Show all

EFFECTS OF STRATEGIC PLANNING ON THE PERFORMANCE OF SMES

ATTENTION:

BEFORE YOU READ THE CHAPTER ONE OF THE PROJECT TOPIC BELOW, PLEASE READ THE INFORMATION BELOW.THANK YOU!

 

INFORMATION:       

YOU CAN GET THE COMPLETE PROJECT OF THE TOPIC BELOW. THE FULL PROJECT COSTS N5,000 ONLY. THE FULL INFORMATION ON HOW TO PAY AND GET THE COMPLETE PROJECT IS AT THE BOTTOM OF THIS PAGE. OR YOU CAN CALL: 08068231953, 08168759420

 

 

EFFECTS OF STRATEGIC PLANNING ON THE PERFORMANCE OF SMES

 

CHAPTER ONE

 

1.1  Background To The Study

 

In the 20th century, the subject of strategic planning has been particularly applied to Organizations. It is viewed as the science and art of the formulation, implementation and evaluation of cross-functional decisions that enable an organization to achieve its objective.  Strategic planning applies the integration of all functional units in the organization consisting of marketing, finance and accounting, operations and production and management to attain organizational success. Strategic planning constitute as an organizational process which aims at channeling both human and other organizational resources in the profitable attainment of the needs of customers and other principal stakeholders. Strategic planning implementation is guided by the stated policies, mission statement and strategic goals and objectives. The behavior of top management and other key managers in the organization. Strategic management requires the specification of strategic aims and objectives in the light of its internal resources and external factors. It specifies the target customers to serve with the right product and services through the effective and efficient allocation of resources (Cole, 1997).Strategic planning as explain by Lamb (1984) indispensable for SMES to be more proactive and secure the future. The research therefore seek to investigate Effects of strategic planning on the performance of SMES in south-west Nigeria

 

1.2  Statement of the Problem

 

The growing significance of SMES cannot be overemphasized in view of its contribution to the economic growth of the country through the provision of employment for a large segment of the population and revenue derivation.

 

However SMES are faced with challenges in respect of formulating and implementing strategic plans. The inability to be proactive and secure the future with success has been the reason for many folding up of SMES and as well as their inability to grow rapidly. Consequently management experts have advocated the need for SMES to deploy strategic planning as a measure to ensure the effective and efficient channeling of resources to profitably meet the growing needs of customers with innovative products and services. Many of the growing challenges encountered by SMES in the evolution and implementation of strategic planning include management inability to support strategy, lack of adequate resources, no alignment of activities with strategy and inability to manage change and lack of human resources to implement strategic plans. Consequently the problem confronting the research is to appraise Effects of strategic planning on the performance of SMES in south-west Nigeria

 

1.3  Objectives of the Study

 

To appraise the nature and effect of strategic planning on SMES performance.

 

To determine the Effects of strategic planning on the performance of SMES in south-west Nigeria

 

Strategic planning applies the integration of all functional units in the organization consisting of marketing, finance and accounting, operations and production and management to attain organizational success. Strategic planning constitute as an organizational process which aims at channeling both human and other organizational resources in the profitable attainment of the needs of customers and other principal stakeholders. Strategic planning implementation is guided by the stated policies, mission statement and strategic goals and objectives. The behavior of top management and other key managers in the organization. Strategic management requires the specification of strategic aims and objectives in the light of its internal resources and external factors. It specifies the target customers to serve with the right product and services through the effective and efficient allocation of resources (Cole, 1997)

 

1.4  Research Questions

 

What is the strategic planning?

 

What is the effect of strategic planning on SMES performance

 

What is the effect of strategic planning on SME performance in south- west Nigeria?

 

1.5  Significance of the Study

 

The study provides an avenue for SMES to understand the tools of strategic planning and strategic management towards facilitating the improvement of their performance.

 

The growing significance of SMES cannot be overemphasized in view of its contribution to the economic growth of the country through the provision of employment for a large segment of the population and revenue derivation.

 

However SMES are faced with challenges in respect of formulating and implementing strategic plans. The inability to be proactive and secure the future with success has been the reason for many folding up of SMES and as well as their inability to grow rapidly. Consequently management experts have advocated the need for SMES to deploy strategic planning as a measure to ensure the effective and efficient channeling of resources to profitably meet the growing needs of customers with innovative products and services.

 

1.6  Research Hypothesis

 

Ho The Effects of strategic planning on the performance of SMES in south-west Nigeria is low

 

Hi The Effects of strategic planning on the performance of SMES in south-west Nigeria is high

 

1.7  Scope of the Study

 

The study focuses the appraisal of Effects of strategic planning on the performance of SMES in south-west Nigeria

 

1.8  Limitations of the Study

 

The study was confronted with some constraints including logistics and geographical factors

 

1.9  Definition of Terms

 

INTERNAL ENVIRONMENT

 

The internal environment of the firm consist of the factors within the firm

 

Comprising of its strengths and weaknesses, resources, culture and structure (Beal, 2000)

 

PERFORMANCE MEASURE

 

Performance measurement consist of  the informative methodology of what to measure and how to measure it

 

OBJECTIVE DEFINED

 

The Objectives of the firm is regarded as the outcome or   result of the planned activities of the firm which must be consistent with the mission, targets and objectives of the firm.  (Johnson et al., 2007).

 

STRATEGIC PLANNING DEFINED

 

It is viewed as the science and art of the formulation, implementation and evaluation of cross-functional decisions that enable an organization to achieve its objective. Strategic planning applies the integration of all functional units in the organization consisting of marketing, finance and accounting, operations and production and management to attain organizational success.

 

STRATEGIC MANAGEMENT DEFINED

 

Strategic management consist of  those managerial decisions and actions which channels the resources of the firm towards the attainment of the long term objectives of the firm taking into consideration both the internal and external factors  of external opportunities and threats and  organization‘s strengths and weaknesses . Wheelen and Hungers‘study (2006),

HOW TO GET THE FULL PROJECT WORK

 

PLEASE, print the following instructions and information if you will like to order/buy our complete written material(s).

 

HOW TO RECEIVE PROJECT MATERIAL(S)

After paying the appropriate amount (#5,000) into our bank Account below, send the following information to

08068231953 or 08168759420

 

(1)    Your project topics

(2)     Email Address

(3)     Payment Name

(4)    Teller Number

We will send your material(s) after we receive bank alert

 

BANK ACCOUNTS

Account Name: AMUTAH DANIEL CHUKWUDI

Account Number: 0046579864

Bank: GTBank.

 

OR

Account Name: AMUTAH DANIEL CHUKWUDI

Account Number: 2023350498

Bank: UBA.

 

 

 

FOR MORE INFORMATION, CALL:

08068231953 or 08168759420

 

 

AFFILIATE

https://projectchapters.blogspot.com/

https://15projectz.blogspot.com/

https://myeasymaterials.blogspot.com/

https://googleprojectsng.blogspot.com/

https://myprojectsng.blogspot.com/

https://googleprojectsng.blogspot.com/

https://15projectz.blogspot.com/

https://myprojectsng.blogspot.com/

https://projectchaptersng.blogspot.com/

https://projectfilesng.blogspot.com/

https://projectsng.blogspot.com/

https://academicprojectworld.blogspot.com/

https://projectmaterialng.blogspot.com/

https://projetsoft.blogspot.com/

https://projectdevelopersng.blogspot.com/

https://projectdeveloperng.blogspot.com/

https://myprojectmaterialsng.blogspot.com/

https://360research.blogspot.com/

 

https://easyprojectmaterials.com/

https://easyprojectmaterials.com.ng/

 

https://www.scribd.com/

https://www.academia.edu/