The effect of the global pandemic on the performance of mining companies: the role of strategic planning and management. (case study on newmont ghana)
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Date
2023
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KNUST
Abstract
The examined moderating role of strategic planning and management in the relationship between the global pandemic and the performance of mining firms. The study adopted a case study focused on Newmont Ghana limited. Probability sampling iii was used to draw a sample of one hundred and twenty-six respondents. Online questionnaires were used to gather data from these respondents. The model for the study was tested using both partial least square (PLS) structural equation modelling. The study revealed that, The Global Pandemic (COVID-19 negatively impacts Mining firm performance. Also, From the Study’s regression results, when Strategic Management and planning increase by one (1), Mining Firm Performance increases by 0.48%. Hence, Strategic Management and planning positively impact Mining firm performance. Finally, the study also finds that the relationship between The Global Pandemic (COVID-19) and Mining Firm Performance is not positively moderated by Strategic Management and planning. The study recommends that managers of Newmont’s mining operations should swiftly implement more mechanization and automation technology to reduce costs and increase productivity. This word increase Newmont Ghana's resistance to shocks such as COVID-19. Also, managers must identify the appropriate information and collaboration strategies to strengthen partnerships and increase the rate at which managers and employees share information and collaborate with internal departments and external partners to minimize and resolve disruptions and unanticipated impacts. Lastly, Newmont Ghana must collaborate with key sector players to build mining industry-specific business continuity strategies based on a comprehensive risk analysis to guarantee business continuity.
Description
A thesis submitted to the department of marketing and corporate strategy in partial fulfilment of the requirements of the award of the degree of master of business admin. Strategic management and consulting