Conceptualisation of Management Efficiency in the Third-World Countries Managing Oil and Gas Sectors of the Economy: Ghana Perspective

Abstract

This research paper is a conceptual and theoretical presentation and analysis of existing sources of information relevant to the topic. It is an exploratory study to pave way for future quantitative studies. The discussion concluded that Ghana needs to be more robust when it comes to management efficiency in organisations. Transactions and government dealings must be well negotiated by officials as experts, and not as politicians. Experts look to the future and at the masses as a whole, whereas politicians take decisions that are more beneficial to them and their relations, and pretend that it is for the entire country. Therefore, political will power is a moderator between the oil and gas sector and management efficiency. Hence, a recommendation is made for future research to test the hypothesis and also establish how the relationships are correlated quantitatively. Ghana government has only a 4 year mandate to rule or govern, and therefore, they always rush discussions of negotiations and sign quick contracts in the oil and gas sector in a haste, just to score political points, without much consideration to the future. As a result, the international investors knows how to struck a deal with the Ghana governments in their favour and all these amounts to lack of management efficiency coupled with weaknesses in the constitution of Ghana.

Keywords: Management Efficiency, Oil and Gas Sector, Revenue, Political Will, Investors, Partners

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