Date of Conferral



Doctor of Business Administration (D.B.A.)


Business Administration


Gene E. Fusch


Rapid and sustained fluctuations in the crude oil market have remained a threat to the financial performance of national and multinational oil and gas corporations. Such fluctuations can reduce the profitability of national and multinational oil and gas corporations. The purpose of this qualitative descriptive single case study was to explore strategies oil production leaders used to maintain profitability when crude oil prices fluctuate. The participants included 6 senior oil production leaders in a national oil corporation in Ghana who employed successful strategies to maintain profitability. Kraus and Litzenberger’s trade-off theory of capital structure served as the conceptual framework for the study. Data collection methods included semistructured interviews, company documents, direct observation, and a reflective journal. Based on the methodological triangulation and the use of thematic data analysis technique, 3 broad themes emerged: relating to enhancing operational efficiency through organizational restructuring and competitive oil price hedging, business portfolio diversification through effective asset management and innovative technologies, and optimization of capital structure through debt restructuring. Oil production leaders would have to embrace the growth of artificial intelligence and the Internet of Things to improve the efficiency of business operations and maintain profitability. Oil production leaders might apply these findings to enhance business continuity, avoid bankruptcy, and maintain profitability during oil price downturns. Maintaining profitability would help ensure employees’ job security and flow of income. Sustained income would benefit employees and their families and could have a positive social impact on employees’ local communities.