IMPACT OF STRATEGIC PLANNING ON ORGANIZATIONAL PERFORMANCE

Anichebe, A.N and Chukwu, Bonaventure (2018) IMPACT OF STRATEGIC PLANNING ON ORGANIZATIONAL PERFORMANCE. GOUni Journal of Management and Social Sciences, 4 (1). pp. 11-22. ISSN 2550-7265

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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.

Item Type:	Article
Subjects:	H Social Sciences > H Social Sciences (General) L Education > L Education (General)
Divisions:	Faculty of Management and Social Sciences
Depositing User:	GOUNI ICT
Date Deposited:	14 May 2018 10:09
Last Modified:	14 May 2018 10:09
URI:	http://eprints.gouni.edu.ng/id/eprint/53

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