BUSINESS PROCESS RE-ENGINEERING AND ORGANIZATIONAL PERFORMANCE A STUDY OF SELECTED COMMERCIAL BANKS IN SOUTH-SOUTH NIGERIA

Abstract

Globalization and intensive competitive environment compels organizations to move towards change adoption and innovation to gain and retain their selves in dynamic competitive region. Business process re-engineering is one of the most dominant strategic approaches to bring credible and radical change within organizations. Business process reengineering is widely acclaimed as a fundamental and indispensable management tool for achieving significant and revolutionary improvements in both performance and competitiveness. The core purpose of this study is to examine business process re-engineering and organizational performance – A study of selected commercial Banks in South-South Nigeria, namely, Eco Bank Plc, Sterling Bank, Unity Bank Plc, Access Bank Plc and Union Bank Plc. The study’s objectives includes (i) to ascertain the role Business process re-engineering play in organizational performance (ii) to determine if business re-engineering has significant impact on organizational profitability (iii) to determine if business process re-engineering reduces organization’s corporate loss. The study adopted the survey research design. The population of the study consisted of 151 managers of the five commercial banks in South Nigeria. All the members of the population were used as the sample size for the study. The instruments used in collecting data from the respondents was a questionnaire which was structured on a 5 point-like scale such as strongly agree, agree, undecided, disagree and strongly disagree. The data collected were analyzed statistically while the hypotheses were tested using Pearson-correlation co-efficient (r). The bivariate analysis was performed with the aid of the statistical package for social sciences (SPSS). The findings revealed that there is significant relationship exits 1 between commercial banks organizational performance in South-South Nigeria and business process reengineering. The study also found a significant correlation between the enhancement of corporate profit levels among commercial banks in South-South Nigeria and the implementation of business process reengineering and also discovered there exists a notable connection between business process re-engineering and corporate loss reduction of the commercial banks in south-south Nigeria. Based on these findings, it was concluded that business process re-engineering enhances the performance of South South commercial banks in Nigeria. Based on these findings and conclusion, it was suggested that commercial banks in south-south Nigeria should reinforce business process reengineering to improve business operations, re-engineering of new ideas into business enhances business performance especially in banking where competitiveness keeps improving form time to time, management of banks should focus their attention on rewarding and recognizing employees, involving them in decision making process, creating promotion and opportunity for growth while redesigning process will enhance their satisfaction and retention