department of Mathematics/Statistics/Computer Science, Federal University of Agriculture, Makurdi, Benue State, Nigeria.
Victor Utor
Department of Business Management, Benue State University, Makurdi, Nigeria.
Darius Ikyanyon
Department of Business Management, Benue State University, Makurdi, Nigeria.
*Author to whom correspondence should be addressed.
Abstract
The aim of this study is to assess the impact of strategic management practices on the performance of some commercial banks in Makurdi – Nigeria. The study utilized primary data obtained through structured questionnaire administered to 160 respondents sampled from seven commercial banks in the study area. The collected data from the study were analyzed using descriptive statistics, percentages, correlation and regression analysis. The correlation results showed that strategic management practices are highly positively and significantly related to organizational performance. The regression result which explains about 99.9% variability in the model revealed that strategic management had positive and significant impact on the performance and profitability of commercial banks. The study recommended among other things that the management of the commercial banks should enhance the strategic management techniques in order to improve performance.
Keywords: Strategic management, organizational performance, resource-based theory, commercial banks, Nigeria.