Mixed-methods research shows internal business process efficiency boosts financial performance in Ghana, highlighting the need for management support.
Abstract Background Despite the widespread use of the Balanced Scorecard (BSC), the direct impact of internal business process efficiency rooted in learning and growth metrics on financial and market performance remains underexplored in emerging economies. Methods This study employed an explanatory sequential mixed-methods design. Quantitative data from 240 employees across Ghana’s oil, gas, and telecom sectors were analysed using partial least squares structural equation modelling (PLS-SEM). Follow-up qualitative interviews with 15 managers provided the contextual information. Results Internal process efficiency showed strong positive effects on ROA (β = 0.576, t = 11.33, p < .001) and market share (β = 0.492, t = 8.47, p < .001). Management support did not significantly moderate these relationships. Qualitative findings suggest that decentralised processes diminish the need for active managerial intervention. Conclusion Operational excellence independently drives financial and market performance in Ghana’s resource-intensive sector. Process automation, lean management, and empowered teams are critical. Policymakers should incentivise technology adoption and workforce capacity building. Future studies should investigate longitudinal and cross-sector dynamics.
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Yakubu et al. (2025) studied this question.
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