OLLORNWI Prince1,
OKWANDU Gabriel A.2, HAMILTON-IBAMA Lolia Edith-Onajite3
1, 2, 3 Department of Marketing, Faculty of Administration and Management
Rivers State University Nkpolu-Oroworukwo, Port Harcourt.
Abstract
This study examined the relationship between organizational readiness and operational efficiency of oil and gas servicing companies in Rivers State. The objectives of the study was to determine how organizational readiness relates to cost reduction, enhanced productivity and customer satisfaction, as measures of operational efficiency of oil and gas servicing companies in Rivers State. The study adopted a descriptive design. The population of the study consisted 304 oil and gas servicing companies. A sample size of 173 was derived using Taro Yemane’s formula for sample size determination. Primary data was collected using questionnaire. The hypotheses formulated to guide the study were tested using Pearson’s Product Moment Correlation. The findings revealed a strong positive relationship between organizational readiness and measures of operational efficiency (cost reduction, enhanced productivity, customer satisfaction) of oil and gas servicing companies in Rivers State. The study concluded that organizational readiness contributes significantly to operational efficiency of oil and gas servicing companies in Rivers State; and recommends that management of oil and gas servicing firms in Rivers state that seek to improve their operational efficiency in terms of cost reduction, enhanced productivity and customer satisfaction should always be prepared to effectively implement new initiatives, adapt to change, and respond to industry challenges.
Keywords: Cost reduction, customer satisfaction, enhanced productivity, operational efficiency, organizational readiness.