Strategy Implementation, Ambidextrous Marketing Capability and Deposit Money Banks’ Performance in Lagos State, Nigeria

The Nigerian banking sector faces persistent challenges, including high non-performing loans, regulatory constraints and economic volatility which hinder the performance of Deposit Money Banks (DMBs). This study investigates the moderating effect of ambidextrous marketing capability on the relationship between strategy implementation (strategic planning, organizational structure, work systems, monitoring and evaluation) and organizational performance in selected DMBs in Lagos State, Nigeria. The study employed a cross-sectional survey design, data were collected from 381 management staff across six publicly quoted banks and analyzed using Partial Least Squares Structural Equation Modelling (PLS-SEM). The findings reveal that strategy implementation significantly impacts organizational performance, explaining 51.7% of the variance (Adjusted R² = 0.517). Additionally, ambidextrous marketing capability positively moderates this relationship (β = 0.087, t = 2.098, p < 0.05), emphasizing its importance in navigating a dynamic and uncertain banking environment. This study highlights the need for DMBs to integrate ambidextrous marketing strategies to enhance exploration and exploitation efforts, improving operational efficiency and market resilience. Recommendations include refining strategic planning and work systems while adopting ambidextrous marketing practices to sustain competitive advantage and foster long-term growth.