AN EVALUATION OF STRATEGIC PLANNING ON ORGANIZATION PERFORMANCE (A CASE STUDY OF PZ CUSSONS NIGERIA LIMITED)
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1.1 BACKGROUND OF THE STUDY
In as much company have conducted business, some have been experiencing outstanding
Successes while other person dismal failure.
Some organizations act with purpose and sense of direction, other draft, some companies are adopt at seizing new opportunities, other watch passively or let the ship through cracks. Management is a set of function i.e. planning, controlling, directing etc and the best way to predict a future is by planning ahead.
Business organizations, both small and big in Nigeria are presently going through a revolutionary trend which is affecting their performance behavior survival growth in industry. The relevance and realization of the natural desires of survival and growth in a turbulent business environment therefore call for a fundamental approach i.e. a long term perspective has to be adopted for the understanding of the factors of the economy. It is often that planning decision making. The making of tomorrow’s decision today or deciding presently where they are intends to be at a future term and how to get there.
It is the responsibility of the top management to engage in strategic plan. A strategy in plan that is unified (I.e. it ties all the part of enterprises together – strategies are both plan for the future and pattern from the past) (minzberg 1987). Strategic planning is therefore concerned with policy formulation and implementation development of plans leading to the allocation of resources in such a way as to achieve the set objective of the business.
Read Also: EFFECT OF STRATEGIC PLANNING ON ORGANIZATIONAL PERFORMANCE
Usually, it is the study of management to anticipate the future to attempt, to mould it and to balance short range and long range goal. (Drucker, 1979). Strategies planning when adopted and implemented in organization result into strategic management and its encourage a systematic management of chance and enable the organization resources toward a desire future. It is mostly in the range of 5 years, but may be as long as 15 years. This study will focus on the performance of the organization and the case study, is on PZ industry which engage in different production such as soap and detergents, tooth paste, powder etc but emphasis will be lay on the soap and detergent of the organization.
1.2 STATEMENT OF THE RESEARCH PROBLEM
Organization in Nigeria faces a lot of problem which has prompted the researcher into writing on them also profound a way in which strategy planning can enhance performance of an organization. One of the major problems of strategic planning in an organization is that plans are not property implemented.
This research will contributes to the solution of a problem of improper evaluation to the planning in an organization which can lead to inefficient and in effectiveness hindering the attainment if organization performances and objectives.
1.3 JUSTIFICATION FOR THE STUDY
This study examines the reason why evaluation of strategy planning is necessary in organization performance.
Also, but will recommend ways of improving and enriching the management skill of existing and prospective Nigeria entrepreneurs in the art and science of strategy planning.
1.4 OBJECTIVES OF THE STUDY
The main objectives of the research are:-
- To examine the extent at which strategy planning influence organization performance.
- To examine overall mission of the organization and focuses on the objectives.
- To contribute to how the organization is preparing for the challenges of tomorrow, since many organization spend most of their time reacting to unexpected changes instead of anticipating and preparing for them.
1.5 SCOPE OF THE STUDY
There are many organizations in Nigeria as a whole but PZ industry (i.e. the one producing soap and detergent) was chosen particularly because of its significance as a successful organization with a record of growth in terms of time scope. The research work will cover the part life span of the company which is between 2007 to 2012 which is a time period of 5 years.
Emphasis will be laid on strategy planning and its process will be examined with the aim of seeing how organization performs or behave within this context and weakness, opportunities and threats (SWOT) of the soap and detergents.
1.6 LIMITATION OF THE STUDY
Strategy planning is the key to helping us collectively and cooperatively gain control of the future and the destiny of our organization. Its helps to identify and answer the question on whether the organization knows that the threats are to achieving company objectives? Did strategy planning has effect on the organization in terms of productivity? Etc.
Limitation to this research could be in term of personal basis of the management which can influence response to the question that will be ask during interviews (which is a major instrument of this research) and objectivity of the results.
HISTORICAL BACKGROUND OF PZ CUSSONS NIGERIA LIMITED AND STRATEGY PLANNING
PZ Cussons Nigeria limited is a branch of PZ Cussons international with it’s headquartering in Manchester, UK. It is a successful international business which employs more than 10,000 people around the world. The operating subsidiaries which span 14 countries are supported from the centre by PZ Cussons (international) Ltd which also provides central support services.
PZ Cussons has growth into one of the most successful, respected and trusted groups in the consumer products industry. The group is moving forward with a strategy which aims at achieving continued growth and success, centering on the development and expansion of the brand in its major markets in Europe, Asia, and Africa.
PZ Cussons Nigeria plc, the largest subsidiary of PZ Cussons for over a century. No other consumers’ goods company posses the company heritage in Nigeria or understand its customers better than they do. The approach to Nigeria, their customers and to their business is designed to sustain them for into the future.
They meets the need of Nigerian in, many was ever since they have come into existence in Nigeria 37years ago, they engage in production of soaps and detergent (case study), and other goods such as tooth paste, beverages objectives in Nigeria is sustainable and profitable growth and the drive to be world class in every aspect of their life will be restless. In achieving this they have adopted Strategic Business Unit (SBU) structure in which each SBU has clear focus on its markets developing a deep understanding of the needs aspiration of its consumers and the market place which it can exploit to deliver its objectives. The business policies, systems and actions (procedures and processes, corporate in age, employee development equality of opportunity enumeration, service provided to distribute etc) are harmonized between all the SBUs, ensuring the sharing of the best practice and operational synergies.
Also, they adopted the strategy which is built on four core principles name.
- Operating in selected markets that have the potential for future growth, both on nature and emerging markets.
- Develop reading brands for the markets in which they operate.
- Operate in world class supply chain networks that enable them to deliver their brands quickly and efficiency to the local consumers.
- Recruit, develop and remain a great team of people who are aligned with value and can drive their plans for growths.
1.7 DEFINITION OF TERMS
- Planning-: planning is a management function that involves setting goals and or objectives and deciding how best to achieve them.
- Strategic planning-: strategic planning is a plan made by top management in an organization. It is a long range plan which takes time before it can be achieved.
- Organization-: organization is am entity that deals with business activities.
- Performance-: performance is an activity or task that is been carried out in an organization.
- Management-: management is an act of getting things done through other people on order to achieve organization goals and objectives.
- Entrepreneur-: entrepreneur is the person who initiates the idea of doing something.
- Production-: production is achieved by combining land, labor and capital in the creation of utilities and it is the economic activity which serves to satisfy human needs by creation materials good or by providing a service.
- Top management-: top management is the person in the top hierarchy in an organization.
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