Assessing The Role Of Strategic Planning As A Tool For Achieving Organizational Objectives Of Business Organizations In Nigeria (A Case Study Of Nigeria Bottling Company Plc, Ilorin)
1.1 Background of the Study
Nigerian Bottling Company business environment, business administration, educational sector e.t.c make use of planning to make important decision, recognizing decision making applied in the process, they collect data, organize analysis interpreting and implementing the result for both present and future used.
The organizational mission and functions such as forecasting, planning organizing, motivating coordinating and controlling as the effective and efficient means by which organization can survive and also satisfy their customers need.
However organization is defined as a group of people bound together to provide unity of action for the achievement of a predetermined objectives. It can also be seen as a process of coordinating individual effect to accomplish common objectives.
Since planning is an independent variable while organization is Depend the success or future of it application will depend on how all it has been positively combine with the use of planning.
In recent years, the development of planning in the organizational filed has brought about a substantial change in the organization thinking and practice. The leaning of planning is almost always a wise investment especially for those who are planning to make a carrier in the field of management.
However, planning have been closely considered from the perspective that it enhance knowledge acquiring and decision making, so many texts have been written open the subject organizational and planning, beside good organization should always make use of planning always with the use of statistic data for problem solving and decision making to accomplish organizational goods and objectives.
1.2 Problems of the Study
The idea that a company strategy is important to oe leaved to the entire organization because of the competition this is because every firm would be working to words achieving of the organization.
Strategic planning is restrained complex that it can be come prohibitively expensive to operate.
Concentration on specific strategies may lead to inability to take up better opportunities when they arise.
Some argue that many firms not considers strategic planning organization objectives be defatted and may lead to closed down of the business.
It is important to note that there is no point that strategic planning bring about a better performance. However fact suggests that improve organizational performances.
- HI: Planning has a significant impact on the organization which makes an organization to achieve the goals and objective.
HO: Planning has no significant impart in the organization which are negative effect of the objective of an organization.
- H2: Implement and execution of strategic planning has positive impart in the organization performance in achieving the goal and objective of an organization.
H02: Implement and execution of strategic planning has negative impact on an organization performance in the objective and goals of organizations.
A hypothesis is a preposition or statement of fact relating to research out forward by a research or to guide him/her is his/her research work which may be true or false/valid or otherwise. If the majority of the research data collected support the fact that it is valid then it is therefore accepted. Otherwise it’s not and have to be rejected for the purpose of this research work, the major hypothesis considered include.
- That there is direct relationship between planning and organizational objectives.
- That effectiveness of planning techniques determines level of achieving organizational objective.
- Does a manager face problems when making use of statistical data in solving problems?
- The relevance of planning in organization and to what extent is their roles being carried out?
- The organization is dependent on planning tools.
- That planning is dependent to organization.
- That there is direct relationship between planning tools and organization and organizational objectives.
- That effectiveness of planning techniques level of achieving organizational objectives.
- Does a manager face problems when making use of statistic data in solving problems?
- The relevance of planning in organization and to what extents are they carried out?
- The organization is dependent on planning tools.
1.4 Aims and Objectives of the Study
The centre of study is on how strategic planning help in achieving organizational objectives among the objectives is to critically examine the list o f available planning tools in term of achieving organizational objective in terms of productivity and thereby making huge profit having.
Therefore the basic aims of this study include,
- To determine what consideration an organization bears in mind when designing tools in achieving it management decision.
- To identify effect of planning as a tool in achieving organizational objectives.
- To determine the planning that is available to the organization in order to obtain the greatest capacity of workers.
- To identify and discuss the effect of planning techniques on bottling company and its corporate objective.
- To examine the mode and manners in which planning is being applied in Nigerian bottling industry and how effective they are using planning to achieve and increase their organizational objectives.
1.5 Scope of the Study
The scope of the study is made up of strategic planning concept theory in reference to Nigerian Bottling Company, strategic planning influence on the business environment in achieving organizational objectives. Also on how the management of business organization should use good strategic planning in solving problems among employees and for good decision making in other to strike a balance between the employees objectives and that of the organization, furthermore, through the use of good planning, this study will influence the organization on how to maintain good position in the midst of other competition.
1.6 Limitation of the Study
Due to complexity envisage in data collection of the short duration of time available from these types of research the study will cover the period of 2007 — 2011.
However this period of spanning 5years provides an interesting research art it encompass the two regime, administrator interest rate policy (2010/2011) and the liberalized interest regime (2005/2008).
The data used will be strictly those relating to and generated from the Nigeria economy.
Although in our literature review, the performance of interest the rate in other economic will be considered.
1.7 Definition of Terms
The procedure or activity of determining in advance especially what need to be done in other to achieve particular goals how should be done when and where it should be done who should do it.
The key decision or plan of action required to reach on objective or set of objective.
3. Strategic Planning:
Long range planning that focus on goals attainment by adapting the organization to environment changes. Determination of the stop required to reach an objective of achievement the optimum fit between the organization and market place.
A group of people bound together to provides unity of action for the achievement of a predetermined objective.
A company defined and measurable aims for a given period.
The collection of observant on this is a large volume of details which are generated by day-to-day transaction but most be process and organized before they can sense to central operation or to proved meaningful information.
Summary, Conclusion and Recommendation
They tend to summarize contented from chapter 1-4 while chapter one has revealed and examined the impart of it significant impart and to the organization which make an organization to achieve the goals and objectives and it can also be the significant to bring the positive impart to the organization.
This project work also has examined the roles of strategic planning in manufacturing industry, in this study, the researcher been able to show the importance of strategic planning to manufacturing bottling company and why they must strategically exercise their plans, polities and other organization activities, in order to achieve better cooperate result of organization.
As a result of the research findings the followings conclusion were draw; that the firm maximizes profit with use of strategic planning.
Also the firm can also gain reasonable market share with the use of strategic planning.
In addition, the firm can also achieve efficient and effective productivity. Through strategic furthermore the firm can provides efficient allocation of resources with the use of strategic planning.
Finally the firm can builds customer loyalty their customer with the use of strategic planning and proper management.
Business organization are advice to use strategic planning to a achieve profit maximization.
Also, business organization should put more effort in delivering a means of gaining wider market share with the use of strategic planning.
However, business organizations are advice to use strategic planning to allocation their resource efficiently.
Furthermore, business organization should also consider the satisfaction of their customer with the use of strategic planning.
Finally, business organizations are also advised to use strategic planning to achieve efficient and effective productivity, by implementing executing and evaluating the strategic towards achieving maximum goals.
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