PROCESS INNOVATION AND ORGANIZATIONAL AGILITY IN THE BANKING SECTOR OF NIGERIAN ECONOMY

Abstract

This study examined the relationship between product innovation and organizational agility in the banking sector in Nigeria economy. The study adopted a cross sectional survey research design. 36 top and middle managers from 18 Deposit Money Banks formed the population of the study and the 36 respondents were the size of our sample. Pearson Product Moment Coefficient was used in testing the hypotheses at a 95% confidence interval and a 0.05 level of significance. The reliability of the research instruments with all the items attaining coefficients surpassing the threshold of 0.70with the aid of Statistical Package for Social Sciences version 20.0. The study findings revealed that there is a significant relationship between product innovation and organizational agility in the banking sector in Nigeria economy. Therefore, product innovation in the banking sector in Nigeria led to high sensing agility, decision agility and acting agility. The study recommends that there should be more emphasis on product innovation for the attainment of sensing agility in the pursuit of organizational agility.