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Effect of Corporate Strategic Planning on the Performance of Food and Beverage Industry in Nigeria

Effect of Corporate Strategic Planning on the Performance of Food and Beverage Industry in Nigeria

Project / Seminar Material
Reference ID: PS-14227-TM

DEDICATION

This research material titled “Effect of Corporate Strategic Planning on the Performance of Food and Beverage Industry in Nigeria” is dedicated to God for his enabling grace, and to all computer enthusiasts who contributed to make life a pleasant experience during my research documentation.

ACKNOWLEDGEMENT

I extend my sincere gratitude to all those who contributed to the completion of this project. Special thanks to my Supervisor (Name of your Supervisor), the Head of Department (Name of your HOD), the Lecturers in the department of Business Administration and Management (BAM), Book Authors and Profound Scholars of existing or related project material on “Effect of Corporate Strategic Planning on the Performance of Food and Beverage Industry in Nigeria” for their invaluable guidance, support, and expertise throughout the journey.

I am also grateful to your study area (mention any funding organizations, if applicable) for their financial assistance. This research would not have been possible without the encouragement and assistance of some stakeholders (mention any mentors, teachers, or colleagues). Additionally, I would like to acknowledge the understanding and patience of my family and friends during this endeavor. Your unwavering support has been a constant source of motivation. Thank you all for being part of this meaningful endeavor.

TABLE OF CONTENTS

PRELIMINARY PAGES

CHAPTER ONE

INTRODUCTION

    CHAPTER TWO

    LITERATURE REVIEW

    • 2.1 Introduction
    • 2.2 Conceptual Review
    • 2.3 Theoretical Framework
    • ⋮
    • 2.4 Empirical Studies

    CHAPTER THREE

    RESEARCH METHODOLOGY

    • 3.1 Introduction
    • 3.2 Research Design
    • 3.3 Population of Study
    • 3.4 Sampling and Sampling Technique
    • 3.5 Validation of Research Instrument
    • 3.6 Method of Data Collection
    • 3.7 Method of Data Analysis
    • 3.8 Questionnaire Administration
    • 3.9 Ethical Consideration
    • 3.10 Statistical Analysis

    CHAPTER FOUR

    DATA ANALYSIS, RESULT AND DISCUSSION

    • 4.1 Introduction
    • 4.2 Presentation and Analysis of Data
    • 4.3 Re-statement of Research Questions
    • 4.4 Test of Hypotheses
    • 4.5 Discussion of Findings

    CHAPTER FIVE

    SUMMARY, CONCLUSION AND RECOMMENDATION

    • 5.1 Introduction
    • 5.2 Summary of Findings
    • 5.3 Conclusion
    • 5.4 Recommendation
    • 5.5 Suggestion for Further Study

    REFERENCES

    APPENDIX A - “QUESTIONNAIRE”

    Effect of Corporate Strategic Planning on the Performance of Food and Beverage Industry in Nigeria

    CHAPTER ONE

    Introduction

    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) is indispensable for the food and beverage industry in Nigeria –to be more proactive and secure the future. The research therefore seek to investigate the Effect of Corporate Strategic Planning on the performance of food and beverage industry in Nigeria –

    1.2 Statement of the Problem

    The growing significance of the food and beverage industry in Nigeria 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 the industry is faced with the challenges of formulating and implementing strategic plans. The inability to be proactive and secure the future with success has been the reason for the poor performance and inability to grow rapidly of the food and beverage industry in Nigeria. Consequently management experts have advocated the need for the food and beverage industry 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 the industry 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 Effect of Corporate Strategic Planning on the performance of food and beverage industry in Nigeria –

    1.3 Objectives of the Study

    1. To appraise the nature and effect of strategic planning on food and beverage industry in Nigeria
    2. To determine the Effects of strategic planning on the performance food and beverage industry in 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

    1. What is the strategic planning?
    2. What is the effect of strategic planning on the performance of food and beverage industry in Nigeria?
    3. What is the Effect of Corporate Strategic Planning on the performance of food and beverage industry in Nigeria –

    1.5 Significance of the Study

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

    The growing significance of the food and beverage industry 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 the industry is 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 the poor performance of the food and beverage industry and many folding up of and as well as their inability to grow rapidly. Consequently management experts have advocated the need for the food and beverage industry 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 Effect of Corporate Strategic Planning on the performance of food and beverage industry in Nigeria is low

    HI The Effect of Corporate Strategic Planning on the performance of food and beverage industry in Nigeria is high

    1.7 Scope of the Study

    The study focuses the appraisal of the Effect of Corporate Strategic Planning on the performance of food and beverage industry in 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),

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    CHAPTER TWO

    2.0 Literature Review

    2.1 Introduction

    This chapter focuses on the review of related literature. A literature review includes the current knowledge as well as theoretical and methodological contributions to a particular topic. It documents the state of the art with respect to the topic you are writing. It surveys the literature in the topic selected. In this research work the literature review includes the …

    Summary Headlines for Effect of Corporate Strategic Planning on the Performance of Food and Beverage Industry in Nigeria



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