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Abstract
The purpose of the study is to examine the impact of corporate planning and enterprise success in selected money deposit banks in Rivers State. The descriptive statistic was adopted. The population of the study is 100. The Taro Yamen’s formula was used to determine the sample size of 80. A self design questionnaire was use for data collection from the respondents. The simple percentage is use to analyse the research questions. Findings revealed that there is a significant relationship between corporate planning and enterprise success. Based on the findings, we recommended that decisions should be clear and attainable, must be precise and measurable because the more precise the objective is, the more measurable goal it is and easier to achieve it, and should always remain valid. the objectives should convert the strategic vision into specific performance targets, results and outcomes the company management wants to achieve and then use these objectives as yardsticks for tracking the company’s progress and performance, management should be based on documentable information and not simple guesswork and judgment, it should be viewed as positive and be conducive to self-control, organization structures should enable individual teams deal with specifications, the organization structure should have hierarchical level of authority and the number of subordinate under the control of each line managers, should duties and responsibilities overlap or should each member be held responsible for single functions and specialize in it.
Table of Contents
Title Page………………………………………………………………………i
Cover Page ii
Declaration iii
Certification iv
Dedication …………………………………………………………………….v
Acknowledgements vi
Abstract vi
Table of Contents viii
List of Tables x
List of Figures xi
CHAPTER ONE 1
INTRODUCTION 1
1.1Background of the Study 1
1.2Statement of Problem 2
1.3 Objectives of the Study 4
1.4 Research Questions 4
1.5 Research Hypotheses 5
1.6 Significance of the Study 5
1.7 Scope of the Study 5
1.8Definition of Terms 7
CHAPTER TWO 9
LITERATURE REVIEW 9
2.1 Conceptual Framework 9
2.1.1Concept of Corporate Planning 9
2.1.2Dimensions of Corporate Planning 11
2.1.3Concept of Enterprise Success: 13
2.1.4Measures of Enterprise Success 14
2.2 Theoretical Framework 19
2.2.1 Strategic Planning Models 19
2.2.2Basic Strategic Planning Model 19
2.2.3Issue – Based (Or Goal – Based) Planning Model 20
2.3 Empirical Framework 21
CHAPTER THREE 23
RESEARCH METHODOLOGY 23
3.1 Research Design 23
3.2 Population of the Study 24
3.3Questionnaire Design 25
3.4Source and Method of Data Collection 25
3.5 Sample and Sampling Techniques 26
3.6 Data Analytical Techniques 27
3.7 Reliability and Validity Error! Bookmark not defined.
CHAPTER FOUR 28
DATA PRESENTATION AND ANALYSIS 28
4.1 Data Collection and Presentation 28
4.2 Data Analysis 29
4.3 Testing of Hypothesis 34
4.4 Discussion of Findings 34
CHAPTER FIVE 37
SUMMARY, CONCLUSION AND RECOMMENDATIONS 37
5.1Summary 37
5.2 Conclusion 37
5.3 Recommendations 38
References…………………………………………………………………….40
Appendix I 43
Appendix II 44
List of Tables
Table 4.1: Questionnaires Administration and Retrieval 28
Table 4.2: Show age bracket of respondents 29
Table 4.3: Show sex of respondents 29
Table 4.4: Academic qualification 30
Table 4.5: Marital status 30
Table 4.6 Does policy implementation influence enterprise success in selected money deposit banks in Rivers State. 31
Table 4.7: Does time management influence enterprise success in selected money deposit banks in Rivers State 32
Table 4.8: Does decision-making influence enterprise success in selected money deposit banks in Rivers State. 33
Table 4.9: Does policy implementation influence market share in selected money deposit banks in Rivers State 34
Table 4.10: Contingency Table Error! Bookmark not defined.
Table 4.11: Chi-Square Table Error! Bookmark not defined.
List of Figures
Figure 2.1: A Conceptual Framework showing the Relationship between Corporate Planning and enterprise success. 9
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
The development of corporate planning in business 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 labor. Most companies used to have annual budgets or yearly financial plans to ensure their liquidity Imaga, (2000).
Enterprise success measures how well a company meets the individual objectives of its business plan. It lies in understanding how each element can support or restrain the other, on how to balance the dynamics between the elements to determine the most constructive solutions in any situation. The concept of enterprise success has been widely studied at a global level. The theoretical framework that has been often adopted in the study of enterprise success is that of organizational performance, originally stemming from organizational effectiveness. Within this framework success of an enterprise is measured using organizational performance indicators. Initially, these indicators were largely economic, looking at return on investment, profitability, sales and employment as measures of success (Wiklund, 2009).
Corporate planning is the act of creating a long-term plan to improve your business. A corporate plan examines a business’s internal capabilities and lays out strategies for how to use those capabilities to improve the company and meet goals. Think of a corporate plan as a road map laying out everything you need to do to achieve your future goals and reach new levels of success. The plan looks at each sector of a business and makes sure that all parts are aligned, working towards similar goals. Corporate planning is often looked at through a SWOT analysis (strengths, weaknesses, opportunities, threats). Further, it usually starts with broad goals and works its way towards a much more detailed analysis, laying out exactly how objectives will be reached.
