OUTSOURCING STRATEGY AND PERFORMANCE OF MONEY DEPOSIT BANKS IN ANAMBRA STATE, NIGERIA

Abstract

The study investigated the relationship between outsourcing strategy and performance of money deposit banks in Anambra state, Nigeria. The study employed descriptive survey design. study included the management and employees of money deposit banks currently operating in Anambra State. The total population of the study is 435 which include the management and staff of selected money deposit banks in Anambra State. Taro Yamane formula was used to determine the sample size of 162.  The structured questionnaire was used to collect data from the respondents. Bio data were analyzed using simple frequency and percentage tables while data relating to research questions were analyzed using arithmetic mean. Hypotheses were tested using Pearson Product Moment Correlation Coefficient and Simple Regression with the aid of Statistical Packages for Social Science (SPSS).Findings revealed that there is significant relationship between outsourcing strategy and performance of selected Banks in Awka, Anambra state by indicating positive relationship between business process outsourcing strategy and task accomplishment; also, information technology outsourcing strategy has a significant  positive effect on customer satisfaction. The study concluded that outsourcing strategy supports bank operations as it guarantees quality services by banks and as cover the weak aspect of the organization. The study recommended that there is need to outsource other weak aspect of business to experts rather than managing the areas as it will contribute to timely task accomplishment and quality service delivery.