The Role of Innovation in Enhancing Bank Performance in Nigeria: A Conceptual Approach

The review of the literature indicates that banks that emphasize innovation get larger market share and that larger market shares are associated with higher revenues and profitability. It is concluded that, since change is inevitable, innovation facilitates the process of adaptation of this change b...

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Bibliographic Details
Published in:Journal of finance, accounting, and management accounting, and management, 2017-07, Vol.8 (2), p.1
Main Authors: Inusa, Auwalu, Bambale, Abdu Ja'afaru
Format: Article
Language:English
Subjects:
Bank acquisitions & mergers
Banking industry
Banks
Central banks
Customer services
Economic growth
Foreign subsidiaries
Innovations
International finance
Literature reviews
Marketing
Performance evaluation
Product development
Profitability
Profits
R&D
Research & development
Studies
Technological change
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Summary:The review of the literature indicates that banks that emphasize innovation get larger market share and that larger market shares are associated with higher revenues and profitability. It is concluded that, since change is inevitable, innovation facilitates the process of adaptation of this change by almost all organizations including banks. Therefore, for banks to survive and enhance their performance, they have to fully embrace especially product, process and marketing innovations. Against this backdrop, this paper aims at proposing a research model to examine the role that innovation plays in driving banks performance in the Nigerian context. Specifically, the paper developed a research model comprising of product, process, marketing, and organizational innovations as independent variables and organizational performance as a dependent variable for empirical testing in the Nigerian banks.
ISSN:2153-2818
2153-2826