IMPACT OF STRATEGIC PLANNING ON ORGANIZATIONAL PERFORMANCE
Abstract
The study seeks to examine the relevance of strategic planning in organizational performance in the Nigerian indigenous organizations. Research suggests that strategic planning is positively linked to organizational performance. Yet many organizations do not plan effectively. Strategy scholars disagree on the use of traditional African analytical approaches to planning in today’s dynamic business environment. Past planning and performance linkage studies focused on planning formally. But no empirical studies have examined the relationship between planning and performance in an unstable and volatile economic environment. To address this research gap a validated, multidimensional measurement model was used to assess the use of several strategic planning tools on the Nigerian indigenous organizations. The study ascertained that strategic planning is a top management job and a tool that provide guidelines in fulfilling a mission with maximum efficiency on organizations. In today’s turbulent business environment, managers increasingly need reliable navigational tools to achieve competitive advantage. In the past ten years strategic planning is well recognized by managers and the concept is ranked number one management tool in organization. Lack of commitment when implementing strategic planning has been identified as a barrier to successful implementation of strategic planning. The findings reveals that the adoption of strategic planning records significant changes in profitability level, high quality products, large customer patronage and increases in sales volume.References
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Benjamin, L. and Zimmerman, B. (1980). Top Management Strategy, New York, Simon Schuster Inc.
Bryson, J. M. (1996). Strategic Planning for Public and Non - Profit Organization, New York, Jossey-Bass Inc.
Chandler, A. D. (1962). Strategy and Structure, New York, American MIT Press.
Drucker, P. F. (1980). Practice of Management, Bungah, Chaucer Press.
Ejiofor, P. N, (1987). Endorsement of Strategic Planning, Lagos, University Press.
Haveman, E. (1993). Organizational Performance, New York, New York Press.
Hill, C.W.L. and Jones, G.R. (2001). Strategic Management: An Integrated Approach, Houghton Mifflin Company.
Ikono, N. (1990). Changing a Company's Strategy and Culture, New York, Long - Range Press.
Amit, R. and Zott, C. (2001). Value Creations in E-Business, Strategic Management Journal, Vol. 22, No. 6- 7, pp.493- 520.
Ansoff, H, I. (1987). Strategic Planning and Organization, California, Sloan Journal Review, Vol. 18, No.2, pp. 21 - 33.
Attanassiou, N. and Nigh, D. (1999). Impact of US Company on Top Management Team, USA, Strategic Management Journal, Vol. 20, No. 1, pp. 83-92
Bain & Co. (2001). Bight Years Survey, USA, Harvard Business Review, Vol. 3, pp. 42-49.
Banney, 3. B. (1991). Firms Resource and Sustained Competitive Advantage, Journal of Management, Vol. 17, No. 1, pp. 99 - 120.
Brown, R. L. and Bamford, C. E. (1998). Differences in Large and Small Firms, New York, Strategic Management Journal, Vol. 19, NO,8, pp. 709 -728.
Ghobadian, A. and O' Regan, N. (2002). Link Between Culture and Strategic Performance, Journal of General Management, Vol. 28, No. 1, pp. 16 -36.
Hoopes, D. G. and Postrel, S. (1999). Shared Knowledge, Strategic Management Journal, Vol.20, pp. 837 - 865.
Kenneth, A. (1965). Strategy is a Pattern, Harvard Business Review, Vol. 6, pp. 33-36.
Steiner, G.A. (1979) Strategic Planning, What Every Manager Must Know, New York, Macmillan Company.
Stainer, G. (1972). Strategic Factors in Business Success, New York, New York Press.
Steiner, G. (1979) Strategic Planning, New York, Free Press.
Scott, M. C. (2000). Re-inspiring the Cooperation, New York, John Wiley and Sons Limited.
Teece, D. and Scendel, L. (1995). Fundamental Issues in Strategy, New York, Harvard Business School Press Boston.
Tregoe, B. and Zimmerman (1980). Strategic Management and Top Management, New York, Simon and Schuster Inc.
Thompson, J. L. (2001). Understanding Corporate Strategy, Great Britain, Gray Publications
Weick, K. E. (1979). The Social Psychology of Organization, New York, Addison-Wesley Inc
Welch, J. (2000). Vision led Leadership and Strategic Work, New York, New York Press.
Alder, B. (1994). Strategic Planning Concern, Sloan Management Journal, Vol.7, No. 1, pp. 37-42
Ireland, R. D. and Hitt, M. A. (1999). Achieving and Maintaining Strategic Competitiveness in the 21st Century: The Role of Strategic Leadership Academy of Management Executives
Kanter, R. M. (2001). Succeeding in the Digital Culture, Chicago, Harvard Business School Press.
