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Effect of Diversity Management on Sustainable Competitive Advantage of Zenith Bank PLC, Lagos

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  • AFOLAYAN, Michael Ayorinde

    (Faculty of Management Sciences, Department of Businesss Administration,Lagos State University, Ojo, Lagos State. Department of Business Administration, Anchor University, Lagos.)

  • NWOKEDI, Chinenye

    (Faculty of Management Sciences, Department of Businesss Administration,Lagos State University, Ojo, Lagos State. Department of Business Administration, Anchor University, Lagos.)

  • LAWAL, Oloyede Raheem

    (Faculty of Management Sciences, Department of Businesss Administration,Lagos State University, Ojo, Lagos State. Department of Business Administration, Anchor University, Lagos.)

  • GABRIEL Olayinka Enoch

    (Faculty of Management Sciences, Department of Businesss Administration,Lagos State University, Ojo, Lagos State. Department of Business Administration, Anchor University, Lagos.)

  • ABDULGANIYU,Toheeb Olayemi

    (Faculty of Management Sciences, Department of Businesss Administration,Lagos State University, Ojo, Lagos State. Department of Business Administration, Anchor University, Lagos.)

Abstract

This study examines the effect of diversity management on the sustainable competitive advantage of Zenith Bank in Nigeria, with emphasis on workplace diversity, gender diversity, and religious diversity. The research adopted a descriptive survey design, with a population of 7,704 employees drawn from Zenith Bank Plc (Zenith Bank Annual Report, 2022). A sample size of 380 was determined using Yamane’s formula (1967), and a stratified random sampling technique was employed. Data were collected using a structured questionnaire, tested for reliability using Cronbach’s Alpha (threshold of 0.70) and validated through expert review. Out of 380 questionnaires distributed, 301 were returned, giving a 79% response rate. Data were analyzed using regression analysis with SPSS version 26. The findings reveal that all three dimensions of diversity significantly and positively affect sustainable competitive advantage: workplace diversity (β = 2.489, p = 0.001, R² = 0.539), gender diversity (β = 0.821, p = 0.000, R² = 0.481), and religious diversity (β = 0.437, p = 0.000, R² = 0.567). This demonstrates that inclusive diversity management enhances innovation, improves decision-making, boosts employee morale, and strengthens organizational resilience. The study concludes that diversity management is not merely an ethical or compliance function but a strategic resource that fosters long-term competitive advantage in line with the Resource-Based View (RBV) theory. The study recommends that Zenith Bank should strengthen workplace diversity through inclusive recruitment, training, and collaboration programs; the study also recommended to enhance gender diversity by ensuring equitable representation in leadership and promoting mentorship and flexible policies.

Suggested Citation

  • AFOLAYAN, Michael Ayorinde & NWOKEDI, Chinenye & LAWAL, Oloyede Raheem & GABRIEL Olayinka Enoch & ABDULGANIYU,Toheeb Olayemi, 2025. "Effect of Diversity Management on Sustainable Competitive Advantage of Zenith Bank PLC, Lagos," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 9(14), pages 2304-2318, October.
    • Handle: RePEc:bcp:journl:v:9:y:2025:issue-14:p:2304-2318
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    References listed on IDEAS

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    2. Griffith, David A. & Harvey, Michael G., 2004. "The influence of individual and firm level social capital of marketing managers in a firm's global network," Journal of World Business, Elsevier, vol. 39(3), pages 244-254, August.
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