EFFECT OF STRATEGIC MANAGEMENT TOOLS ON PERFORMANCE

The general objective of the study is to investigate the effect of Strategic Management tools on Performance in the Nigerian banking industry. The specific objectives of this study are to: examine the extent to which Strategic Management tools (Shared Vision, Cooperation, Empowerment) affect growth, profitability and competitive advantage. The study adopted the cross sectional research design and a sample size of 250 was used for analysis from a population of 995. It employed descriptive, correlation and OLS multiple regression as analytical tool for the study. Findings show that there is significant positive relationship between strategic management tools and growth, profitability and competitive advantage and organizational performance in selected banks in Nigeria. More so that competitive advantage mediate between (Shared Vision, Cooperation and Empowerment) and performance in selected banks in Nigeria. The study conclude that corporation dimension of strategic management when prevalent in an organization, the cooperative effort among individuals to carry out difficult tasks will be achieved, which will result to an open communication among individuals, and the atmosphere will characterized by friendly relations, and that competitive advantage mediate between (Shared Vision, Cooperation and Empowerment) and performance in selected banks in Nigeria. Competitive advantage mediate between and organizational performance, reason being that flexibility and responsibility drives strategic management for better performance. The implication is that there will be an increase in performance in terms of growth in the fixed deposit position and the rate of improvement in balance sheet and gain market share. The study demonstrates the usefulness of competitive advantage (Flexibility, Responsiveness) in achieving organizational performance.