Kuye, O. L. (2004). Management Concepts and Process, Lagos, Harry-Dons Ventures
Lybrand, N. (1997). How to Innovate with Truth and Passion, London, Coopers and Lybrand.
Mc Carthy (1987). Safe Horizon, New York, New Press.
Mucller, R. and Naffziger W. (1999). Strategic Planning in small Business, Chicago, SBE Conference San Diego CA.
Porter, M. E. (1980). Competitive Strategy, New Jersey, Free Press
Osaze, E. B. (1991). Nigerian Corporate policy and Strategic
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Robbins, S. P. and Coutlar (1996). Management principles. New Jersy, Prentice Hall Inc.
Royal, D. (1997). Dutch research, London, Degenus Inc
Rue, L. W. and Byar, L. L. (2002). Management skills and Application, New York, McGraw-Hill Co. Inc.
Kochhar, R. and David, P. (2006). Institutional Investors and Firms Innovation. Strategic Management Journal, Vol. 17, No. 1.pp 73-84.
Leonard, D. Stratus, S. (1997). Putting your company’s whole brain at Work, Harvard Business Review, Vol. 75, No. 4pp 111-121.
Lindell, M. (1997). Global Strategies of U.S. European Management Journal, Vol. 15, No. 1. Pp. 99-101.
McDougall, P. P. and Robinson, K. C. (1998). Impact of alternative Operations of Industry, Strategic Management Journal, Vol. 19. No. 11. Pp. 1079-1100.
Mills and Friesen (1994). External Environmental factors, New York, Strategic Management Journal Vol. 30. Pp.28.
Mintzberg, H. (1994). Strategic Management and Sturcture. Strategic Management Journal, McGrill University Press, Vol. 6, No.3, pp. 257-272.
Murray and Kotabe (1998). Sourcing strategies of US. Service companies, Strategic Management Journal, Vol. 20, No. 9. Pp. 791-809.
Nwachukwu (1988). Strategic Planning and Organizational Performance, New York, Sloan Strategic Management Journal, Vol. 5,p. 38.
Ramaruijam, V. and Venkatraman, N. (1986). Effectiveness of Strategic Planning. Academy of management journal, vol. 29. Pp. 347-373.
Rudin (2010). Journal of Harvard Business School. Harvard Review Journal
Robert, P. W. (1999). Product innovation, Product-Market competition and persistent profitability in the US Pharmaceutical Industry, Strategic Management Journal vol 20, No. 7.pp 655-670.
Stuart, T. E. and Podolny J. M. (1996). Evolution of Strategic Management Technological Capabilities. Strategic Management Journal, Vol. 17. No. 1, pp. 21-38.
Stopford, J. (2001). Should strategy Makers become dream weavers. Harvard Business Review, Vo. 79. No. 1. Pp. 165-169.
Benjamin, L. and Zimmerman, B. (1980). Top Management Strategy, New York, Simon Schuster Inc.
Bryson, J. M. (1996). Strategic Planning for Public and Non - Profit Organization, New York, Jossey-Bass Inc.
Chandler, A. D. (1962). Strategy and Structure, New York, American MIT Press.
Drucker, P. F. (1980). Practice of Management, Bungah, Chaucer Press.
Ejiofor, P. N, (1987). Endorsement of Strategic Planning, Lagos, University Press.
Haveman, E. (1993). Organizational Performance, New York, New York Press.
Hill, C.W.L. and Jones, G.R. (2001). Strategic Management: An Integrated Approach, Houghton Mifflin Company.
Ikono, N. (1990). Changing a Company's Strategy and Culture, New York, Long - Range Press.
Amit, R. and Zott, C. (2001). Value Creations in E-Business, Strategic Management Journal, Vol. 22, No. 6- 7, pp.493- 520.
Ansoff, H, I. (1987). Strategic Planning and Organization, California, Sloan Journal Review, Vol. 18, No.2, pp. 21 - 33.
Attanassiou, N. and Nigh, D. (1999). Impact of US Company on Top Management Team, USA, Strategic Management Journal, Vol. 20, No. 1, pp. 83-92
Bain & Co. (2001). Bight Years Survey, USA, Harvard Business Review, Vol. 3, pp. 42-49.
Banney, 3. B. (1991). Firms Resource and Sustained Competitive Advantage, Journal of Management, Vol. 17, No. 1, pp. 99 - 120.
Brown, R. L. and Bamford, C. E. (1998). Differences in Large and Small Firms, New York, Strategic Management Journal, Vol. 19, NO,8, pp. 709 -728.
Ghobadian, A. and O' Regan, N. (2002). Link Between Culture and Strategic Performance, Journal of General Management, Vol. 28, No. 1, pp. 16 -36.
Hoopes, D. G. and Postrel, S. (1999). Shared Knowledge, Strategic Management Journal, Vol.20, pp. 837 - 865.
