MONITORING AND EVALUATION AS COMPETITIVE STRATEGIES OF THE LICENSED COCOA BUYING COMPANIES (LBCs) IN GHANA: A CASE STUDY OF OLAM GHANA COMPANY LTD

Abstract

The study was aimed at accessing monitoring and evaluation as a competitive strategies adopted by the Licensed Buying Companies in the cocoa industry in Ghana with a special focus on the OLAM Ghana Limited. The main objectives of the study were to analyze the current competitive strategies being pursued by the company, examine the impact of monitoring and evaluation on the performance of the company, examine the likely challenges the company might face in their quest to implement monitoring and evaluation and to make recommendations to improve the company’s strategic competitive advantage in the industry. The review of literature was related, among other issues, to the concepts of strategy, competitive strategies and competitive advantage and how they have been used to impact on performance as well as concept of monitoring and evaluation. For this research the methods employed were by survey and interviews. The instrument used for collection of relevant data for the study was a questionnaire and the semi-structured interview approach. Questionnaires were given out to both staff and farmers at the selected purchasing centers of OLAM. A sample size of two hundred (200), comprising thirty (30) staff and one hundred and seventy (170) farmers of the targeted population. The non-probability sampling method of random sampling, specifically, the purposive sampling technique was used. Data collected were collated and analyzed using both quantitative and qualitative methods of analysis. Findings indicated that OLAM has adopted the cost leadership strategy which has had a significant impact on general performance, increased market shares, corporate image and profitability. Lack of monitoring and evaluation were identified as bottlenecks in the company’s bid to attain higher competitive advantage. Recommendations made include the need for OLAM to adopt adequate monitoring strategy, establish corporate strategy and public relations departments, and computerize the company’s operations and many others.