CORPORATE PLANNING AS A TOOL FOR ACHIEVING ORGANIZATIONAL OBJECTIVES
This research work will be based on corporate planning as a tool for achieving organizational objective. Corporate planning is a long –term strategic planning which covers some periods of years longer than one year and typically embraces 3,5,10 year or even longer than that period. Ian organization, corporate plan coordinate the affairs of the organization effectively
In the curse of doing this we bring about the problems that will arise, the significance, objectives of the study and the limitation and the scope of the study some pimple of the study includes,
Flexibility of corporate planning which will aim at setting corporate objective, clarify policies and stage that will provide the essential frame work for realistic operational planning and budgeting.
It will also aim at the improvement of senior or top management to their goal congruence.
It will aim at exposing weakness in the organizational information system and to force improvement which will be made.
The next stage will be chapter two which will deal with hierarchical nature of planning nature of the study and some stage in corporate planning which will entail, considering the best way to move from where organization will future.
This chapter will also explain the importance of the study and the description of the previous research study.
The next stage which is chapter three will show how research will be design. Data will be collect from both primary source of data collection and secondary source of data collection. Primary source of data will include personal interview and questionnaires, while secondary source of already existing data, journals and text books.
Chapter four, will deal with presentation, analysis will use to determine the population that will use in conducting our research. The last chapter will include summary of findings, conclusions and recommendation which also bibliography will be included.
TABLE OF CONTENTS
11 BACKGROUND OF THE STUDY
12 STATEMENT OF THE PROBLEMS
13 PURPOSE OF THE STUDY
14 SIGNIFICANCEOF THE STUDY
15 RESEARCH QUESTIONS
16 RESEARCH HYPOTHESIS
17 SCOPE AND LIMITATIONS OF THE STUDY
18 DEFINITION OF TERMS
(a) CHAPTER TWO
2.0 REVIEW OF RELATED LITERATURE
2.1 DESCIPTION OF PREVIOUS RESEARCH STUDY
2.2 NATURE OF THE STUDY
2.3 STAGE IN CORPORATE PLANNING
2.4 IMPORTANCE OF THE STUDY
2.5 CORPORATE PLANNING AND BUDGETING
2.6 COMPUTER IN CORPORATE PLANNING
2.7 ECONOMIC EFFECT IF CORPORATE PLANNING
2.8 CORPORATE PLANNING INVOLVE FINANCE
(i) CHAPTER THREE
3.1 RESEARCH DESIGN
3.2 AREA OF STUDY
3.3 POPULATION OF THE STUDY
3.4 SAMLE AND SAMPLING TECHNIQUES
3.5 METHOD OF DATA COLLECTION
3.6 METHOD OF DATA ANALYSIS
(ii) CHAPTER FOUR
4.1 DATA PRESENTATION
4,2 DATA ANALYSIS
4.3 TESTING OF HYPOTHESIS
4.4 SUMMARY OF RESUKT
1) CHAPTER FIVE
5.1 SUMMARY OF FINDIGS
11 Background of the study.
Long-term strategic planning is termed corporate planning (c p) and when, it is applied to organizations as long-term plan, it covers periods longer than one year and typically embraces 3,5,10 year or even longer periods.
Moves organizations how been making use of planning discharge of their objectives but, it seems as the short-term or ordinary plan have been used. Under this it was investigated that this short-term plan could on longer cover most of structured objectives of an organizations, therefore, the introduction and application of corporate (long-term)planning arrived.
In an organizations ,this is implied so to coordinate the affairs of the organization effectively. Therefore, it could be understand as the formulation, evaluation, and selection of strategic which involves a review of the objectives of an organizations so as to see the proper display of responsibilities. As most corporate plan is time consuming, which involves comprehensive statement of all the financial consequences and assumption, it is then necessary that organizations employing (c p)should as well, make use of computer base models. Also, the application of corporate planning in an dynamic and flexible.
This will enable, reviewing the plan regularly in anticipation of unexpected events such as sudden loss of large market or source of supply of raw-materials due to a coup or some of technological break through.
Ø statement of problem
Corporate planning exist in an organization so as to help satisfy the various wants of interest groups. These include the investors., the analysis, the workers and decision makes. It also, meant to satisfy the present and future objectives. But there are some problems which set back the execution follow:
v poor forecast of Relevant Environmental factor: If a firm fails to put real forecast about important environmental factor, which will include (expected economic, political, social, technological, competitive) and other factor which will effect the organization over the time period of the plan, it will course the organization not to rise to poor assumption about the environmental factors.
v Lock of corporate planning objectives:
Due to lack of corporate objective or specific objectives necessary for corporate planning it may not be easy to quantify even those factors which may be of qualitative in nature. The objective of plan is the most important aspect of any planning which sieves as guidance to execute the planning.
