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Pyrex Journal of Business and Finance Management Research

September 2016 Vol. 2(8), pp. 81-88

ISSN: 2985-8860

Copyright 2016 Pyrex Journals




Full Length Research Paper


Business Agility and Competitive Advantage of Selected Commercial Banks in Anambra State, Nigeria


Hope N. Nzewi* and Patrick Moneme

Department of Business Administration, Nnamdi Azikiwe University, Awka, Nigeria.

Corresponding Author E-mail: hn.nzewi@unizik.edu.ng

Accepted 11th August, 2016



Abstract


The unpredictable and competitive business environment of today is forcing organizations not only to adapt to changes when they occur, but also to proactively predict the changes before they emerge in the marketplace. These changes have resulted in the evolution of thebusiness agility concept which equips organizations with the capability to compete and thrive in an unstable business environment by quickly detecting, seizing opportunities, and tackling threats. Consequently, this study examined the relationship between business agility and competitive advantage of selected banks in Awka Metropolis. To achieve the objective of the study, a model was specified and business agility operationalized by Proactiveness, Responsiveness, Competence, Flexibility, and Speed. The descriptive research design was employed. Data was obtained from primary sources and analyzed using Principal Component and Multiple Regression Analysis. The result of the analysis revealed a significant relationship between business agility and competitive advantage of the selected banks. However, Flexibility and Competence were found not to be statistically significant, while Proactiveness, Responsiveness, and Speed were significant. From the finding, the study concluded that business agility is that unique capability that assures competitive advantage in a rapid and unpredictable business environment. It is recommended that managers should develop competitive strategies that hinge on business agility, sensing and responding capabilities aligned to swiftly uncover new market opportunities.

Keywords: Proactiveness, Responsiveness, Competence, Flexibility, Speed.

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