International Journal of Management and Commerce Innovations ISSN 2348-7585 (Online) Vol. 7, Issue 2, pp: (226-232), Month: October 2019 - March 2020, Available at: www.researchpublish.com
Functional Policy Implementation and the Growth of Deposit Money Banks in Port Harcourt, Nigeria OSHO, Adesina A. Department of Management, Rivers State University, Port Harcourt, Nigeria
Abstract: The study examined the relationship between functional policy implementation and the growth of deposit money banks in port Harcourt Rivers State, Nigeria. The study design is a survey/cross-sectional. The basic research instrument was the questionnaire. The population of study comprises of all the 21 deposit money banks operating in port Harcourt as at December, 2018. Banks growth was measured via increase number of staff and revenue generation of the banks. Pearson Product moment Correlation analysis (PPMC) was used to determine the extent of the relationship between the two variables of study with the aid if the statistical packages for social sciences (SPSS0 version 20. The findings of the tested hypothesis indicated that there is a low negative relationship between Functional Policy Implementation and growth of the Deposit Money Banks in Port Harcourt. Deriving from the findings, the researcher recommend among others that Banks should focus and align their executive teams, business unit, human resources, information technology, and financial resources to their organization’s strategy. To achieve best result (growth) banks should capitalize on capabilities and assets-tangible and intangiblethat existed already within their organizations and that Banks tangible assets such as skilled, motivated employees and customer information systems should be transformed into tangible outcomes such as customer retention, revenues from new product and services, and ultimately profit and that Banks should make sure that all employees understand the strategy and conduct their day to day business in a way that contributes to the success of the chosen strategy. Keywords: Strategy Implementation, Functional policy Implementation, Bank’s Growth, Resource Deployment, Functional Strategies.
1. INTRODUCTION Successful strategy execution depends greatly on good internal organization and competent personnel. Building a capable organization is thus always a top strategy implementation priority. Three organizational issues stand out as dominant according to Glueck (1980); leadership implementation which Simply involve an attempt by the organization to make sure the right leaders are in the right position. Organizational implementation which involves developing the right organogram for a given strategy and Functional policy implementation; which is developing the strategy that has been formulated into specific policies at the functional level and resource deployment. This implementation procedure is done to upgrade organizational performance and growth. The subject matter of growth has in recent years dominated the thought of many managers. Though growth has long been considered the natural course of development of the basic production unit in the economy, it has also greatly featured as a vital force in the survival programmes of most business organizations. Most firm, particularly banks need development in other to flourish, not just to stay alive. Certainly there are many factors a bank can select to calculate its growth. Mainly significant measure is the one that shows improvement with deference to bank established goals. The ultimate goal of
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