THE EFFECT OF PLANNING ON THE SUCCESS OF THE BUSINESS ENTERPRISES (A CASE STUDY OF IBEDMORE RESOURCES LIMITED UYO)
TABLE OF CONTENT
Table of Contents
List of Tables and Figures
CHAPTER ONE: GENERAL INTRODUCTION
- Background of the Study
- Statement of Problems
- Objectives of the Study
- Research Questions
- Research Hypothesis
- Significance of the Study
- Scope/Limitations of the Study
- Historical Background of Ibedmore Resources
- Definitions of Terms
- Organization of the Study
CHAPTER TWO : REVIEW OF RELATED LITERATURE
2.2 Definition of Planning
2.3 Elements of Planning
2.4 Basic Steps In Planning
2.5 Qualities of Good or Effective Plan
2.6 Barriers to Effective Planning
2.7 Measures to Overcome Planning Barriers
2.8 Importance of Planning
2.9 Management Objective
CHAPTER THREE: RESEARCH METHODOLOGY
3.1 Research Design
3.2 Study Area
3.3 Population of the Study
3.4 Sample Size and Sampling Technique
3.5 Research Instrument
3.6 Method of Data Collection
3.7 Method of Data Analysis –
3.8 Decision Rule
CHAPTER FOUR: DATA PRESENTATION ANALYSIS AND INTERPRETATION
4.1 Presentation of Data in Tables
4.2 Testing Of Hypothesis
4.3 Discussion of Findings
CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS
5.1 Summary of Findings
5.3 Recommendations –
- BACKGROUND OF THE STUDY
Planning is generally recognized as the most difficult task facing the manager, and it is one that is very easy to procrastinate. Planning rest upon the view that the future success of an entity can be enhanced by continuous management actions. It pre-suppose that an organization will be more successful, in terms of its broad objectives with management actions to implement the fees forward process of than if there is no planning at all. The process of management is facilitated when decision makers of organization chart its future course of actions in advance, and take individual and group effort in a coordinated and rational manner. According to (1983: 156), planning is deciding in advance what to do, how to do it, when to do it and who should do it. Planning bridges the gap from where we are to where we want to go to. It makes it possible or things to occur which would not otherwise happen. Although, the exact future can seldom be predicted and factors beyond control may interfere with the best laid plans. Planning is therefore necessary if the unexpected must be controlled within acceptable reach. Obviously, planning is an intellectually demanding process; it requires the conscious determination of course or action and basing of decision of purpose, knowledge and considered estimates. The dynamic nature of our activities produces changes in various spheres of human activities, such as economic, technological, social and legal environments. Change has become our inevitable parts of any organization. These changes may create opportunities or threats for the organization. Whatever the direction of change is, it is imperative for organizations to embrace and adapt to it through the process of planning.
According to Agu, C N. (2003) the success or failure of an organization is largely determined by how effectively it can respond to the changing environment.
- STATEMENT OF THE PROBLEM
Planning is a function of all managers, although the character and breath of planning will vary with their authority and with the nature of policies and plans stated. In the corporate objectives. Planning is necessary in an organization because it eliminates or reduces managers’ inclination to guesses rule of thumbs and hunches in decision making and instead replaces them with logic, reason and rationality. Planning visualizes and anticipates future of affairs. However, many business enterprises have failed ultimately in planning, managers of some neglected this very important function. This has no doubt resulted in financial loss and in some cases led to the winding up of much business entities. Obviously, this problem has hampered the rapid development of the private sector of our economy. The researcher is therefore interested in examine this critical problem with the aim of providing solutions by way recommendations.
- OBJECTIVES OF THE STUDY
The main purpose of this study is to examine the effect of planning on the success of business enterprises. Other objectives include the following:
- To examine whether planning aids in actualizing organizational goals.
- To investigate the effect of planning on the profitability of business enterprises.
- To determine whether planning visualizes and anticipate future events and set action to actualize a deserved state of affairs.
- To ascertain whether planning provides basis for control.
- RESEARCH QUESTIONS
To facilitate the achievement of the objectives of this study, the following research question is logically formulated.
- What is the effect of planning on the profitability of business enterprises?
- Does planning aids in actualizing organizational goals?
- Does planning anticipate future events and set actiona to actualize a desired state of affairs?
- Does planning provide a basis for control?
- RESEARCH HYPOTHESES
The following hypotheses are formulated in this study:
(Hi) planning does not aid in actualizing organization goals.
(Ho) planning does not anticipate future events and set actions.
(Hi) planning helps to anticipate future events and set actions
- SIGNIFICANCE OF THE STUDY
The significance of the study are as follows:
- Loopholes inherent in the planning process would be made known to ensure that planning is properly implemented in all level of organization.
- This study would broaden the research horizon in the effectiveness of planning on the success of business enterprises.
- This study will show how planning is carried out to reduce random activity and overlapping efforts in the organization.
- The study will show how planning streamlines activity, measuring performances.
- This study will show how planning gives a sense of direction and focus to the organization.
- To provide a basis for control. Control activities are geared towards established plans which may be standard, objectives or targets and therefore offer means of measuring performance.
- It will integration and viewing the organization as one well as visualizes how the activities are interrelated in achieving the overall goal.
- This study would describe how planning provides a means of actuating leader and the employees.
- SCOPE/ LIMITATIONS OF THE STUDY