AN EXAMINATION OF THE EFFECTIVENESS OF CORPORATE PLANNING IN MANAGEMENT PROCESS

AN EXAMINATION OF THE EFFECTIVENESS OF CORPORATE PLANNING IN MANAGEMENT PROCESS

ABSTRACT

This research work focused on an examination of the effectiveness of corporate planning in management process, a case study of First Bank plc, Ikot Ekpene. To achieve the research objectives, the study made use of survey research design. Convenience sampling technique was used to select fifty (50) respondents as sample size for the study. The instrument of data collection was self-developed questionnaire and the forms were personally administered. Hypotheses were formulated to guide the study and the data were analyzed using chi-square( ²) statistical tool and frequency tables. The findings from the study revealed that the effectiveness of corporate planning in the management process are: making of decisions that bring about long term direction of the organization, effective management of the resources of the organization.  Also, the study revealed that the strategies for effective corporate planning in an organization for effective management are: developing planning based on current trends and future conditions and establishing strategies to achieve objectives. The study also showed that the challenges to effective corporate planning in an organization are: inadequate information during planning on the strengths and weakness of the organization and inability to re-assess established goals. Finally, the study revealed that the possible solutions to the challenges of effective corporate planning in organizations are: conducting research to gain information on the strengths and weakness of the organization and regular re-assessment of corporate plans/goals. Useful recommendations are also offered such as; that management of organizations should always ensure that the trend in business is always studied overtime and those who carry out the planning should have foresight, skill or expertise knowledge in corporate planning.

 

LIST OF TABLES

                                                                     Pages 

Table 3.1:             Sample Selection-   –      –      –

Table 4.1.1:          Responses to Research

Question One  –      –     –      –

Table 4.1.2:          Responses to Research

Question Two – –     –      –      –

Table 4.1.3:          Responses to Research

Question Three-       –     –      –

Table 4.1.4:          Responses to Research

Question Four- –     –      –      –

Table 4.2.1 A:       Observed Frequency Table for

Hypothesis One-     –      –      –

Table 4.2.1 B:       Expected Frequency Table for

Hypothesis One      –      –      –

Table 4.2.1 C:       Comparison of Observed with

Expected Frequencies for

Hypothesis One-     –      –      –

Table 4.2.2 A:       Observed Frequency Table for

Hypothesis Two      –      –      –

Table 4.2.2 B:       Expected Frequency Table for

Hypothesis Two      –      —    –

Table 4.2.2 C:       Comparison of Observed with

                           Expected Frequencies for

Hypothesis Two-     –      –      –

Table 4.2.3 A:       Observed Frequency Table for

Hypothesis Three – –       –      –

Table 4.2.3 B:       Expected Frequency Table for

Hypothesis Three –  –      –      –

Table 4.2.3 C:       Comparison of Observed with

Expected Frequencies for

Hypothesis Three    –      –      –

Table 4.2.4 A:       Observed Frequency Table

for Hypothesis Four –      –      –

Table 4.2.4 B:       Expected Frequency Table

for Hypothesis Four –      –      –

Table 4.2.4 C:       Comparison of Observed with

Expected frequencies for

Hypothesis Four      –      –      –

  

TABLE OF CONTENTS

                                                               Page

Title page –      –      –      –      –      –      –      –            i

Approval page –      –      –      –      –      –      –             ii

Certification   –      –      –      –      –      –      –            iii

Dedication      –      –      –      –      –      –      –            iv

Acknowledgements –      –      –      –      –      –            v-vi

Abstract  –      –      –      –      –      –      –      –            vii

List of tables   –      –      –      –      –      –      –             viii-ix

Table of Contents   –      –      –      –      –      –            x-xii

CHAPTER ONE

 INTRODUCTION

1.1  Background of the Study –      –      –      –

1.2  Statement of Problem     –      –      –      –

1.3  Objectives of the Study   –      –      –      –

1.4  Research Questions –      –      –      –      –

1.5  Statement of Hypothesis –      –      –      –

1.6  Significance of the Study       –      –      –

1.7   Scope of the Study –      –      –      –      –

1.8   Limitations of the Study  –      –      –      –

1.9  Organization of the Study      –      –      –

1.10        Definition of Terms  –      –      –      –

CHAPTER TWO

REVIEW OF RELATED LITERATURE

• The Concept of Corporate Planning in Organization
• Effectiveness of Corporate Planning in the Management Process
• The Strategies for Effective Corporate Planning in an Organization
• The Challenges of Effective Corporate Planning
• Possible Solutions to the Challenges of Effective Corporate Planning

CHAPTER THREE

RESEARCH DESIGN AND METHODOLOGY

 

3.1  Research Design     –      –      –      –      –

3.2  Population of the Study   –      –      –      –

3.3  Sample and Sampling Technique    –      –

3.4  Instrumentation     –      –      –      –      –

3.5  Plan for Data Analysis     –      –      –      –

3.6  Problems of Data Collection    –      –      –

CHAPTER FOUR

DATA PRESENTATION, ANALYSIS AND INTERPRETATION

4.1  Analysis of Research Questions-     –      –

4.1.1 Analysis of Research Question One

4.1.2 Analysis of Research Question Two

4.1.3 Analysis of Research Question Three

4.1.4 Analysis of Research Question Four

4.2 Test of Hypotheses

4.2.1 Test of Hypotheses One

4.2.2 Test of Hypotheses Two

4.2.3 Test of Hypotheses Three

4.2.4 Test of Hypotheses Four

4.3  Discussion of Findings

 

CHAPTER FIVE

SUMMARY, FINDINGS, CONCLUSION AND

RECOMMENDATIONS

Preamble –      –      –      –      –      –      –      –

5.1  Summary of Findings-    –      –      –      –

5.2  Conclusion      –      –      –      –      –      –

5.3  Recommendations  –      –      –      –      –

References

Appendix(es) 

CHAPTER ONE

INTRODUCTION

 

1.1 Background of the Study

 

The development of corporate planning in business is a post World War II Phenomenon. Before the period of the World War II, almost all business enterprises were carrying on their business affairs without stating any formal objectives or formal long range business plans. Usually business planning was confined to the lower organizational levels, mainly the functional or the departmental levels and they had only short-term plans which focused mainly on manufacturing product planning, materials ordering and receiving, and hiring of labor. Most companies used to have annual budgets or yearly financial plans to ensure their liquidity (Imaga, 2000). Since that period of World War II, higher level that is at the core body of the company level long-range, usually of 3 to 7 years period planning has assumed ever increasing importance. The development of business planning has been a revolutionary movement or as the technological revolution or even the revolution in life-styles due to income demonstration effects from time to time.

Comprehensive business planning now covers long-range in the form of The scope of corporate planning covers not only the whole organization but every functional aspect of the organization. It takes into account the full environments in which the business operates and is a systematic assessment of a most comprehensive nature, leading to the realistic mapping out of long term objectives, strategic and operational plans Akpala (1990). In corporate planning, top management is concerned with the future direction of the business as a whole, such decisions taken are long-term in nature and are bound to have far reaching implications on employment, the financing of the business and the types of products manufactured.

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AN EXAMINATION OF THE EFFECTIVENESS OF CORPORATE PLANNING IN MANAGEMENT PROCESS