PRACTICE OF STRATEGIC PLANNING AND IMPLEMENTATION ON THE OPERATIONS OF PZ INDUSTRY PLC
ABSTRACT
This study is intended to evaluate the effect of strategic planning and implementation on the operations of PZ Industry. The key to strategic implementation and control for any organization is the marketing plan. This plan indicates what strategic goals are and how they will be accomplished. This research provides managers with the information they need to analyze product markets, competition and product performance with regards to the marketing plan. Marketing research provides information for strategy implementation and long term planning. The beginning of the implementation phase is signaled y a decision to proceed with a new program or strategy and by the related commitment to objective, budget and timetables.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
Strategic planning Has been defined as the process by which management identifies opportunities and threats from all over the world, formulated strategy to handle them and stipulate how to finance the strategy implementation (Ball et al 2014). It has been noted that failures recorded in some organizations is due to poor or lack of strategic planning. These failures were attributed to factors like choice of executive officers, lack of cooperate planning and inability of the company to employ qualified and competent personals. As a result of the above mentioned problems facing the organization this research is conducted so as to enable organization to understand the important of strategic planning as well as helping them to avoid those problems facing the organization.
1.2 STATEMENT OF THE PROBLEM
This study intends to investigate the practice of strategic planning on the operations of an industry or business organization.
1.3 PURPOSE OF THE STUDY
The purpose of the study includes.
i. To identity the extent to which practice of strategic planning and implementation can affect the operation of an organization.
ii. To investigate how a change in strategic planning can affect the structure of an organization in accomplishing it’s objectives
iii. To improve the knowledge of management on the need for strategic planning and how it can improve the organizations performance.
1.4 SCOPE OF THE STUDY
There are many industrial firms in the company. Through this topic limits the researcher to the study of how practice of strategic planning and implementation can affect the operations of an industry. Furthermore the researcher concentrated on the staff of pz industry of the Onitsha branch in Nigeria.
1.5 RESEARCH QUESTIONS
i. Does the organizations structure affects the strategy of the organization?
ii. Is there any relationship between a change in strategy and organization objectives?
iii. To what extent has strategic planning and implementation helps the organization in achieving it’s objectives?
1.6 LIMITATION OF THE STUDY
During the research process have limited resource money, which is needed to run around going to library, going to the company to gather some reliable information about strategic planning and implementation and how it affects the operations of pz industry plc. Poor attention of personnel in the company because they are always busy. Also the combination of final year lectures and writing of this particular project and many other things that are associated with final year in school limits our time to enough data about this particular topic.