OPEN-MINDEDNESS AND COMPETITIVE POSITION OF COMMERCIAL BANKS IN SOUTH-SOUTH, NIGERIA

Showoolu, O. K.

Department of Business Administration, Faculty of Administration and Management, Rivers State University, Nkpolu-Oroworukwo, Port Harcourt, Nigeria

E-mail: kelvin.showoolu@rsu.edu.ng

and

Justin M. O. Gabriel
Department of Business Administration, Faculty of Administration and Management, Rivers State University, Nkpolu-Oroworukwo, Port Harcourt, Nigeria

E-mail: gabriel.justin@ust.edu.ng

ABSTRACT

This study investigated the relationship between open-mindedness and the competitive position of commercial banks operating in South-South Nigeria. The study adopted a cross-sectional survey design and targeted senior staff across various licensed commercial banks within the region. A total of 226 structured copies of questionnaires were distributed, out of which 199 valid responses were retrieved and analyzed. Data were analyzed using descriptive statistics and Pearson’s Product Moment Correlation to test the hypothesized relationships. The findings reveal a significant positive relationship between open-mindedness and key indicators of competitive position; differentiation, and cost leadership. These results suggest that banks that encourage openness to new approaches, employee input, and market-driven innovation are more likely to sustain a favorable competitive edge. The study recommends that commercial banks institutionalize open-mindedness by fostering an internal culture that values continuous improvement, critical thinking, and strategic flexibility. This will enhance their ability to respond effectively to environmental changes and secure long-term competitiveness.

Keyword: Open-mindedness, competitive position, cost leadership, differentiation.