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Appraisal of the impact of environmental scanning on corporate performance in selected Nigerian banks

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  • Olu Ojo

    (Department Of Business Studies Covenant University, Ogun State Nigeria)

Abstract

This research study examines the Impact of Environmental Scanning on Corporate Performance in Selected Nigerian Banks. Our goal was to establish whether the knowledge of organizations environment and its scanning has any relationship with corporate performance. This research was conducted to increase our level of understanding of the subject investigated and to add to the existing literature on the subject especially in the Third World countries where such study is not popular. Survey research method was used in carrying out the study. Analysis was done using Difference of Mean and Pearson Correlation Coefficient with the aid of Statistical Package for Social Sciences. From the study, the findings show that environmental scanning firms outperform non- scanning firms, that information derived from environmental scanning is increasingly been used to drive the strategic management process, that managers have a significant knowledge of their environment, that the fold up of some banks in the Nigerian banking industry was due to its inefficiencies in scanning its environment for threats and opportunities and that the scanning intensity in each sector is based on the level of perceived strategic uncertainty in each of these sectors. Base on the findings of the study, recommendations were made that more financial resources should be provided by organisation to put the required systems in place for environmental scanning.

Suggested Citation

  • Olu Ojo, 2008. "Appraisal of the impact of environmental scanning on corporate performance in selected Nigerian banks," Manager Journal, Faculty of Business and Administration, University of Bucharest, vol. 7(1), pages 89-100, May.
    • Handle: RePEc:but:manage:v:7:y:2008:i:1:p:89-100
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    References listed on IDEAS

    as
    1. Richard L Daft & Juhani Sormunen & Don Parks, 1988. "Chief executive scanning, environmental characteristics, and company performance: An empirical study," Strategic Management Journal, Wiley Blackwell, vol. 9(2), pages 123-139, March.
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