In corporate planning, top management is concerned with the future direction of the business as a whole, such decisions taken are long-term in nature and are bound to have far reaching implications on employment.
1.2 Statement of Problem
Planning is vitalto the performance management in meeting its goals and objectives. The relationship between the planning function and the performance management is uncertain(Bloom, Genakos, Martin &Sadun, 2011). Among differentmanager’s decisions on corporate planning is a complex process that must be understood completely before it can be practiced effectively. Those responsible for strategic planning face a task of extreme complexity and uncertainty. Furthermore, planning in small firms is generally typified by intense personalisation and is highly influenced by the preferences, experiences, attitudes, prejudices, and general personality sets of the firm (Goldstein & Ward, 2014).Thus, the existence of diverse planning processes in small businesses should be expected but with little or no resemblance to the planning process found in large organisations.
For these reasons, over the past decades, numerous studies have been conducted on the construction of models to aid managers and executives in making better decisions concerning the complex and highly uncertain business environment. In spite of the work that has been conducted in the area of corporate planning we still know little about factors influencing it. Results show that researches on contextual factors influencing corporate planning processes are either limited or have produced contradictory results especially studies relating to decisionson familiarity magnitude of impact, organizational size, banks performance, dynamism hostility, heterogeneity, industry, cognitive diversity, cognitive conflict, and manager’s need for achievement of corporate planning processes (Awino&Mutua, 2014).Therefore this work seeks to assess the prospect of corporate planning in the achievement of enterprise success.
1.3 Objectives of the Study
The main objective of the study is to examine the relationship between corporate planning and enterprise success in selected money deposit banks in Rivers State. The specific objectives are as follows:
i. To examine relationship between policy implementation and corporate planning and enterprise success in selected money deposit banks in Rivers State.
ii. To examine the relationship between time management and corporate planning and enterprise success in selected money deposit banks in Rivers State.
iii. To examine the relationship between decision making and corporate planning and enterprise success in selected money deposit banks in Rivers State.
1.4 Research Questions
The following research questions are postulated to guide the study
i. To what extent does policy implementation influence enterprise success in selected money deposit banks in Rivers State?
ii. To what extent does time management influence enterprise success in selected money deposit banks in Rivers State?
iii. To what extent does decision-making influence enterprise success in selected money deposit banks in Rivers State?
1.5 Significance of the Study
This research derives its significance from its usefulness to management of small and big organization, governments and students. This work will be of great importance to the following group of people. The potential and prospective managers might find this work useful as a guide to better business initiative and management towards ensuring proficiency, efficiency and effectiveness
The policy making arms of the government could also appreciate this work and thus make good policies in favor of corporate planning development in Nigeria considering the role it plays in Nigeria economic development. Other researcher could as well find this work very useful for further research work as a reference material
1.6 Scope of the Study
The study is delimited under the following heading: content scope, geographical scope and unit of analysis.
Content Scope: The content scope of this study involves on investigation to ascertain the relationship between corporate planning and enterprise success. The dependent variable is enterprise success, measures by market share, sales volume and profitability while the independent variable has a dimension of policy implementation, time management and decision making.
Geographical Scope:The geographical scope of the study is limited to selected money deposit Banks in Port Harcourt which includes Eco Bank at No. 280 Aba Road, First Bank at No. 315 Aba Road and Access Bank at No. 316 Aba Road, Port Harcourt.
Unit of Analysis: The units of analysis are made up of selected senior staff of Eco, First and Access Banks at the time of the study.
1.7 Limitations of the Study
In carrying out an investigation of this nature the researcher must of necessity be faced with certain constraints which may include;
The attitude of respondents toward the researcher’s questionnaire was limited, thus the study cover a small portion of the survey population.
The fund available to the researcher was also limited and therefore the study was limited to a small portion of the survey population.
Another limitation is the difficulties, encountered by the researcher in obtaining all needed information and materials from the right source and compilation of data for the project.
1.8 Definition of Terms
There is need for every work in a research proposal and of course in any research report to be clear as to its meaning, since words have different meaning in different context.
Corporate Culture: This is the totality of the shared beliefs, values, norms and expectations by organizations members which are transmitted from generation to generation.
Corporate planning: Is be defined as an organization’s sense of purpose and is concerned with an organizations basic direction future.
Decision-making: Is regarded as the cognitive process resulting in the selection of a belief or a course of action among several alternative possibilities.
Discipline: Is the suppression of base desires, and is usually understood to be synonymous with self-control restraint and control.
Planning: This is the act of determining in advance possible future work of action.
Policy implementation: Is defined as the third stage of policy cycle its means the stage of the policy process immediately after the passage of a law, or the action that will be taken to put the law into effect or that the problem will be solved.
Profitability: Is the ability of a business to earn a profit.
Time management: Is the process of planning and exercising conscious control over the amount of time spent on specific activities especially to increase effectiveness, efficiency or productivity.