Strategic Planning And Its Impact On Organizational Performance

TAIWO, AKEEM A and EZEKIEL, EVELYN ILAMOSI Strategic Planning And Its Impact On Organizational Performance. MTU Journal of Entrepreneurship and Sustainable Development, 3 (1). pp. 119-127. ISSN 2714-3163

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The paper examined the impact of strategic planning on organizational performance and survival. Strategic planning plays a vital role in the performance and survival of the organization and for this reason it is mandatory for every organization to include strategic planning in its administration. The main objective of the study is to find out if there is a link between strategic planning and organizational performance of two deposit-money banks in Ilaro namely Polaris bank Plc and Access bank Plc. A descriptive survey method was used which involved administering questionnaires to 50 respondents: i.e. 25 respondents for each bank, however, only 40 was retrieved comprising of 19 from Polaris bank and 21 from Access bank which include both senior and junior staff. The data collected were analysed using descriptive statistics while the hypotheses were tested using linear regression model though the use of the Statistical Package for Social Science (SPSS). From the findings of the study, it was revealed that strategic planning has a significant relationship with organization performance (p<0.001) while it was also found to be statistically significant on the achievement of corporate goals and objectives (p<0.000). Based on the findings of the study, it was recommended among others that the system of strategic planning and its procedures must be evaluated at different states of operations and where loopholes have discovered, adequate steps should be taken to cover them immediately.

Item Type: Article
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Faculty of Law, Arts and Social Sciences > School of Management
Depositing User: Unnamed user with email [email protected]
Date Deposited: 04 Mar 2023 19:59
Last Modified: 03 Apr 2023 12:05

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