Virtual Organization and Corporate Performance of Selected Oil and Gas Companies in Rivers State, Nigeria.
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VIRTUAL ORGANIZATION AND CORPORATE PERFORMANCE OF SELECTED OIL AND GAS COMPANIES IN RIVERS STATE, NIGERIA.
DON-BARIDAM LETAM QUEEN (Ph.D.)
Department of Management
Faculty of Management Sciences
Rivers State University
OBULOR, JULIUS NWAULIKPE (Ph.D.)
Senior Manager, Tariff &Billing Department
Delta Ports Complex
Nigerian Ports Authority.
The study investigated the relationship between virtual organization and corporate productivity of selected oil and gas companies in Rivers State, Nigeria. Efficiency, effectiveness and growth were adopted as dimensions of corporate productivity while virtual organization was seen as a uni-dimensional construct. The design adopted is the cross-sectional survey and data collection was carried out using the structured questionnaire from a total of 325 workers within the firms. The instrument’s validity and reliability were evaluated using Cronbach’s alpha, composite reliability, AVEs, and AVE square roots. The study’s hypotheses were tested using partial least squares-structural equation modeling (PLS-SEM). The result of the test of hypotheses revealed that adoption of virtual organization positively influences the measures of corporate productivity (efficiency, effectiveness and growth). It was therefore concluded that higher levels of virtuality will lead to higher levels of corporate productivity. The study recommends that managers in the target oil and gas organizations adopt virtual organizational design to ensure a high level of corporate productivity. Managers need to create remote work environments which will enable corporate executives to gain competitive edge and the organization to continually reinvent itself, resulting in a higher corporate productivity.
Keywords: Virtual organisation, corporate productivity, efficiency, effectiveness, growth.