International Journal of Case Studies (ISSN Online 2305-509X)

VOLUME 15, ISSUE 9
IMPACT FACTOR 4.428

1) Information Communication Technology and Strategic Management Practices among Deposit Money Banks in Ondo State, Nigeria
Author Details: ¹OLOGUNDUDU Gabriel Sesan PhD-Department of Marketing-Rufus Giwa Polytechnic Owo, Ondo State  ²AJANAKU Bukola Comfort Department of Marketing, Rufus Giwa polytechnic Owo Ondo State. ³OWADIMBOLA Tunde Samuel-Personnel, Registry Unit-Rufus Giwa polytechnic Owo ⁴OLUMOFIN Emmanuel Idowu-Academic Board, Registry Unit, Rufus Giwa Polytechnic Owo
Abstract:
This study examined the effect of Information Communication Technology (ICT) on strategic management practices among Deposit Money Banks (DMBs) in Ondo State, Nigeria, with specific attention to strategic formulation, strategic implementation, and strategic evaluation and control. The study was anchored on the Resource-Based View and Dynamic Capability theories and adopted a survey research design. The population comprised management staff, non-management staff, and customers of Systemically Important Banks (SIBs) operating within Akure metropolis. A purposive sample of four hundred (400) respondents was drawn, and data were collected using a structured, validated questionnaire whose reliability was confirmed by a Cronbach alpha coefficient of 0.86. Data were analysed using descriptive statistics (mean and standard deviation) and simple linear regression. The results show that ICT has a positive and statistically significant effect on strategic formulation (R² = 0.586, β = 0.854, p < 0.05), strategic implementation (R² = 0.577, β = 0.653, p < 0.05), and strategic evaluation and control (R² = 0.522, β = 0.431, p < 0.05) among the sampled banks. The study concludes that ICT infrastructure is a critical enabler across all phases of the strategic management process in the Nigerian banking sector. It is recommended that Deposit Money Banks should increase investment in ICT infrastructure, integrate ICT tools with human expertise and technical capability, and ensure adequate maintenance and utilisation of ICT platforms to strengthen strategic formulation, implementation, and evaluation.
Keywords: Information Communication Technology, Strategic Management, Strategic Formulation, Strategic Implementation, Strategic Evaluation and Control, Deposit Money Banks
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