Introduction
1.1 Background Of The Study
Effective planning is crucial to management of business enterprise, because it begins with the determination of a business outfit to effectively plan, design, strategize and other tactical ways aimed at achieving set goals and objectives. Many industries are facing high failure rate due to enormous waste of funds, ineffective management plan and financial crises. This could be attributed to poor planning strategies. Consequently, many of these industries are finding it difficult to maintain the volume of input that will keep them in business. Cases abound of many industries which have folded up as a result of scarcity of major managerial and planning inputs needed or necessary for their survival. Many indigenous industries are often pre-occupied with results to be achieved that they set aside reflections on the future of their business or enterprise so those that have every narrow concept of their business, do not plan because they cannot control most of the variables. To this group of industries, planning is not a necessity but an activity that is undertaken when the daily pressure of doing business no longer exist. However, management of small and medium scale enterprises or industries have studied their business environment and are now aware of the need for planning. Planning is now essential in recent threshold of frightening business financial plights (economic meltdown). The evolution of an effective planning reduces the risk of business failure, enormous financial waste and uncertainty and may create employment due to determining course of action in years to come.
1.2 Statement Of The Problem
In these prevailing harsh economic situation and downturn in Nigeria, most small and medium scale industries find it difficult to cope where some are breaking even. This is attributed to the inadequate or lack of planning on the part of these companies and that has placed them in a disadvantages position such that they cannot compete favourable with their competitors. Lack of planning has made them to be short sighted in their activities which have affected them negatively.
1.3 Purpose Of The Study
The purposes of the research or study work are as follow:
- The study is aimed at examining the concept of managerial planning in manufacturing industries as a means of improving productivity, better work and profitability in manufacturing industries.
- To highlight the role or need in determining how to make good plans to effective performance.
- To examine the impact of managerial planning in raising the firm standard of general work performance.
- The research study will examine the appropriate and relevance of various planning skills, process and type as they affect the standard of performance in the industry.
- To help prepare for the future.
- To improve the quality of the product in the organization.
1.4 Research Questions
- Are there effective management planning in Bendel Feed Flour Mill, Ewu?
- Does effective planning improve the quality of goods and services in the organization?
- Does effective planning increase profitability?
- Are monies utilized in the various departments of the organization effectively planned for?
- Does effective planning help in attaining the objective of the organization?
- Are plans adequately made in order to meet the standard of the target market?
1.5 Research Hypotheses
Hypothesis I
- Ho: There is no significant relationship between planning and better performance in a manufacturing industry.
- Hi: There is a significant relationship between planning and better performance in a manufacturing industry.
Hypothesis II
- Ho: There is no significant relationship between planning and organizational growth.
- Hi: There is a significant relationship between planning and organizational growth.
1.6 Scope Of The Study
The study set out to investigate the impact of planning on organizational performance of a manufacturing company, a case study of Bendel Flour Mill, Ewu. This study shall be restricted to the said case study but its findings could be generalized to cover the manufacturing industries in Nigeria.
1.7 Significance Of The Study
The current economy has made it extremely important for every organization to minimize cost, risks and losses especially those generated with the organization in the normal course of operations. To minimize all possible losses, it is essential for management to have an effective planning system in all areas of operations in an organization. More so to provide direction and a sense of purpose for any organization and to reveal future opportunities, threats and provide a unifying framework for decision making in the organization. Planning is an essential feet, the need for planning in any company cannot be over-emphasized. Hence, this research work impact of planning will be of paramount significant to: 1. Management and captives of industries in terms of planning. It will be of help to them to know the impact of planning in an organizational performance in term of effectiveness and otherwise.2. The work will also be of significant to student in the field of business administration, i.e acquainting them with the knowledge on the subject of planning.3. The work will also serve as a guide to researchers in the subject matter under study
1.8 Definition Of The Terms
(i) Planning:
This refers to setting objectives, assessing the future and developing courses of actions to accomplish these objectives.
(ii) Development:
This refers to activities that increase the ability of employees to progress with the organization and to change its growth.
(iii) Efficiency:
The ability to minimize the use of resources in achieving organization objectives.
(iv) Performance:
Achievement in terms of profitability and output. (v) Evaluation: This is designed to compare job systematically with a view of accessing their relatives.
(vi) Goals:
The basis of direction of an organization, its purpose, mission and objectives.
(vii) Manufacturing:
It is the process of making and producing tangible goods on a large scale of machine or tools.
(viii) Profitability:
This is the difference between output and input in positive terms.
(ix) Production:
This refers to any activity carried out in the process of making goods and services.
(x) Risk:
This is the variability associated with expected revenue streams.
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