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| Corporate Strategy and Performance of Oil and Gas Companies in Nigeria |
Ndubuisi-Okolo Purity(Ph.D), Ogochukwu Okafor(Ph.D), Oyakhire Victor Alaba
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Abstract:
The study examined the influence of corporate strategy on performance of oil and gas companies in Nigeria. The objective of the study was to establish the relationship of product diversification strategy on operational efficiency. The study was guided by resource based theory. The study adopted a survey research design. The targeted population was 813 respondents, drawn from four oil and gas companies in Nigeria. A sample of 268 respondents was chosen using Taro Yamane's formula, while bowley's method of allocation was used to determine the copies of questionnaire to be distributed to each firm. Primary data was collected with the aid of questionnaire. The data were analyzed using descriptive statistics, while the hypothesis was tested using Pearson's coefficient correlation analyses with the aid of statistical package for social sciences (SPSS). The results were presented in tables for easy analysis. The finding revealed that corporate strategy has a positive influence on oil and gas companies' performance in Nigeria. The study recommended that the various oil and gas companies need to strategically continue to engage in product diversification strategy in order to enhance operational efficiency.
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