Enhancing Competitive Advantage: The Role of Self-Efficacy in Addressing Customer Loyalty and Delivery Dependability

The study posited that self-efficacy components play a significant role in determining the competitive advantage of Deposit Money Banks (DMBs). To quantitatively resolve this argument, survey research design was adopted for this study. The population comprised 4,871 employees of five selected Deposit Money Banks in Lagos State, Nigeria. The sample size of 462 was determined using the Cochran formula. Simple random sampling technique was adopted in selecting respondents. An adapted and validated questionnaire was used for data collection with Cronbach's alpha reliability coefficients for the constructs ranging from 0.75 to 0.93. Response rate was 89.4%. Data were analysed using descriptive and inferential (SEM) statistics at 5% significance level. The partial least squares structural equation modeling (PLS-SEM) analysis results revealed that self-efficacy components had positive and significant effect on competitive advantage of selected Deposit 2 2 Money Banks in Lagos State, Nigeria [Adj R = 0.262; F = 0.0288; SRMR = 0.062, NFI = 0.751, p < 0.05]. Thus, this study recommends that DMBs should prioritize initiatives aimed at cultivating a culture of self-efficacy among their employees by allocating resources towards continuous employee development.