The Role of Emotional Intelligence in Decision Making: A Study of First Bank Nigeria

Abstract

The fast-paced nature of the Nigerian banking industry, coupled with regulatory pressures, market volatility, and competitive dynamics have heightened stress levels and strain emotional resilience. In such environment, leaders may struggle to maintain composure, leading to impulsive or emotionally-driven decision-making rather than rational, strategic choices. Therefore, this study leverage Goleman’s emotional intelligence (EI) performance theory, and Mayer, Salovey and Caruso’s EI ability model to examine the role the role of emotional intelligence in decision making in First Bank Nigeria. The study employed a multiple-stage sampling method whereby ten (10) branches of First Bank within the Lagos metropolis were randomly selected initially. Subsequently, fifteen (15) employees from each of these ten (10) branches were chosen through random sampling. In total, the study included 138 respondents, and this puts the response rate at 92% of administered copies of questionnaire retrieved and found usable. Descriptive and inferential statistical methods were employed to analyze the collected data. The findings demonstrated a positive and significant relationship between emotional intelligence and effective decision-making, strategic decision-making, and effective team decision-making by managers. The study, therefore, recommends that management within the bank need to prioritize the development of an effective emotional resilience program, as this initiative is capable of cultivating a healthier and more emotionally intelligent leadership team, ultimately enhancing overall organizational performance.

Key Words: Effective decision-making, effective team decision-making, emotional intelligence, strategic decision-making