Effects of innovative capabilities on performance in the banking industry: A case of UT Bank Ghana.
Loading...
Date
August, 2016.
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Abstract
Innovation is undoubtedly one primary means by which businesses can adapt to the demands of today’s complex and ever-changing business environment. There is no doubt that the most important business problem of our time is finding a way to build companies where innovation is both radical and systematic. This research sought to examine the effects of innovative capabilities on performance in the banking industry. The specific objectives were to examine innovation capabilities of UT Bank, to assess customers’ perception of UT Bank’s innovative capabilities and to examine the relationship between innovative capability and performance of UT Bank Ghana. The research design adopted was descriptive. The population comprised of staff, management and clients of UT bank. The target population was estimated at 201,039. The sample used was 395. Convenience sampling was used to select 150 staff and 245 clients from the bank. The study concluded that the bank has performed well on some innovative capability dimensions. Dimensions on which UT Bank performed creditably included product innovation, marketing innovation, organizational innovation and process innovation. The study found that Product innovation, marketing innovation and process innovation had a moderate relationship with organizational performance. However, organizational innovation and collaborations had a weak relationship with organizational performance. It is therefore recommended that banks become more proactive in developing products and services that create value for customers. Banks must also empower their frontline executives to become more customer oriented as that presents an opportunity to get customer inputs toward innovative decision making.
Description
A thesis submitted to the Department of Marketing and Corporate Strategy, Kwame Nkrumah University of Science and Technology in partial fulfillment of the requirements for the degree of
Master of Business Administration (Strategic Management & Consulting)
KNUST School of Business,