Kenneth, A. (1965). Strategy is a Pattern, Harvard Business Review, Vol. 6, pp. 33-36.
Steiner, G.A. (1979) Strategic Planning, What Every Manager Must Know, New York, Macmillan Company.
Stainer, G. (1972). Strategic Factors in Business Success, New York, New York Press.
Steiner, G. (1979) Strategic Planning, New York, Free Press.
Scott, M. C. (2000). Re-inspiring the Cooperation, New York, John Wiley and Sons Limited.
Teece, D. and Scendel, L. (1995). Fundamental Issues in Strategy, New York, Harvard Business School Press Boston.
Tregoe, B. and Zimmerman (1980). Strategic Management and Top Management, New York, Simon and Schuster Inc.
Thompson, J. L. (2001). Understanding Corporate Strategy, Great Britain, Gray Publications
Weick, K. E. (1979). The Social Psychology of Organization, New York, Addison-Wesley Inc
Welch, J. (2000). Vision led Leadership and Strategic Work, New York, New York Press.
Alder, B. (1994). Strategic Planning Concern, Sloan Management Journal, Vol.7, No. 1, pp. 37-42
Ireland, R. D. and Hitt, M. A. (1999). Achieving and Maintaining Strategic Competitiveness in the 21st Century: The Role of Strategic Leadership Academy of Management Executives
Kanter, R. M. (2001). Succeeding in the Digital Culture, Chicago, Harvard Business School Press.
Kuye, O. L. (2004). Management Concepts and Process, Lagos, Harry-Dons Ventures
Lybrand, N. (1997). How to Innovate with Truth and Passion, London, Coopers and Lybrand.
Mc Carthy (1987). Safe Horizon, New York, New Press.
Mucller, R. and Naffziger W. (1999). Strategic Planning in small Business, Chicago, SBE Conference San Diego CA.
Porter, M. E. (1980). Competitive Strategy, New Jersey, Free Press
Osaze, E. B. (1991). Nigerian Corporate policy and Strategic
Management, Ikeja, Centre for Management Development.
Robbins, S. P. and Coutlar (1996). Management principles. New Jersy, Prentice Hall Inc.
Royal, D. (1997). Dutch research, London, Degenus Inc
Rue, L. W. and Byar, L. L. (2002). Management skills and Application, New York, McGraw-Hill Co. Inc.
Kochhar, R. and David, P. (2006). Institutional Investors and Firms Innovation. Strategic Management Journal, Vol. 17, No. 1.pp 73-84.
Leonard, D. Stratus, S. (1997). Putting your company’s whole brain at Work, Harvard Business Review, Vol. 75, No. 4pp 111-121.
Lindell, M. (1997). Global Strategies of U.S. European Management Journal, Vol. 15, No. 1. Pp. 99-101.
McDougall, P. P. and Robinson, K. C. (1998). Impact of alternative Operations of Industry, Strategic Management Journal, Vol. 19. No. 11. Pp. 1079-1100.
Mills and Friesen (1994). External Environmental factors, New York, Strategic Management Journal Vol. 30. Pp.28.
Mintzberg, H. (1994). Strategic Management and Sturcture. Strategic Management Journal, McGrill University Press, Vol. 6, No.3, pp. 257-272.
Murray and Kotabe (1998). Sourcing strategies of US. Service companies, Strategic Management Journal, Vol. 20, No. 9. Pp. 791-809.
Nwachukwu (1988). Strategic Planning and Organizational Performance, New York, Sloan Strategic Management Journal, Vol. 5,p. 38.
Ramaruijam, V. and Venkatraman, N. (1986). Effectiveness of Strategic Planning. Academy of management journal, vol. 29. Pp. 347-373.
Rudin (2010). Journal of Harvard Business School. Harvard Review Journal
Robert, P. W. (1999). Product innovation, Product-Market competition and persistent profitability in the US Pharmaceutical Industry, Strategic Management Journal vol 20, No. 7.pp 655-670.
Stuart, T. E. and Podolny J. M. (1996). Evolution of Strategic Management Technological Capabilities. Strategic Management Journal, Vol. 17. No. 1, pp. 21-38.
Stopford, J. (2001). Should strategy Makers become dream weavers. Harvard Business Review, Vo. 79. No. 1. Pp. 165-169.
Published
2016-06-01
How to Cite
ANICHEBE, N A; CHUKWU, Bonaventure.
IMPACT OF STRATEGIC PLANNING ON ORGANIZATIONAL PERFORMANCE.
GOUNI Journal of Management and Social Sciences, [S.l.], v. 4, n. 1, p. 11-22, june 2016.
ISSN 2550-7265. Available at: <http://journal.gouni.edu.ng/index.php/fmss/article/view/9>. Date accessed: 14 may 2018.
Issue
Section
Articles
Keywords
Competitive Advantage; Environments; Organizations; Strategy
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