Strategic Planning and Performance of Enterprises in Nigeria
- November 1, 2019
- Posted by: RSIS
- Categories: IJRISS, Social Science
International Journal of Research and Innovation in Social Science (IJRISS) | Volume III, Issue X, October 2019 | ISSN 2454–6186
Strategic Planning and Performance of Enterprises in Nigeria
Maryam A. Koko, Nasiru Liman Zuru
Faculty of Management Sciences, UsmanuDanfodiyo University Sokoto, Nigeria
Abstract: – Regardless of the relevance and applicability of strategic planning practice to business organisation, the literature indicates very few studies have attempted to investigate the effect of strategic planning practice on the performance of enterprises mainly the relationship between strategic planning practice and performance of entrepreneurs. The literature suggests that there is not only limited information on the strategic planning practice of Enterprises but also little research in this important area of study. By using structural questionnaires, the data for the study were collected from 52 Enterprises. The findings of the study indicate a significant positive relationship between strategic planning practice and performance of Enterprises. The result of the study seems to demonstrate that the practice of strategic planning in Enterprises will not only be to improve their financial performance but also to increase its non-performance as well.
Keywords: Strategic planning, Enterprises, Performance.
I. INTRODUCTION
Strategic planning practice has gained much recognition and acceptance as sound management practice as well as a process for improving organisational performance not only in the financial institutions but also business organisations at whole. Over the years, practitioners, consultant and scholars focus more intensively on strategic planning practice due to the pressure that require the financial institutions to offer better and new services to their clients. Strategic planning practices do not only improved organisational performance, but also found that managers that practice strategic planning with greater passion outperformed those that planned with less passion.
Even though a strategic planning practice has received much attention in recent years, but limited research emphasis has been given to investigate its relationship to organisational performance. The literature reveals limited empirical studies have attempted to examine the relationship between strategic planning practice and organisational performance, specifically among Enterprises in the Nigerian context.
