ABSTRACT
This research presents the results of the effects of strategic planning on organizational goals. The population for the study consists of 40 zenith bank workers which were randomly selected, Data were gathered using a self -constructed questionnaire and the result gotten was analyzed using the simple percentage method. The validity and reliability of instrument were ascertained. Data analyzed from the research shows that strategic planning has a positive effect on the attainment of organizational goals and also there is relationship between effective strategic planning and organizational performance in Zenith bank Plc. Therefore the study recommends that Nigeria firms should give more serious attention to strategic planning, separate other types of planning from strategic planning, endeavor to choose appropriate strategies that matches for every strategic plans and as well adopt and effectively implement the full tenets of strategic planning.
TABLE OF CONTENTS
CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY
1.2 STATEMENT OF THE PROBLEM
1.3 OBJECTIVES OF THE STUDY
1.4 RESEARCH QUESTIONS
1.5 SIGNIFICANCE OF THE STUDY
1.6 SCOPE OF THE STUDY
1.7 LIMITATION OF THE STUDY
1.8 DEFINITION OF TERMS
CHAPTER TWO
2.0 LITERATURE REVIEW
CHAPTER THREE
3.0 RESEARCH METHODOLOGY
3.1 INTRODUCTINTRODUCTION
3.2 RESESEARCH DESIGN
3.3 STUDY POPULATION
3.4 SAMPLE AND SAMPLING TECHNIQUE
3.5 DATA FOR THE STUDY: INSTRUMENTATION
3.6 METHOD OF DATA ANALYSIS
CHAPTER FOUR
4.0 DATA PRESENTPRESENTATATION AND ANALYSIS
4.1 INTRODUCTION
4.2 DATA ANALYSIS
CHAPTER FIVE
5.0 SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATION
5.1 SUMMARY OF FINDINGS
5.2 CONCLUSION AND RECOMMENDATION
5.3 LIMITATION
5.4 SUGGESTION FOR FURTHER STUDIES
REFRENCE
APPENDIX
CHAPTER ONE
1.0 INTRODUCTION
1.1 Background to the Study
Companies now operate in vastly competitive and nonlinear environment, the value of business lies increasingly in its ability to capture information and generate new idea. According to (Kotler 2009), “an idea that is no dangerous is hardly worth calling an idea”. The same can be said of strategic plan. A great plan provokes. It takes chances. This eventually attracts customers and the market to one’s brand. Therefore there is a need for effective strategy planning in an organization. In today’s competitive environment, every company has a plan, but firstly, we need to understand the concept of strategic planning.
Strategy is an overall approach and plan so strategy planning is an overall planning that facilitates the good management of a process. Strategy planning takes you outsides the day-to-day activities of your organization or project. It provides you with the big picture of what you are doing and where you are going.
Strategy gives you clarity about what you actually want to achieve and how to go achieving it, rather than a plan of action for day-to day operations.
Strategic planning consists of a set of underlying processes that are intended to create or manipulate a situation to create a more favorable outcome for a company. In business, strategic planning provides overall direction for specific unit such as financial focuses, projects, human resources and marketing.
Strategic planning can be defined as a broad managerial process of developing a vision, mission statement, goals and objectives with which to serve an influential guide to employees using the top bottom management approach (Warmer 2000).
Berry (2001) strategic planning is a tool for finding the best future for your organization and the best path to reach that destination.
Strategic planning can be defined as a process of using systematic criteria and rigorous investigation to formulate, implement and control strategy and formally document organizational expectations.
Strategic planning is an off-short of strategic management and is nowadays referred to as corporate planning.
Strategy management refers to the formulation and implementation of plans and the carrying out of activities. In short, it implies a set of activities relation to the formulation and implementation of strategies to achieve organizational objective.
According to Owolabi (2001), “Strategic management is the management process by which policies are formulated and strategies are selected to achieve the goals and objective of an organization”.
Strategy management is a disciplined approach utilizing the principal and process of management to identify the objective or mission of any business.
Strategic management process as the way in which strategists determine objective and make strategic decision. Strategic management’s main focus is the achievement of organizational goals taking into consideration the internal and external environment factors.
Planning is the process of establishing goals and objective and courses of action to attain them. Thy effective successful strategy is departed in structure, thus to effective economic performance the organization needs to alter it structure.
1.2 Statement of the Problem
Many organizations spend many of their time realizing and reacting to unexpected changes and problem instead of anticipating and preparing for them.
Research have made it clear that there is an increased internal and external uncertainty due to emerging opportunities and threats, lack of awareness of needs and of it facilities related issues and environment and lack of direction. This research study is to assess the effect of strategic planning or organizational performance, which at long run enhances organizational goal attainment.
Strategic planning is not only to bank but all other organizations for performance and goal from this scenario several issues rises in respect of strategic planning among which are stated below:
How do we identify factors which are core guide to strategic planning?
What is the effect of strategic planning in achieving organization goal?
What are the factors that led to insufficient attention given to strategic planning in an organization?
1.3 Objective of the Study
The objective of the study is to examine the effect of strategic planning in achieving organization goal attainment.
The objective is as follow:
1. To examine the effect of strategic planning in achieving organizational goals.
2. To find out the challenges affecting attainment of organizational goals
3. To see how strategic planning influence performance of the business organization.
1.4 Research Questions
1. What is the effect of strategic planning in achieving organizational goals?
2. What are the challenges affecting attainment of organizational goals?
3. How does strategic planning influence performance of the business organization?