Ø Lack of strategies:
An organization which doesn’t have an agreed strategies which would help them achieve the objective with time scales carry out their activities or fulfill their objectives within the end of the agreed planning period.
Deride of Divisional/ Departmental plan:
Due to non-existence of divisional plan, it will be very difficult for an organization to operate prefecture, in discharge of the said plan and objective, this is because, the existence of division and departments will support the strategies already set out
Ø Poor financial implication:
This is a crucial section in corporate planning which if doesn’t have in the system, it will paralyses the operations. In This, it include forecast financial statistics.(Turnover, capital employed, net Assets employed , profit percentage) etc. In addition, application of funds statement
Ø Inadequate personnel Implication:
If a firm lacks proper personnel structure, it will also make the operation of corporate plan ineffective. Personnel implication helps to corporate department plans and thereby enhancing the discharge of objectives effectively without much complication.
Ø Purpose of The study.
The aim and objective of this study is to examine flexibility and dynamic ways of corporate planning which enables an organization to review the discussed in respect of the study so as to see the impact of the plan:
v Flexibility of corporate planning aim to setting corporate objectives clarify policies and strategies that provide the essential and fraise work for realistic operational planning and budgeting. This objective will help the organization to carry out its plan creditability.
v Dynamic and flexible of corporate plan has its objective as to coordinate the differing aspect of the organization and help to avoid sub-optimality.
v Having corporate planning as a background, aims at avoiding undue concentration on short-term factors and facilities, those policies which by their nature are long-term in nature,(capital investment, acquisition and divestment) career planning and organization restructuring .
Ø The aim of corporate planning is to expose weakness in an organization information system and to force improvement to be made.
v Also, it aims at the improvement of senior or Top management to their goal congruence.
1.4 Significance of The study
This study is significant in various ways. it will draw attention to the various organizational structures and relevant of corporate planning which could be compatible in an organization. It will manifest in the area of mangers and supervisors to be conscious of certain factors which may call for a style of plan to be adopt in their organization. Further more, the study will manifest also in an organizational structure and the choice of planning in the management practice of Nigerian managers.
Meanwhile, the study is an added discuss to related issues by some eminent scholars, some of whose works are reviewed in the next chapter. It will also sieve as a reference for potential researchers who
may be interested in the same or related topic.
1.5 Research Question:
In order that the purpose of this research should be guided, the following research question has been asked
1 Is corporate planning needed in an organization structure?
Ii Did managers need corporate planning in discharge of their duties?
iii. Is there any problem that arises from corporate planning?
Iv Does it means that without corporate planning organization could not achieve their aim?
v. Did corporate planning an organization lies on corporate planning
vii. Does it required stage in corporate planning?
viii. Is there contribution of the personnel in corporate planning?
ix. Should corporate planning be flexible and dynamic?
x. Did corporate planning requires financial implications ?
xi. Does it need to consider environmental factors before implementing corporate plan?
xii. must corporate planning requires or need computer applications?
xiii Is there any adverse effect in application of corporate planning ?
xiv Do you agreed that corporate planning involves shoot analysis?
xv. Did corporate planning relate to budgeting?
1.6 Research Hypothesis.
1. Ho: Fifty percentages of managers do not operate on corporate planning.
Hi. Fifty percentages of managers operates on corporate planning.
2. Ho: corporate planning is not needed in an organization.
Hi: corporate planning is not needed in an organization.
3 Ho: corporate planning has an objective.
Hi: corporate planning has objective.
4 Ho: Environmental factor is not considered in corporate planning
Hi:: Environmental factor is considered in corporate Planning
5. Ho: There is an adverse effect in application of corporate planning.
Hi: There is an adverse effect in application of corporate planning.
6. Ho: corporate planning did not involve financial implication.
Hi:: corporate planning involve financial implications.
1.7 Scope And Limitations of study
Scope of The study.,
Given the geographical area of the study, it is worthy of, that Enugu State Women Development center, operates on the implementation of corporate planning which could also found in other big organizations in Nigeria.
The study therefore, concentrates on what is available and relevant to the topic. To this end, emphasis was laid on the exposure of nature and implementation of corporate planning.
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