1.1 Background to the Study
It is no longer a controversy that we
live in a globalised world characterised by fast information transfer
across large geographic areas by means of the Internet. The consequence
of this globalization is the emergence of policy making and
implementation-based economies where importance is placed on effective
management of human capital to ensure that workers continue to create
the right value for the economy. Nowadays, organisations no longer
compete solely on the basis of financial capital and strength but policy
making and implementation is the new competitive advantage in business.
In fact the Gross Domestic Product (GDP) growth rate is now determined,
amongst other factors, by the quantum and quality of knowledge stock
harnessed and applied in the production process in sectors of the
Every organization aims
to survive and grow in a competitive environment. To do so, it must
respond and adjust to the social, economic and political environmental
changes that occur. The environments of public organizations according
to (Bryson, 2004) have become not only increasingly uncertain in recent
years but also more tightly interconnected; thus changes anywhere in the
system reverberate unpredictably, and often chaotically and dangerously
throughout the environment. This increased uncertainty and
interconnectedness requires a response from public organizations. First,
these organizations must think strategically as never before. Second,
they must translate their insights into effective strategies to cope
with their changing circumstances and lastly, they must develop the
rationale necessary to lay the ground work for the adoption and
implementation of their strategies.
Strategic decision making,
or strategic planning, involves in the process of creating an
organization's mission, values, goals and objectives. Deciding upon an
action plan, an organisation also involves in changing strategies based
on outcomes being observed. Strategic decision making can transform
companies into large groups and industries. Directors of organisations
are endowed with the ability to make policy quickly, sometimes with
limited information. The process of policy making utilizes metrics that
provide a real picture of the organisation, creating the necessary
motivation for the development of a policy making. According to a survey
taken, the process of strategic decision making can be executed in a
few steps and the selected strategy must be sufficiently robust to
enable the organisation to perform activities differently from similar
activities in a more efficient manner. Error from strategic policy
making can affect individual economic decisions; it has impacts on
corporate strategic planning as well. Financial goals and financial
performance can have a big impact on the policy making process,
particularly in the implementation stage.
In order for organisations to improve
their performance management capabilities and drive profitable growth,
they need to take a comprehensive approach that not only implements
driver decisions, but also uses the decision to systemically link
business strategies with the market, competitor, operational and
financial forces that drive value and, by extension, good
decision-making. Organisations waste less time and money on collecting,
formatting and analyzing distracting and often irrelevant data points.
This project however, aimed at examining policy making and
implementation as a tool for organisational growth.
1.2 Statement of the Problem
Most organizations, especially in
Nigeria, strategic plans are not carried out and implemented properly.
Some public organizations do not attach any importance to strategic
planning and therefore do not have strategic plans for their
organizations. This could be due out to lack of appreciation and
knowledge of the relevance of policy making and implementation to
organizational growth. In a bid to address this ugly development, there
is a need to critically assess the relevance of policy making on
organizational growth in Nigeria to enable management appreciate its
worth in gaining competitive advantage at the market place.
1.3 Research Questions
These are some of the questions the study is designed to answer:
i) what is the prevalence of policy making and implementation as a tool for organizational growth?
ii) what are the challenges facing policy making and implementation for organizational growth?
iii) what are the relevance of policy making and implementation on organizational growth?
1.4 Objectives of the Study
The objective of this study was to
investigate examining policy making and implementation as a tool for
organisational growth. The specific objectives are:
i) to examine the prevalence of policy making and implementation as a tool for organizational growth
ii) to identify the challenges facing policy making and implementation for organizational growth
iii) to investigate the relevance of policy making and implementation on organizational growth
1.5 Significance of the Study
The findings from this study will be of
great value to policy makers, stakeholders, board of directors and Human
Resource Managers, as it will assess the relevance of policy making and
implementation on organizational growth, clarify the challenges and the
ways to meet them. Researchers in related areas will also find the
study a useful literature for reference.
1.6 Scope of the Study
This study covered both private and
public organizations in Nigeria. The data gathered from the respondents
were subjected to further analysis.
1.7 Limitation of the study
The only constraint encountered by the
researcher was finance. This limited the researcher to print just one
hundred and twenty questionnaires as against the proposed two hundred
and fifty questionnaires. The researcher, however, came up with findings
that would be worth making reference to in future and also contribute
to the existing literature.
1.8 Definitions of Terms
The following terms were used in the course of this study:
Policy making: the formulation of ideas or plans that are used by an organization or government as a basis for making decisions
Implementation: the process of putting a decision or plan into effect; execution.
Organisational growth: getting focused on important goals, and involving others in achieving them.
Atish Hemade, (2014). Why Strategic Decision Making is an Important Process for your
Organization? Retrieved from https://www.linkedin.com on the 5th of August, 2017.
Bryson John, M. (2004), Strategic Planning for Public and Nonprofit Organizations; A guide
to strengthening and sustaining Organizational achievements, San Francisco Third Edition. Jossey-Bass.
Gregg Clark, (2013). Five Ways to Improve Your Decision-Making and Grow Your