Outsourcing effects on Organisational Perforemance in Nigerian Banking Industry; (A Study of Fidelity Bank PLC)

Outsourcing effects on Organisational Perforemance in Nigerian Banking Industry; (A Study of Fidelity Bank PLC)

Author by Dr. Margret Kabuoh

Journal/Publisher: Journal Of Advanced Studies In Economics And Public Sector Management

Volume/Edition: 2

Language: English

Pages: 1 - 12

Abstract

Out sourcing business was not popular until 1989 when it was introduced as a business strategy. Today in
Nigeria, most organization is practicing outsourcing activity in order to boost businesses. This paper
investigated the effects of outsourcing on organizational performance in Nigerian banking industry using
Fidelity bank Plc. as our study case. The survey research made use of both primary and secondary data. 33
out of 50 staff of the bank mainly Human resource department staff was interviewed via a simple but well
structure questionnaire. Texts, journals, and internet were reviewed for the secondary data. Percentage, &
regression analysis aided by statistical package for Social Scientist (SPSS) made the study analysis which
was confirmed with the T-test. Result exposed that outsourcing has significant relationship with bank
performance which consequently enhances competitive advantage. Recommendations stated thus;
Benchmarking and environmental scanning be used to guide strategic outsourcing, identification of
organizational challenges firstly before contracting a vendor. There is need for occasional review of vendor's
activities which may necessitate new contract. Open co-operative relationship as well as reward based
approach was recommended.


Other Co-Authors