This study carried out a cross-industry analysis of regulatory change management strategies and businesses ability to adapt to regulatory changes across four sectors in Nigeria. By adopting a cross-sectional design, the study focused on financial services, pharmaceuticals/healthcare, energy, and telecommunications sectors. The target population for this study consists of 1,234 management-level staff across four major organizations in Nigeria representing their respective industries: GTBank in finance, Emzor Pharmaceutical Industries Ltd in healthcare, Jos Electricity Distribution in energy, and Globacom in telecom. A sample size of 302 respondents was calculated to represent the total population adequately. The study focused on four primary strategies for managing regulatory change: compliance management systems, risk assessment and mitigation, stakeholder engagement and advocacy, and operational flexibility. 302 questionnaires were issued out across the four sectors and organizations under consideration, while 259 questionnaires were retrieved. A general multiple regression analysis revealed that all four variables significantly influence adaptability, with compliance management systems (coefficient = 0.531, p-value = 0.000) and risk assessment and mitigation (coefficient = 0.475, p-value = 0.000) being the strongest predictors. The cross-sector comparative analysis highlights the relative importance of each variable across industries, with compliance management systems consistently ranking highest in most sectors, followed by risk assessment and mitigation, stakeholder engagement and advocacy, and operational flexibility. Stakeholder engagement and advocacy is particularly crucial in the Telecommunications sector, while operational flexibility plays a vital role in the Energy sector. The findings emphasize the need for organizations to adopt strategies that integrate these four key factors for enhanced adaptability. The study also contributes to the literature by offering insights into how these variables interact and affect organizational resilience in different industry contexts. Recommendations include prioritizing compliance initiatives, enhancing risk assessment practices, strengthening stakeholder engagement efforts, and improving operational flexibility across all sectors. The study further suggests that future research should explore the role of sector-specific challenges in shaping organizational adaptability strategies.
Dr. Habib Ese Enatto1* & James Tersoo Tsetim2 (Mon,) studied this question.