Shared Mission and Organizational Effectiveness: A Study of the Nigerian Banking Industry

Abstract

The study examined the effect of shared mission on organizational effectiveness in the banking industry. A total of 388 managers were randomly drawn from a population of 13,339 managers of all the 24 banks in Nigeria. The instruments used for data collection were questionnaires and oral interview. A total of 320 copies of the questionnaire were retrieved and analyzed. Spearman’s Rank Correlation Statistical tool was used to test the hypotheses. The findings revealed that shared mission is significantly related to profitability, productivity and market share. Based on these findings we concluded that shared mission has significant influence on organizational effectiveness. We therefore recommend that organizations’ mission should be shared amongst employees to enable them contribute effectively to the achievement of organizational goals.

Key Words: Shared mission, organizational effectiveness, profitability, productivity, market share