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
Highlights
The Nigeria banking industry has witnessed several transformations ranging from the emergence of the internet which is in a bit to increase customer confidence and service delivery
The introduction of platforms such as mobile banking; a platform that allows customers carry out banking transactions with mobile phones, internet banking; bank website downloaded on personal computers that allows customers bank from the comfort of their homes and ATM; a housed device that pairs with a chip and pin card technology dispensing cash to customers at the go, has aided the delivery of banking services in an efficient manner that is worthy of applause
The “R” value indicates a high degree of correlation while “R2” shows how much variation in extranet facility can be explained by the measure of the independent variables
Summary
The Nigeria banking industry has witnessed several transformations ranging from the emergence of the internet which is in a bit to increase customer confidence and service delivery. This research work is to examine the impact of virtual workspace adoption on organizational performance in the Nigeria Banking Industry. 1.2 Research Objectives The main objective of the study was to examine the impact of Virtual workspace adoption on organizational Performance in the Nigeria banking industry while the specific objectives were as follows: iii. The regression analysis showed that there was a statistically significant relationship between the variables, which indicates that the amount of time managers spend on communicating with employees over virtual means and the employees’ actual quality of communication affected employees’ engagement positively, this affects organizational performance in the main. The purpose is to collect responses from employees of these banks which will allow for a determination, evaluation, assessment, and examination of the effect of virtual workspace adoption on organization www.iiste.org performance. Table 4.2.1:Multiple Regression Analysis showing the relationship between intranet facility and organizational performance
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