STRATEGIC PLANNING AND ORGANIZATIONAL PERFORMANCE

  • Chapters:5
  • Pages:95
  • Methodology:Ordinary Least Square
  • Reference:YES
  • Format:Microsoft Word
(Business Administration and Management)
STRATEGIC PLANNING AND ORGANIZATIONAL PERFORMANCE
    ABSTRACT

This study was an investigation on Strategic planning and organizational performance. The objective of this study were to: investigate the relationship between strategic planning and organizational performance; to determine the impact of strategic planning on organisational performance; find out the performance of the organisational under study as a result of strategic planning.
The population of the study consisted of organisational in Nigeria. A sample size of twenty we're drawn from the top management of Benin Electricity Distribution Company (BEDC). Data collected were analysed using Descriptive statistics and ordinary least square technique through the employment of SPSS version (24.0).
The findings showed that strategic planning enhance organisational performance, it also showed that there is a positive & significant relationship between strategic planning & organisational performance, strategic planning also have a positive impact on organisation performance. On the bases of these findings, we recommended that BEDC should invest more in strategic plan because the cost of strategic plan is lesser than it's benefit, BEDC should engage other middle management in strategic planning in order to achieve effective human resource management.
   TABLE OF CONTENT
CHAPTER ONE: INTRODUCTION
1.1Background to the study
1.2 Statement of research problem
1.3 Objectives of the study
1.4  Research question
1.5 Research hypotheses
1.6 Scope of the study
1.7 Significance of the study
1.8 Limitations of the study
CHAPTER TWO: LITERATURE REVIEW
2.1 Introduction
2.2 Conceptual Review
2.2.1 Concept of organisational performance
2.2.2  Measures of organizational performance
2.2.3  Concept of strategic planning and organisational performance
2.2.4  Planning
2.2.5 Strategic planning
2.2.6 Component of strategic plan
2.2.7 Strategic planning model
2.2.8 Strategic planning process
2.2.9 Concept of strategic financial planning
2.2.10 Strategic planning and firm performance
2.2.11 Relationship between strategic planning and organizational performance
2.3 Theorical Literature
2.4 Empirical Review
CHAPTER THREE: METHODOLOGY
3.1 Introduction
3.2 Research design
3.3 Population of the study
3.4 Sample and sampling procedure
3.5 Sources of data
3.6 Research instrument
3.7 Method of Data analysis
CHAPTER FOUR: DATA ANALYSIS, PRESENTATION AND INTERPRETATION
4.1 Introduction
4.2 Descriptive statistics
4.3 Data presentation & analysis according to the research objectives
4.4 Testing Hypothesis
4.5 Decision of findings
CHAPTER FIVE: SUMMARY OF FINDINGS, CONCLUSION, AND RECOMMENDATIONS
5.1 Introduction
5.2 Summary of findings
5.3 Conclusion
5.4 Policy Recommendation
5.5 Contributions of knowledge
5.6 Suggestions for further studies
REFERENCES
LIST OF TABLES
Table 4.1 Response Rate
Table 4.2 Demographic information on respondent
Table 4.3 Relationship btw strategic planning and organisational performance
Table 4.4 Impact of strategic planning on organisational performance
Table 4.5 Internal Environmental factors
Table 4.6 Model Summary
Table 4.7 OLS estimation of strategic planning and organisational performance
CHAPTER ONE
INTRODUCTION
1.1   BACKGROUND TO THE STUDY
In today's changing environment, managers needs a great tools in order to gain greater advantage over their competitors. A large number of academic and practitioners takes strategic planning to be such a tool, and today's managers have to think strategically about their company's position and about the impact of changing conditions.
Business do not operate in a vacuum. It operates in an environment which changes constantly, which causes uncertainty about the future as new situations such as technological advancement, new societal trends, new economic forces arises everyday In order for a business to survive in such non static environment and therefore succeed in competitive markets, organizations must understand the changing situation  and accordingly put in place strategic measures. Strategic planning is the process of seeking a better match between a firm’s products or technology and its increasingly turbulent markets (Ansoff, 1970).
Strategic planning is a process of defining long-term objectives, identifying quantitative goals and objectives, developing strategies to achieve said objectives, and finding resources to implement those strategies.  One of the major purposes of strategic planning is to promote the process of adaptive thinking or thinking about how to attain and maintain firm environment alignment (Ansoff, 1991).
Strategic planning is said to be the process of understanding an organization’s external and internal environments, deciding on a vision and mission, developing overall goals, creating and selecting general strategies to be pursued, and assigning resources to achieve the organization’s goals. Its objective to align an organization’s activities with its environment, thereby providing for its continuing survival and effectiveness.  It is typically concerned with fundamental decisions about the future of the organization. Strategy planning talks about where the organization wants to be in the future and how it's going to get there. (Berry 1997).
Amit and Zott (2001) opine that strategic planning spells out the basic mission of the organization and decides the resources that will be used to accomplish the stated mission. It is the master plan of any organization from where all the departments in the organization derive their functions and directions.
Ansoff (1965) posed that in the process of effective strategic planning, an organization should be able to provide adequate answers to the following questions: what is our business?, what should our business be?, what will our business have to be in future?, what kinds of business should we seek to enter?, what are our goals and objectives?, how should we go about achieving them?
