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CORPORATE
PLANNING AND ORGANIZATIONAL PERFORMANCE: A STUDY OF GUARANTEE TRUST BANK (GTB)
ABSTRACT
The aim of this study
was to determine the concept of corporate planning and organizational
performance at guarantee trust bank, Port Harcourt. In doing tis questionnaires
were administered to senior management staff of the bank. These responses were
analyzed using the percentage method. While the hypothesis were tested using
the chi-square statistical tool. Personal interviews and observation techniques
were deployed were necessary. Based on the above inputs the study revealed
among others that corporate planning involved a typical integration through
research and development of the internal environment of the firm. That the
external and internal determine the extent of corporate planning performance.
Others on the findings of the study, it was recommended both human that
corporate planning, it was recommended among others that corporate planning
should involve evaluating both human and material performance. Motivations,
democratic leadership styles, effective supervision should serve as weapons of
defence.
TABLE
OF CONTENTS
Title Page i
Declaration ii
Certification iii
Dedication iv
Acknowledgement v
Abstract vi
Table of Contents vii
CHAPTER
ONE: INTRODUCTION
1.1 Background
of the study 1
1.2 Statement
of the problem 5
1.3 Purpose
of the study 8
1.4 Research
questions 8
1.5 Research
hypothesis 9
1.6 Significance
of the study 9
1.7 Scope of
the study 10
1.8 Definition
of terms 10
1.9 Organization
of the study 11
CHAPTER
TWO: LITERATURE REVIEW
2.1 the
concept of corporate planning 14
2.2 internal
and external organizational corporate appraisals 16
2.2.1 internal appraisal 17
2.2.2 external appraisal 19
2.3 corporate
human resources planning 21
2.4 objectives
of corporate human resources planning 22
2.5 integrating
human resources with overall corporate
Planning to effect
organizational performance 23
2.6 problems
militating against an adequate corporate
planning for
organizational performance 25
2.7 summary
of literature review 26
CHAPTER
THREE: RESEARCH METHODOLOGY
3.0 Introduction 28
3.1 Research
design 28
3.2 Population
of the study 29
3.3 Sample/sampling
technique 30
3.4 Instrumentation/administration 31
3.5 Validity
of instrument 31
3.6 Reliability
of instrument 32
3.7 Data analysis
technique 32
CHAPTER
FOUR: PRESENTATION OF DATA ANALYSIS
4.0 Introduction 33
4.1 Data analysis 33
4.2 Hypothesis
testing 37
CHAPTER
FIVE: SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS
5.1 Introduction 41
5.2 Summary 41
5.3 Conclusion 42
5.4 Recommendations 43
Bibliography 45
CHAPTER
ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Corporate
planning is a system of total examination of organizational plans goals and
objectives. Corporate planning provides management with solutions to
organizational needs.
The
term corporate therefore applied to every operation in the organizational
guided towards attaining organizational goals. Hence human and material
resources are the major tools in ensuring corporate governance in an
organization.
Corporate
planning therefore enables management to embark on and carry along every aspect
of their business venture corporate planning is an appraisal of an
organizations internal and external contingency. The effectiveness of corporate
planning can be measured in terms of the extent to which it influences
organizational performance, which affects its survival rate. The main objective
of this study is to re-evaluate the planning performance relationship in
organization and determine the extent to which corporate planning affects
performance in an organization.
Corporate
planning consists of a set of underlying processes what are intended to create
a manipulate a situation to create a more favouralbe outcome for a company.
In
business, strategic planning provides overall direction for specific units such
as financial focuses, projects, human resources and marketing. This study goes
beyond the observation of some research that questioned the existence of direct
causal relationship between the uses of corporate planning and improves
performance.
Strategic
planning is a tool for finding the best future for your organization and the
best path to reach that destination. Corporate planning positively affects
organizations performance, or more specifically, the amount of strategic
planning an organization conducts positively affects its financial performance.
Wales
(2002) stated that corporate planning and productivity can only be achieved
when it is analyzed in the context of growth, market share, profitability and
productivity.
Growth
has been described by Wales (2002) as a gradual attainment of stated goals and
objectives of an organization. Growth is linked with market share and
acquisition of a firm.
Hence
there could be a “high market share and low market growth” this is a position
of some strength as the high market share should facilitate economics of scale,
low unit costs, etc and give a position of market dominance. Because market
share is low, the need for new investment will be minimal with the result that
products in this cell will tend to be a large generations of cash.
“High
market share and high market growth”. Here Andowi (1999) states that it
contains a potential of cash lows, at present termed stars. If their
competitive position is improved, involving heavy expenditure they will be cash
absorbers until such a time as the market growth rate declines and they become
cash generators.
“Low
market high market growth”. Here, here is a need to invest to keep a foothold
in a market that is dominated by others.
“Low
market share and low market growth”. Here little cash is produced (if any) it
will be prohibitively expensive to seek market dominance from this position, to
the best of strategy is to delete dogs from the range. The existence of dogs
suggest a failure to obtain a leadership position during the growth phase, and
so further failures through cash absorption should preferably be avoided.
The
profitability concept under corporate planning and organizational performance
involves analyzing the cost and benefit index. Here there is a need to maximize
the benefits for a given outlay or minimizing the cost of containing benefits
or maximize the value of the benefits. Return on investment under the concept
of profitability calculates the return on the expenditure after the research
has been done and acted upon.
Since
research is used to decide among alternative it may be assumed that x% of
decision are correctly made without research, which reduces the worth of
information to 1-x% of the total profit contribution. Hence the return on
investment which is profit can also not be attained without a greater awareness
on productivity levels.
