ABSTRACT

Corporate planning involves planning for an organization as a whole. It involves the acceptance that the enterprise does not operate in a vaccum and that its activities are affected by what goes on its environment. Thus, the ability of the management to understand the environment, make good forecast and then choose a proper course of action is the main thrust of this research. The major problem of this study is the ever dynamic nature of the environment and the unforseen circumstances that always arise. The major objective of this study is to know the extent to which organizations get involved in corporate planning so as to be able to anticipate and know how to respond to changes in the environment. The hypothesis are the null and the alternative. The null Ho states’ that corporate planning has no impact on the performance of the organization and alterantive Hi states that corporate planning has impact on the performance of the organization for the presentation and analysis of research work, simple percentage was used but for testing of the hypothesis as well chi-square was used. The major finding of the research is that for an organization to grow and survive in its comptitive environment and also in the presence of some unforeseen circumstances in the future, the management should be able to anticipate and roespond to changes in the environment. It is concluded that corporate planning has a great impact on the performance of the organizatin as engaging on it bring much better results than if not done. Proper recommendation is that organization should take corporate planning serious and managers should have adequate and effective system on monitoring and control to make sure that events conform to plans.

CHAPTER ONE

INTRODUCTION

1.1      BACKGROUND OF THE STUDY

As the name implies, corporate planning involves planning for an organization as a whole. It is a systematic approach to strategic decision making. Corporate planning indicated a holistic approach for winning the goals of any organization.

In general, planning is a management system, a process of allocating, effective and efficient use of scarce resources of any organization to bring home its objectives and goals over a specific period of time. The principal motive of any business organization is to increase the value of the owners equity. The objective of any organization are achieved by effective and efficient use of its resources.An organization has mainly two types of resources:- the human resources and the monetary resources. All the resources are monetary except the human resources. Corporate planning can boost an organization to maximize the utilization of its resources and fashion in a befitting manner to attain the enhancement of the shareholders wealth which is the basis of any corporate business. Corporate planning can yield many benefits for all types of business organization. It encouraged management to think ahead systematically, it forces the company to sharpen its objectives and policies, leads to coordination of organization’s effort and provides clear performance standards for control, sound planning helps the organization to anticipate and respond quickly to changes in the environment and take precautions for sudden changes and developments. For instance, banks adopt precautionary measures during global financial crisis.

Corporate planning involves the acceptance that the enterprise does not operate in a vacuum and that its activities are affected by what goes on in the world around it. It also questions – what can be done today to be ready for an uncertainty tomorrow. Thus the ability of the management to understand the environment, make good forecast and then choose a proper course of action that will enhance its existence as a corporate body. How well management have been or will be in doing this is the main thrust of this research.

1.2      STATEMENT OF THE PROBLEM

The future posed a serious problem to every business organization. All responsible managers see the continued existence of their organization as a major task of the management.

Some of the problems an organization faces in achieving their goals are:-

a)Failure to plan which leads to planning of its failure.

b)Many organization today are not proactive rather reactive and focuses on the next quarter.

c)The day-to-day management system are not linked to strategy/plan so managers are not considering plan when they make decisions.

d)There are unforeseen external circumstances which the management can do nothing about…..