Managerial perspective on the impact of globalization in an African commercial bank : Implications for strategy implementation

Purpose – The purpose of this paper is to investigate the perceived impact of globalization amongst Nigerian bank managers and professionals. Managerial and organizational cognition (MOC) literature is used to evaluated perceptions of impact. Design/methodology/approach – The paper adopts a survey methodology to gather the information needed to achieve the objectives of the paper. Descriptive statistics and statistical analyses are used to evaluate various relationships. Findings – Respondents view the outcome of globalization as unfair. They also view globalization as endangering the economy and cultural values of Nigeria. However, they see the benefits of globalization in terms of transfer of good management and business practices as well as flow of foreign direct investment. They also seem to believe that globalization is open enough to accommodate other economic and political systems. However, they also believe that globalization hinders nation states to formulate polices favourable to the economy. Similarly, the majority do not believe that the world will be a better and fairer place if all countries adopt the philosophy and principles underpinning globalization. Research limitations/implications – Managers' interpretation of the impact of globalization can influence their decisions and ultimately organizational strategy. Depending on the perceived benefits of globalization, managers who can influence government policy would try to lobby against excessive liberalization that might affect their local market position. Originality/value – There is an attempt to link macro‐ and micro‐dimensions of globalization research. A multidisciplinary approach opens up the possibility for researchers from management discipline and other disciplines (e.g. economics, sociology and politics) to team up and study globalization. Future research should adopt both a quantitative and qualitative methodology. For example, the use of in‐depth interviews should reveal more information on how respondents perceive the impact of globalization on values and beliefs. Future studies should also target policy makers and senior executives across industries and the non‐governmental organization sector.