WORKPLACE INNOVATION STRATEGY AND TECHNOLOGICAL ADVANCEMENT AMONG COMMERCIAL BANKS IN PORT HARCOURT

Abstract

This study examined the relationship between workplace innovation strategy and technological advancement of commercial banks in Port Harcourt. Objectives of the study were to examine how blue ocean strategy enhances online banking and mobile banking app of commercial banks in Port Harcourt. The study adopted the cross sectional survey research design. The target population for this study comprised of 66 managers from 22 commercial banks in Port Harcourt, which was purposefully adopted as the sample size. Data were collected through primary (questionnaire). A structured questionnaire designed in a modified four point likert scale format was adopted for the collection of data. Spearman Ranking (r) was used for the test of hypotheses via SPSS Version 25.0. Findings revealed that there is a significant relationship between blue ocean strategy and technological advancement of commercial banks in Port Harcourt. The study concluded that workplace innovation strategy enhance technological advancement. The study recommended among others that commercial banks should create a leap in value for both customers and the bank itself. This can be achieved by identifying the factors that customers value most in online and mobile banking services and innovating to deliver those factors in a unique and differentiated way.