ASSESSMENT OF STRATEGIC PLANNING PRACTICES ON ORGANISATIONAL PERFORMANCE ON SELECTED BANKS IN ONDO STATE, NIGERIA

ABSTRACT

This study focuses on the Assessment of strategic planning practices on
organisational performance of selected banks in Ondo state, Nigeria. The objectives of this study are: to examine
how strategic planning affects organizational performance, to assess the
current strategic planning being implemented by the selected banks and to
identify the challenges / factors that affect the implementation of strategic
planning in the selected banks. For the purpose of the study, a total sample of
100 respondents was selected from the banks under investigation. Questionnaires
were used to collect data from respondents. The data collected were analyzed
using table, frequency, percentage, mean ranking, factor analysis and the
hypotheses for the study were tested with Friedman
test and Bartlett's test. The study showed that strategic planning improves
customer relationship and operational efficiency. It was also revealed that the
current strategic planning approach implemented in banking industry are;
setting a realistic and achievable goal and written mission statement It was
further revealed that factors that affect the implementation of strategic
planning in banks are; environment, competitors, and technology. The findings
also showed that strategic planning facilitate improvement in organizational
performance. The study concluded that, management
should ensure every staff member understands the strategic vision, the
strategic themes and what their role will be in delivering the strategic
vision.

TABLE OF CONTENTS

CHAPTER ONE

1.0       Introduction

1.1       Background to the Study……………………………………………………1-3

1.2       Statement of Problem………………………………………………………..3-5

1.3       Research Questions…………………………………………………..............5

1.4       Aim and Objectives of the Study…………………………………………….5

1.5       Research Hypothesis………………………………………………………….6

1.6       Significance of the Study…………………………………………………….6-7

1.7       Scope of the Study……………………………………………………………7

1.8       Operational Definition of Terms ………………………………………........7-8

CHAPTER TWO: Literature Review

2.0       Introduction……………………………………………………………………9

2.1       Conceptual framework………………………………………………………...9

2.1.1    The Concept of Strategy……………………………………………………..9-12

2.1.2    The Concept and Evolution of Strategic Planning …………….…………….12-16

2.1.3    Mission, Vision, Goals and Objectives ……………………………………...16

2.1.3.1   Mission Statement…………………………………………………………16-17

2.1.3.2   Vision Statement……………………………………………………………17

2.1.3.3    Goals and Objectives……………………………………………………….17

2.1.4    Factors Influencing Strategic Planning …………………………………..…17-18

2.1.5    The importance of Strategic Planning .………………………..…………….18-20

2.1.6    The Organizational Performance........................…..........................................20-23

2.1.7    The Relationship between Strategic Planning and Performance …………….23-27

2.1.8    The Impact of Strategic Planning on Organization Performance……………...27-30

2.1.9    Performance Measurement in the Banks……………………………………….30-32

2.2       Theoretical Framework…………………………………………………………..32

2.2.1    Strategic Planning-Financial Performance Model ………………………………32-33

2.2.2    Basic Strategic Planning Model…………………………………………………33-35

2.2.3    Issue-Based (or Goal-Based) Strategic Planning Model ……………………….35-36

2.2.4    Alignment Model……………………………………………………………….36

2.2.5    Scenario Planning Model………………………………………………………..36-37

2.2.6    Organic (or Self-Organizing) Planning Model…………………………………37-38

2.2.7    The Behavioural Theory of the Firm…………………………………………….38-39

2.2.8    Resource-Based Theory………………………………………………………….39

2.2.9    Classical Theory……………………………………………………………………40

c2.3       Empirical Framework…………………………………………………………..40-45

CHAPTER THREE: Methodology

3.0       Introduction………………………………………………………………………46

3.1       Research Design ………………………………………………………………….46

3.2       Study Area ……………………………………………………………………….46-47

3.3       Population of the Study…………………………………………………………..47

3.4       Sample and Sampling Techniqu…………………..……………………………47

3.5       Method of Data Collection …………………………………………………..….48

3.6       Data Analysis…………………………………………………………………….48

CHAPTER FOUR: Data Analysis and Result Interpretation

4.1 Introduction…………………………………………………………………....49

4.2       Analysis and presentation of data……………………………………………49

4.2.1    Respondents distribution and returned characteristics …………………….49-50

4.2.2 Respondents Socio-economic Characteristics ………………………………..50-54

4.2.3    Analysis and interpretation of stated objectives………………..…………….54-59

4.2.4    Analysis and interpretation of stated hypotheses……………………………..60-62

CHAPTER FIVE: Summary of Findings, Conclusion and Recommendation

5.1       Summary of Findings………………………………………………………….63-64

5.2       Conclusion……………………………………………………………………..64

5.3       Recommendation………………………………………………………………65-66

 

APPENDIX …………………………………………………………………………67-70

REFERENCE……………………………………………………………………..71-77