Strategic Sensitivity and Firm Competitiveness in Selected Deposit Money Banks in Uyo, Akwa Ibom State

Abstract

Strategic sensitivity is keeping connections with a number of different people and organizations in order to be as open to information, intelligence, and innovations as feasible. The aim of the study was to examine the relationship between Strategic Sensitivity and Firm Competitiveness of Deposit Money Banks in Akwa Ibom State. three research hypotheses were formulated to guide the conduct of the study. The survey research design approach was adopted for the study. The target respondents were staffs of 11 Deposit Money Banks operating within the study area. A sample size of 180 employees were adopted for this study and were assessed using the systematic sampling technique. The main data used were from primary sources gathered with the use of a likert scaled questionnaire. Data gathered were analyzed with the Pearson’s Product Moment Correlation (PPMC) Analysis at a 0.05 significant level. It is concluded that there is a significant relationship between strategic sensitivity and firms’ competitiveness. Since the relationship of strategic sensitivity is significant, it is a good predictor of firm’s competitiveness. It is recommended that Deposit Money Banks in Uyo, Akwa Ibom State need to build strong capabilities. Have the strategic foresight, proactivity and adaptability and flexibility to analyze the dynamic business environment and constantly in addition to mitigation strategies, carefully analyze opportunities and threats. Lower production costs than other competitors.