Citation:

Okegbemiro, S. A., Onu, C., Nwankwere, I.A. "Strategic Orientation Dimensions and Sustainable Reputation of Selected Upstream Oil and Gas Companies in Nigeria" International Research Journal of Economics and Management Studies, Vol. 3, No. 3, pp. 309-316, 2024.

Abstract:

The oil and gas sector in Nigeria has faced numerous issues and obstacles, such as environmental issues, regulatory demands, and socio-political intricacies, all of which impact its reputation. These include problems like environmental damage from oil spills, insufficient compliance with safety standards, and perceptions of mismanagement of resources. This accentuates the need for strategic orientation. Therefore, this study examined the effect of strategic orientation dimensions on sustainable reputation in the Nigerian upstream oil and gas businesses. The study adopted a survey research design. The population of the study comprised 13, 443 regular employees of eight O&G firms’ companies in Nigeria. The sample size of 748 was determined using Cochran’s sample size formula (1977) and a simple random sampling technique was adopted in selecting respondents. A structured, adapted and validated questionnaire was administered with Cronbach’s alpha reliability coefficient for the constructs ranging from 0.630 to 0.910. The response rate was 91.0%. The research hypothesis was tested using multiple regression statistics. The findings revealed that strategic orientation dimensions had a significant effect on sustainable reputation (Adj. R2=0.009, F(2. 671)= 3.916, p < 0.05). The study concludes that strategic orientation has a significant effect on sustainable reputation. In addition, only entrepreneurial orientation had a negative but significant effect, while market orientation and technology orientation had a positive yet insignificant effect on sustainable reputation. The study recommends that Upstream oil and gas companies should reassess their strategies to ensure they align with sustainability goals. This may involve incorporating environmental and social considerations into decision-making processes, implementing practices that reduce environmental impact, and demonstrating a commitment to corporate social responsibility initiatives.

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Keywords:

Entrepreneurial Orientation, Market Orientation, Technology Orientation, Strategic Orientation, Sustainable Reputations.