Innovation and Change as a Tool For Organisations’ Survival (A STUDY OF FIRST BANK NIGERIA PLC, OJODU BERGER, LAGOS)

Abstract

This survey is done to assess innovation and change, as a tool for organizations’ survival.  The major objectives were to identify various factors that impinge on innovation and change in an organization and to assess how innovation and change associate with an organization’s survival.  28 respondents were selected by random sampling techniques; the tool used was self administered copies of questionnaire.  Data and information were collected through primary and secondary sources and a test was information were collected through primary and secondary sources and a test was conducted on the hypotheses, using coefficient of correlation as the tool for analysis. The study established that there existed some problems inherent in innovation and change in organizations.  In First Bank Nigeria, Ojodu Berger Lagos, the major problems are in the areas of inability of the organization to improve corporate performance, and lack of adaptability.  In view of these results, it was recommended that managers should continuously encourage team participation.  Also, there should be effective alignment of actions on change management and organizations environment.  Effective monitoring of results which involves the monitoring of all goals, actions and teams involved should be carried out in the innovation and change process.