Title: Benchmarking Culture and Organizational Sustainability of Oil and Gas Companies in Port Harcourt, Rivers State
Authors: Macaulay Enyindah Wegwu
Volume: 9
Issue: 4
Pages: 327-336
Publication Date: 2025/04/28
Abstract:
This study examined the relationship between benchmarking culture and organizational sustainability of oil and gas companies in Port Harcourt, Rivers State. The problem of the research hinged on the inability of oil and gas companies to adapt best industry practices of eliminating the process of trial and error, enhancing efficiency of developing new products and improving customer satisfaction by identifying, understanding, and adapting good practices of other organizations which improves the performance of organizations. In solving this research problem, four research hypotheses were formulated in their null forms that were empirically tested to achieve four specific objectives of the study. The cross-sectional survey method was adopted, and a population of four hundred and thirty seven (437) employees of 7 oil and gas firms in Port Harcourt, Rivers State made up the study subjects. Sample size of two hundred and eight (208) employees were drawn from the population. The simple random sampling technique was used in this study. Data were collected from respondents using copies of structured questionnaire. The retrieved copies of the research instrument were analyzed using Spearman's rank order correlation coefficient. The result revealed that there is a significant positive relationship between the dimensions of benchmarking culture (continuous improved mentality and organizational learning) with organizational sustainability. The study concluded that benchmarking culture is critical in achieving and improving sustainability of oil and gas firms in Rivers State. As a consequence, the study recommended among others that management of oil and gas companies should implement a structured system for capturing, analyzing, and implementing feedback from continuous improvement initiatives to optimize operational processes and reduce costs, thereby enhancing economic sustainability.