Strategic planning is therefore pertinent to the performance of an organizational, organizational performance is about creating values for the first-named persons designed to receive benefit (primary beneficiaries) in the organization. There are significant number of researches and more practical experiences in business prove that an efficient and effective strategic planning can increase profitability. Through strategic planning an organization is able to understand its major role in the society and this is its legitimacy to exist in the society with ultimate recognition by the tasks environment, Agbonifoh & Yomere (2008).
Mc Dougall & Robenson (1998), states that strategic planning is a function of organizational performance. Strategic planning is the function and pillar of any business venture, it identify the type of business to engage, who is our customer, what do they want? How do we satisfy them? What are the available resources and how do we allocate the resources efficiently and effectively? Research have it that organization taking a proactive strategic approach have better performance than those taking a reactive strategic approach.
1.2   STATEMENT OF THE RESEARCH PROBLEM
Quit a large number of organizations attribute their failure to lack of raw materials, shortage of funds, market situation and product rejection, but studies have it that lack of mission, vision and proper strategic planning is the main cause of their failures. Many practitioners consider strategic planning to be such tools that today's managers have to think strategically about their company position, where they are, where they are going, and how to get there. Over the years research has it that there is an increased internal and external uncertainty due to emerging opportunities and threats, lack of the awareness of needs and lack of direction cause many organization to fail.
Strategic planning calls for the attention of top management in the internal and external analysis of the business environment through the use of Strengths, Weakness, Opportunities and Threats (SWOT) analyses.
An understanding of the unique importance of strategic planning with respect to solving organizational problems and improving organizational performance which at the long run enhances organizational survival gave rise to this research study.
1.3    OBJECTIVES OF THE STUDY
The objectives of this study are:
To investigate the relationship between strategic planning and organizational performance.
To determine the impact of strategic planning on organizational performance
To find out the performance of the organization under study as a result of strategic planning.
1.4        RESEARCH QUESTIONS
Is there any significant relationship between strategic planning and organizational performance?
Does strategic planning have positive impact on organizational performance?
To what extent does strategic planning enhances organizational performance?
1.5   RESEARCH HYPOTHESES
H0 1: There is no significant relationship between strategic planning and organizational  performance
H0 2: Strategic planning does not impact positively on organizational performance
1.6   SCOPE OF THE STUDY
Knowledge possibilities are expansive. In order to ensure that a research investigation is directed and focused, every study has its own boundaries (Agbonifoh & Yomere, 1999). The scope of a study can be defined in various ways. It can be defined geographically, temporally and in terms of subject matter and the population.
This research work will focus on strategic planning and organizational performance using Benin Electricity Distribution Company (BEDC), Benin City, Edo State as a case study. A cross-sectional study will be done within the year 2018, considering the top management of BEDC, Edo State.  
1.7    SIGNIFICANCE OF THE STUDY
This research work will help organizations and managers to know and understand the importance of strategic planning on organizational performance.
Understanding these benefits on the side of the organizations, will enable them to achieve greater advantage in the market place, which will enhance organizational performance thereby leading to the survival of the organization.
1.8     LIMITATIONS OF THE STUDY
Although this study aimed to make a significant contribution to the body of knowledge on  Strategic planning and it's impact on organizational performance,  certain  areas  still  need  to  be explored or expanded.
Based on the outcomes of this research using only one company was a limitation of this study, since it is possible that the use of more respondents could  have  provided  a  different  picture  and  result  of  the impact of strategic planning. This study is nevertheless a step towards providing insight in the implantation of strategic plans in companies in Benin City.
Owing to the nature of the subject respondents, some reluctance were experienced from some respondents who are responsible for handling issues related to the matter under study.in terms of disclosing information with regards to their company. However the researcher assured the respondents of the confidentiality of the information that they provided and sought  authority  from  management  to  undertake  research  in  the  organization.

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Project Details

Department Business Administration and Management
Project ID BAM0721
Price ₦3,000 ($9)
Chapters 5 Chapters
No of Pages 95 Pages
Methodology Ordinary Least Square
Reference YES
Format Microsoft Word

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    Project Details

    Department Business Administration and Management
    Project ID BAM0721
    Price ₦3,000 ($9)
    Chapters 5 Chapters
    No of Pages 95 Pages
    Methodology Ordinary Least Square
    Reference YES
    Format Microsoft Word

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