Innovativeness and Organizational Performance of Deposit Money Banks in Port Harcourt, Nigeria

Abstract

The study examines the relationship between corporate entrepreneurship initiative and organizational performance of deposit money banks in Port Harcourt. The study adopted survey/cross sectional research design. Therefore questionnaires were developed and copies sent to 126 respondents representing the 21 deposit money banks that serve as the population of study. The research instrument was tested for validity and reliability. Five hypotheses was stated and tested with the Spearman Rank Correlation Analysis (rho) using statistical package for social sciences (SPSS) version 20 software. The result of the analysis indicated positive relationship and negative relationship between the dimension and measures. Therefore, the researcher concludes that there is a low positive relationship between corporate entrepreneurship initiative and the performance of deposit money banks in Port Harcourt highly moderated by culture of the organization. Deriving from this finding, the researcher recommends that the deposit money banks should try and renew their strategies regularly for better performance. That innovative spirit should be imbibed by the management of the Banks. The banking culture should be reviewed to meet with international standard of commercial banking.