Impact of Virtual Workspace Adoption on Organizational Performance in Nigeria Banking Industry

Abstract

This work examines impact of virtual workspace adoption on organizational performance in Nigeria Banking Industry. The specific objectives of this study include: to determine the extent to which intranet facility affects profitability of Nigeria banks and to ascertain the extent to which extranet facility affects market share of Nigeria banks. The study adopted the survey design. The population of this study consists of staff of 23 Banks in Nigeria. The study employed a census of 399 respondents which was reduced to 381 after questionnaires were distributed and retrieved. The sources of data for this research work were primary and secondary. Questionnaire was adopted as the method of data collection and designed on a five-point likert scale research instrument. Content validity was conducted to test the validity of the instrument and this was achieved with five management experts: three from the academia and two from industry. Data analysis was done using multiple linear regression analysis with Analysis of Variance (ANOVA) with a five percent level of significance. The findings showed that: intranet facility had a significant positive effect on profitability of Nigeria banks and extranet facility significantly affected market share of Nigeria banks. The study recommends that bank technical team and system developers, should ensure that sites and apps are designed with optimum simplicity to ensure ease of use and reduce TAT (turnaround time) while the bank management should encourage customers to adopt online banking by offering incentives like reduced Cost of Transactions (COT).

Keywords: Virtual Workspace, Organizational Performance, Intranet Facility, Extranet Facility, profitability, Market share.

DOI: 10.7176/EJBM/13-6-18

Publication date:March 31^st 2021