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Driving Organisational Sustainability in the Nigerian Insurance Sector: The Role of Competitive Intelligence

Author

Listed:
  • Joyce M. Odiachi

    (Department of Business Administration, Faculty of Management Sciences, University of Lagos, Akoka, Yaba)

  • Owolabi L. Kuye

    (Department of Business Administration, Faculty of Management Sciences, University of Lagos, Akoka, Yaba)

  • Abdul-Hameed A. Sulaimon

    (Department of Business Administration, Faculty of Management Sciences, University of Lagos, Akoka, Yaba)

Abstract

Traditional insurance is being threatened as the global business environment becomes more competitive. This paper investigates the influence of competitive intelligence on organizational sustainability of the Nigerian insurance industry. The study employed a cross-sectional survey design in data collection from selected companies. Evaluation of the measurement and structural models was done using SPSS AMOS 23 to confirm reliability and validity and also test the hypotheses. The results show that individually, competitor intelligence, product intelligence and strategic intelligence all have a significant relationship with organisational sustainability. However, technological intelligence and market intelligence have no significant relationship with organisational sustainability. The results further reveal that when combined, dimensions of competitive intelligence namely technological, strategic, product, market and competitor, have a positive relationship with organisational sustainability. The study while highlighting the importance of competitive intelligence and organisational sustainability in the Nigerian insurance industry reveals concentration only on a few areas. It thus recommends that there is a need for the insurance industry to recognise and enhance the application and implementation of competitive intelligence across all facets of the organisation’s operations.

Suggested Citation

  • Joyce M. Odiachi & Owolabi L. Kuye & Abdul-Hameed A. Sulaimon, 2021. "Driving Organisational Sustainability in the Nigerian Insurance Sector: The Role of Competitive Intelligence," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 71(1-2), pages 37-54, January-J.
    • Handle: RePEc:spd:journl:v:71:y:2021:i:1-2:p:37-54
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    References listed on IDEAS

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    More about this item

    Keywords

    Competitive intelligence; Technological intelligence; Market intelligence; Product intelligence; Strategic intelligence; Competitor intelligence; Organisational sustainability;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • M19 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Other

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