STAKEHOLDER ANALYSIS AND COMPETITIVENESS OF PETROLEUM RETAIL OUTLETS IN PORT HARCOURT, RIVERS STATE, NIGERIA

Hamilton, D. I.

Department of Business Administration, Faculty of Administration and Management, Rivers State University, Nkpolu-Oroworukwo, Port-Harcourt, Nigeria

Lebura, S.

Department of Business Administration, Faculty of Administration and Management, Rivers State University, Nkpolu-Oroworukwo, Port-Harcourt, Nigeria

and

Sam-Boms, Fortune Chimgozirim

Department of Business Administration, Faculty of Administration and Management, Rivers State University, Nkpolu-Oroworukwo, Port-Harcourt, Nigeria

Email: samfortuneboms@gmail.com

ABSTRACT

This research examined the relationship between stakeholder analysis and competitiveness of petroleum retail outlets in Port Harcourt, Rivers State, Nigeria. The study adopted a correlational research design. The population of the study comprised of fifty (50) petroleum retail outlets in Port Harcourt, Rivers State, Nigeria that are registered with Petroleum Products Retail Outlets Owners Association of Nigeria, Rivers State branch. Primary data were collected through self-administered structured questionnaire. The instrument was validated through the supervisors’ scrutiny and approval. The internal reliability of the instrument was achieved through the Cronbach’s Alpha Coefficient with all items being above 0.70. However, after data coding, responses were used for data analysis. Spearman’s Rank Order Correlation was used for data analysis and hypothesis testing. The results showed that stakeholder analysis has a very strong positive and significant influence on market share of the petroleum retail outlets in Port Harcourt, Rivers State, Nigeria. We concluded that stakeholder analysis helps in the development of relationships and structures that facilitate competitiveness of the petroleum retail outlets in Port Harcourt, Rivers State, Nigeria. We affirmed that stakeholder analysis has a significant influence on market share of the petroleum retail outlets in Port Harcourt, Rivers State, Nigeria. We therefore recommended that management of petroleum retail outlets in Port Harcourt, Rivers State, Nigeria should endeavor to incorporate every aspect of stakeholder analysis in their daily operations as a means of gaining social legitimacy which greatly facilitates their continuous financial brand visibility activities.

Keywords: Stakeholder analysis, competitiveness, market share, brand visibility, stakeholder management.