Productivity
involves a total awareness of the internal and external appraisals of the firm.
An examination and implementation of strategies on firms strength and weakness
internally and externally.
Productivity
is aimed at a proper identification, evaluation and implementation of the
corporate planning process of an organization as listed by Nwala (2001).
Ø Environment
appraisal such s markets, economy, competitors, government, taxation technology
etc.
Ø Evaluation
of alternatives opportunities and threats, generation of strategic alternative,
analysis of operating strengths and weakness plus resources, analysis of skills
capability profile definition of key skills and decisions.
1.2 STATEMENT OF THE PROBLEM
Most
firm manages over the years are unable to define specifically the concept and
application of corporate planning in their business.
Hence
most pans are carried out haphazardly thereby producing unwanted results. They
are either ignorant of the concept of corporate planning based on lack of
experience or training or they are well trained but lack the application
techniques.
Most
of them therefore tend to see corporate planning from their own sense of
judgment that results expected will be achieved based on the inputs not
considering or giving room for uncontrollable variables such as government
policies, taxation, technology, change in taste, demand suppliers behaviour,
scarcity etc which are mostly external problems.
Even
controllable variables within the organization most times are beyond the
control of managerial expertise due to lack of good marketing and managerial
mix. Internal factors are usually within the manager’s control, example the
employee.
Whilst
external factors are the ones that are beyond the control of the manager.
Example, economic, legal/political socio-cultural. They help in increasing the
interest rate, stability of government policy and different culture background
of norm and value.
It
had made it clear that there is an increase in internal and external
uncertainty due to emerging opportunities and threats, lack of the awareness of
need and of eh facilitate related issues and environment and lack of direction.
This research study is to assess the impact of corporate planning on
organizational performance, which at the long run enhances organizational
survival.
Osabor
(2000) expressed pragmatically that there is a lack of foresight amongst most
managers in firms. Strategic techniques to handle organizational programmes are
also lacking.
The
success and attainment of most firms that have poor managerial grid has been
tied to repeated planning and failing to achieve results, until after huge
losses has been incurred before proper strategies are finally put in place.
Determining
the strengths and weakness of an organization has also been a major obstacle to
managerial success. The understanding of an organizations strength and weakness
goes a long way to assure the implementation of adequate strategies for goal
attainment corporate planning therefore involves a total reanalysis of the
internal and external environments affecting a firm.
The
inefficiency of corporate planning in most banks are steered from the fact
that, managerial staff are not competent, based on lack of experience and their
educational qualifications are not in line with administrative and planning
concepts. The authoritative leadership concept has also deprived mot bank
manager’s vital information that could lead to an effective corporate planning.
These are the problem that should be solved if corporate planning must yield
performance in the banking sectors.
The
management staff should try as much to increase their strategy level in order
to achieve effective goals in banking sector.
1.3 PURPOSE OF THE STUDY
v To
identifying the concept of corporate planning in the banking sector.
v To
evaluate the factors militating against adequate implementation of corporate
planning in the banking industry.
v To
ascertain the extent to which proper corporate planning ha aided GTB to achieve
its goals.
v To
determine the rudiments and application of corporate planning.
1.4 RESEARCH QUESTIONS
Ø Is
there any significant relationship between corporate planning and
organizational performance?
Ø What
factors militate against adequate implementation of corporate planning in the
banking sector?
Ø To
what extent has proper corporate planning aided GTB to achieve its goals?
1.5 RESEARCH HYPOTHESES
H01:
An effective corporate planning implementation does not significantly affect
organizational performance.
H02:
There is no significant relationship between corporate planning and
organizational performance.
1.6 SIGNIFICANCE OF THE STUDY
The
study shall expose to management of firms the rudiments and application of
corporate planning in their organization.
This
study shall therefore arouse management’s interest in the banking sector to
understand the prerequisites involved in effective corporate governance in the
banking sector. This study shall therefore be useful for further research for
corporate planning in the banking sector. The banking sector shall greatly
literature benefit from the study. This study shall add to the existing
literature on corporate planning and performance.
This
study shall enable management to know their functions and ways of carrying out
their duties very well for the benefit of the organization as a whole.
17. SCOPE OF THE STUDY
The
scope of this study is restricted to Guarantee Trust Bank (GTB) in Port
Harcourt.
Based
on the unavailability of adequate finance and time, the study could not be
carried out in other branches of guarantee trust bank nationwide.
Because
of the very busy schedule of the staff of guarantee trust bank, there was
little time for adequate information to be retrieved on corporate planning and
organizational performance.
1.8 DEFINITION OF TERMS
Corporate Planning
This
is the means or the allocation of resources amongst selected combinations of
product or services and markets strategies for achieving organizational goals
and objectives.
Performance
This
is the application of strategies and achievement of desired goals through human
and material resources in an organization.
1.9 ORGANIZATION OF THE STUDY
This
study on corporate planning and organizational performance with a case study of
Guarantee Trust Bank (GTB) shall be organized as follows:
Chapter
one, this focuses on the background of the study, statement of the problem,
purpose of the study, research questions, research hypothesis significance of
the study, scope of the study, definition of terms and organization of the
study.
Chapter
two consists of reviews of relevant literature of renowed authors in the field
of study. Chapter three entails the methodology selected by the researcher of
the study. It entails research design, population of the study, sample/sampling
technique, instrumentation/administration, and validity of instrument,
reliability of instrument and data analysis technique.
Chapter
four consists of presentation and analysis of data collection from relevant
sources of the study while chapter is the last section of the work and it
consist of discussion, conclusion and recommends made by researcher.
Bibliography and questionnaire inclusive.
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