INNOVATION STRATEGY AND PERFORMANCE OF DEPOSIT MONEY BANKS (DMBs) IN ABUJA

Abstract

The study examines innovative strategy and performance of selected Deposit Money Banks (DMB) In Abuja, Nigeria. It addresses the problem of lack of comprehensive understanding of how technological, collaborative, and process innovation strategies impact the performance of DMBs in Abuja. The descriptive survey design with a sample size of 171 randomly selected DMBs was employed. The study utilized Primary data source via the used of questionnaire. Multiple regression analysis was used with the aid of Stata13. The study found that there was positive and significant effect of technological innovation, collaboration innovation and process innovation strategies on the performance of DMBs in Abuja Nigeria. The study therefore concluded that innovation strategy positively and significantly influences the performance of DMBs in Abuja, Nigeria. The study recommended that the Managements of DMBs in Abuja should ensure that there are regular provisions of technologically innovative devices, enhance collaborative relationship with relevant organization and other financial Houses as well as CBN so as to benefits their external factors and ensure regular improvement on processes innovation strategy so as to improve their overall performances.