Stakeholders Management Indicators: The Business Sustainability Inference

Abstract

The study investigated the relationship between stakeholder relationship management and business sustainability indigenous oil and gas producing companies in Rivers State. The study population comprised of the ten (10) indigenous oil and gas producing companies operating in Rivers State. The research selected variated number of managers from each of the firms under study making it a total sample of sixty two (66) respondents. Data were generated from the respondents by the use of a close-ended structured questionnaire. Pearson’s product moment correlation, partial correlation and multiple regression were used to test the hypotheses with the aid of statistical packages for social science (SPSS) version 23.0. The p-values were calculated to determine the significance of the hypothesized relationship. Analytical outcomes revealed statistically positive and significant relationships between the dimensions of our predictor variable-stakeholder relationship management and the measures of the criterion variable-business sustainability. Based on the findings, the study concluded that stakeholder relationship management has a positive significant relationship with business sustainability of indigenous oil and gas producing companies in Rivers State. The study further recommended that Managers of indigenous oil and gas producing companies should capitalize on the pivot role of stakeholders’ interest in their operations to ensure their business sustainability; Managers of indigenous oil and gas producing companies should seek to build strong relationships with their host communities in line with their company policies and practices aimed at achieving business sustainability; Managers of indigenous oil and gas producing companies should apply objectivity in their employee relationship processes as this has the potency to either ruin or enhance their business sustainability