Corporate Planning Problems and Benefits
– Corporate Planning Problems and Benefits –
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ABSTRACT
The research is on corporate planning; problems and benefits, A case study of Dangote of Company Lagos. The main objective of the research is to determine the problems managers encounter in corporate planning, and thus suggest possible solutions. The researcher analyzed the data collected based on the responses from questionnaire. Chi-square was used to test to hypotheses formulated.
The major findings of the research show that lack of reliable and adequate information, poor structural policy framework and lack of adequate managerial skills and technical in corporate planning. Based on the above findings, the study concludes that corporate planning covers every aspects of the organization as it sets long term goals for the organization. It is vital for the growth of the organization.
On the basis of the above finding, the study recommend that there is the need for managers to always reassess the set goals in the light of the performance of the corporate plan over-time ascertain if their target is been achieved, and thus set their goals in the light of the prevailing circumstances, which is the essence of emergent approach in corporate planning.
TABLE OF CONTENTS
TITLE ………………………………………………………………………………. i
DECLARATION …………………………………………………………………ii
CERTIFICATION ………………………………………………………………iii
DEDICATION ………………………………………………………………….. iv
ACKNOWLEDGEMENT ……………………………………………………. v
ABSTRACT ……………………………………………………………………..vii
LIST OF TABLES……………………………………………………………. viii
TABLE OF CONTENTS ……………………………………………………. x
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study …………………………………………….1
1.2 Statement of Problem ………………………………………………..3
1.3 Objectives of the Study ………………………………………………4
1.4 Research Questions ………………………………………………….4
1.5 Research Hypotheses ………………………………………………..5
1.6 Scope and Limitation of the Study ……………………………….6
1.7 Significance of the Study …………………………………………….7
1.8 Brief History of Dangote Group of Company ………………… 8
1.9 Definition of Terms …………………………………………………..10
CHAPTER TWO
REVIEW OF RELATED LITERATURE
2.1Meaning of Corporate Planning ……………………………………..12
2.2Core Areas Corporate Planning …………………………………….14
2.3Approaches to Corporate Planning ………………………………..15
2.3.1Prescriptive Approach ………………………………………………15
2.3.2Emergent Approach ………………………………………………….17
2.4Corporate Planning and Strategic Management ………………18
2.5Objective of Corporate Planning ……………………………………19
2.6Steps in Long-Range or Corporate Planning …………………..22
2.7Benefits of Corporate Planning ……………………………………..25
2.8Problems of Corporate Planning ……………………………………27
CHAPTER THREE
RESEARCH METHODOLOGY
3.1 Introduction …………………………………………………………….30
3.2 Sources of Data ………………………………………………………30
3.2.1 Primary Sources Data ……………………………………..30
3.2.2 Secondary Sources Data ………………………………….31
3.3 Population of the Study …………………………………………….31
3.4Sample Size Determination …………………………………………..31
3.5Instrument for Data Collection ……………………………………….32
3.6Method of Data Analysis ………………………………………………34
3.7Validity and Reliability of Data ……………………………………….34
CHAPTER FOUR
DATA PRESENTATION
4.1 Introduction …………………………………………………………….36
4.2 The Chi-square Test (X2) ………………………………………….36
4.3Decision Rule ……………………………………………………………..36
4.4Analysis of Questionnaires Distributed
and Returned …………………………………………………………………..37
4.5Hypothesis Testing ………………………………………………………48
CHAPTER FIVE
SUMMARY OF FINDINGS, CONCLUSION AND
RECOMMENDATIONS
5.1 Summary of Findings ……………………………………………….61
5.2Conclusion ………………………………………………………………….62
5.3Recommendations ………………………………………………………62
5.4Suggestion for Further Research …………………………………..64
Bibliography ……………………………………………………………66
Appendix ………………………………………………………………..68
INTRODUCTION
The development of corporate planning 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 labour.
Most companies used to have annual budgets or yearly financial plans to ensure their liquidity Imaga (2000:1). Since that period of world war II, higher level that is at the care 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 been a revolutionary movement or as technological revolution or even the revolution in life-styles due to income demonstration effects from time to time.
According to Hberts, (1950), comprehensive business planning now covers long-range in the form of strategic planning involving the entire fabric of the organization and is the concern of the topmost management from where it descends to all.
The scope of corporate planning covers not only the whole organization but every functional aspects 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, strategies and operational plans Akpala (1990).
BIBLIOGRAPHY
Akpala, A. (1990), Management: An Introduction and the
Nigeria Perspective: Enugu, Precision Publishers.Boyllles, A. (1990), Policy Strategy and Decision Making.
New York: McGraw Hill Book Inc.Dale, B. (1992), Long-term Planning in American Industry.
New York: AMA Inc.Donald, H. (1994:31), Principles of Scientific Management.
New Jersey: Harper and Brothers Ltd.Ewurum, U.J.F. (2001), Total Quality Management
unpublished paper presented at workshop organized by Health
System Fund, Enugu.Goode, W.J. and Hank P.K. (1952), Method in Social
Research; New York: McGraw Hill Publisher.Grayle, J. (1952), Basic Element of Management London:
Macdonald and Evan Ltd.Hammer, M. and Champy, J. (1993), Re-engineering the
Corporation. A Manifestation for business Revolution, London:
Nicholas Brealy Publishers.
CSN Team.
