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STRATEGIC PLANNING AND ORGANIZATION PERFORMANCE ( A STUDY OF CEMENT COMPANY OF NORTHERN NIGERIA PLC SOKOTO STATE

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 CHAPTER ONE

INTRODUCTION

  • Background of the study

Business environment is increasingly and constantly changing. There is therefore uncertainty about the future as new situations such as technological advancement, new societal trends, new economic forces or newly enacted government regulations emerge.  Cement company also operating in markets where competition is keen and many large competitors are present. In order to survive in a dynamic and fast changing turbulent environment and therefore succeed in competitive markets, an autonomous government institution must diagnose the changing situation or circumstances and accordingly put in place strategic measures.

Very simply put, strategic planning identifies where the organization wants to be at some point in the future and how it is going to get there. The “strategic” part of this planning process is the continual attention to current changes in the organization and its external environment, and how this affects the future of the organization.

Strategic planning is a set of managerial decisions and actions that determine the long-term direction and survival of an organization. Strategic planning is also the activities that lead to the statement of goals and objectives and the choice of strategies to achieve them (Dubrin, 1998).  It is typically concerned with fundamental decisions about the future of the organization.

However, formulating and implementing a strategic plan should not be the end of strategic planning.  cement company and other organizations need to know the impact or effects of strategic planning on the organizational performance. The impact or effects should be measured not only in terms of typical output-oriented quantitative indicators, but also in terms of qualitative impacts of the strategic planning process or activity itself. Measuring the impact of strategic planning in this direction will enable management to know whether the resources devoted to strategic planning are worth their value or not.

The literature on the impact of strategic planning has increasingly and exclusively dealt mostly with profit or financial payoffs (Ramanujam and Venkatraman, 1987). Indeed, there has been little or concern on measuring other qualitative aspects of the impact of the strategic planning and the planning process itself on performance of organization such as cement company. In other words, the act of engaging in strategic planning is as valuable as the ultimate strategic document and these needs to be measured.

The present study has been stimulated by this idea of measuring the qualitative impacts of strategic planning on performance the cement company of Northern Nigeria plc sokoto state

1.2 STATEMENT OF THE PROBLEM

Past and recent research studies have made it clear that there is an increased internal and external uncertainty due to emerging opportunities and threats, lack of the awareness of needs and of the facilities related issues and environment and lack of direction.

Many organizations spend most of their time realizing and reacting to unexpected changes and problems instead of anticipating and preparing for them. This is called crisis management. Organizations caught off guard may spend a great deal of time and energy playing catch up. They use up their energy coping with immediate problems with little energy left to anticipate and prepare for the next challenges. This vicious cycle locks many organizations into a reactive posture.

This research study is to assess the strategic planning on organizational performance, which at the long run enhances organizational survival.

The first planning-performance studies emerged after the rapid expansion of formal strategic planning in the 1960s (Henry, 1999). Although the studies employed diverse methodologies and measures, they shared a common interest in exploring the financial performance consequences of the basic tools, techniques and activities of formal strategic planning, i.e., systematic intelligence-gathering, market research, SWOT analysis, portfolio analysis, mathematical and computer modeling, formal planning meetings and written long-range plans.

  • OBJECTIVE OF THE STUDY

The following are the objectives of the study

  1. To investigate the impact of strategic planning on the performance of organizations
  2. To give a structural analysis of the concept of strategic plan
  3. To examine the relationship between strategic planning and organizational performance
  4. To observe the organization under study and it performance resulting from strategic planning
  5. To examine the advantage and the cost involve in strategic planning
  6. To examine the consequences of lack of strategic planning in organizations

1.4 RESEARCH HYPOTHESES

For the successful completion of the study, the following research hypotheses were formulated by the researcher;

H0: there is no impact of strategic planning on the performance of organizations.

H1: there is impact of strategic planning on the performance of organizations.

H02: there is no relationship between strategic planning and organizational performance.

H2: there is relationship between strategic planning and organizational performance

1.5 SIGNIFICANCE OF THE STUDY

This research work will help the organizations and managers to understand those benefits that strategic planning embodies which most organizations have neglected and ignored in the past. In understanding this on the side of the organizations, it will allow them to rethink and work towards a qualitative strategic planning in order to enhance and increase the performance of the organizations

1.6 SCOPE AND LIMITATION OF THE STUDY

The scope of the study covers strategic planning and organisation performance ( A study of cement company of Northern Nigeria plc sokoto state. The researcher encounters some constrain which limited the scope of the study;

  1. a) AVAILABILITY OF RESEARCH MATERIAL: The research material available to the researcher is insufficient, thereby limiting the study
  2. b) TIME: The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.

1.7 DEFINITION OF TERMS

Planning: Planning (also called forethought) is the process of thinking about and organizing the activities required to achieve a desired goal.

  1. Planning involves the creation and maintenance of a plan. As such, planning is a fundamental property of intelligent behavior.
  1. Forecasting: Forecasting is the process of making statements about events whose actual outcomes (typically) have not yet been observed. A commonplace example might be estimation of some variable of interest at some specified future date. Prediction is a similar, but more general term.
  1. Strategy: Strategy is a high level plan to achieve one or more goals under conditions of uncertainty. Strategy is important because the resources available to achieve these goals are usually limited.
  1. Productivity: this can be defined as efficiency with which work is done, the amount of work done in a certain work.
  1. Organizing: this is determined of activities that need to be done in order to reach the activities to the proper personnel.
  1. Responsibility: this is the duty to perform certain assigned tasks in a satisfactory manner.
  1. Management: The organization and coordination of the activities of a business in order to achieve  defined  objective.   Management is often included as a factor  of production  along with‚ machines, materials, and money. According to the management guru Peter Drucker (1909-2005), the basic task of management includes both marketing and  innovation.
  1. Organization: A social unit of people that is structured and managed to meet a need or to pursue collective goals. All organizations have a management structure that determines relationships between the different activities and the members, and subdivides and assigns roles, responsibilities, and  authority to carry out different tasks. Organizations are open systems–they affect and are affected by their environment.

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