IIARD International Institute of Academic Research and Development

IIARD International Journal of Economics and Business Management (IJEBM )

E-ISSN 2489-0065
P-ISSN 2695-186X
VOL. 5 NO. 3 2019

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The Effect of Risk Mitigation Strategy on Sales Performance of Petroleum Marketing Firms in the Downstream Sector of the Petroleum Industry in Nigeria

Owuso, Stephen Monima & Poi, Elizabeth

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Abstract

The paper examined the effect risk mitigation on sales performance of petroleum marketing firms in Nigeria. The purpose of the study was to evaluate the associations between risk mitigation strategies and sales performance. The study proposed a risk mitigation model with risk mitigation as the predictor variable while sales performance as the criterion variable with profit and sales growth as measures of the criterion variable the descriptive research design was adopted for the study while, the Pearson Product Moment correlation was used to test the proposition. The study revealed risk mitigation strategy positively affect profit, while risk mitigation strategy did not have any significant effect on sales growth. The study recommends Petroleum marketing firms analyze the identified risk and ensure that they deploy a strategy that best suit the peculiar situation of risk identified.

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