Strategic Intent and Organizational Performance: A Study of Banks in Asaba, Delta State Nigeria

Abstract

This study was on strategic intent and organizational performance in the banking industry. The purpose was to identify how strategic intent and it dimensions relates with organizational performance. The design of the study was cross-sectional survey.   A self-report questionnaire was used for data collection. Two hundred and one respondents make up the study sample. The sample consists of 132 (65.5%) male and female 69 (34.5%). The respondents age ranged between 25 and 58 years. Data analysis rejected all the hypotheses tested. It was observed that strategic intent and its dimensions (mission, vision and objectives) significantly and positively  relate with organizational performance. In addition, analysis of effect size revealed that strategic intent account for 34 percent variance in organizational performance. Mission dimension of strategic intent explained 47% variance in organizational performance, vision dimension of strategic intent explained 19% variance in organizational performance, and objective dimension of strategic intent explained 58% variance in organizational performance. It was concluded that overall strategic intent positively and significantly relate with organizational performance and that the various dimensions of strategic intent vary in the degree of variation they account for in organizational performance. It is recommended that founders of, and those who formulate policy and strategy for organizations reflect strategic intent in the organizational mission, vision and objectives. Further study should examine the intervening variables in the relationship.

Keywords: Strategy, Strategic Intent, Mission, Vision, Objectives, Organizational Performance