STRATEGIC PLANNING AS A TOOL FOR CORPORATE SURVIVAL (A CASE STUDY OF CADBURY NIG. PLC)
is on strategic planning as a tool for corporate survival with reference to
Cadbury Nigeria Plc , Agidingbi, Ikeja, Lagos.
Effective management of business environmental
changes depends on careful planning. Strategic planning has been the
cornerstone of business organization survival, because of numerous benefits
derived from a well formulated and implemented strategic planning.
In setting firms strategy, various elements such as
objectives, resources and opportunities are put into consideration. The
organization conducts its business environment situation analysis I order to
identify its strengths, weakness, threats and opportunities (SWOT). Towards
this, there are basic steps in strategic planning which enables the enterprise
to develop strategic options. The chosen strategic options need to match
organization opportunity with the strengths so as to achieve corporate objectives.
The process of strategic planning is a useful
framework for business management. It bears heavily in organization success or
failure, when all the spectrum of strategic planning are done well, an
organization may overcome inefficient use of internal resources but it is
unlikely for the organization to survive with poor strategies.
The project ends with recommendations of
quantitative forecasting technique in addition to judgment and assumptions,
which are common with some business organizations today.
1.1 Background of Study
1.2 Statement of Problem
1.3 Objectives of Study
1.4 Research Questions
1.5 Research Hypotheses
1.6 Significance of Study
1.7 Scope and Limitation of Study
1.8 Historical Background of Study
1.9 Definition of Terms
2.1 Nature of Strategic Planning
2.2 Corporate Planning Approach
2.3 How to Develop Strategic Plan
2.4 Strategic Planning Process
2.5 Characteristics of Strategy
2.6 Criteria for Effective Strategy
2.7 Types of Strategies
2.8 Strategic Management
2.9 Formulation of Strategy
2.10 Objectives and Goals
3.0 Characteristics of Population
3.1 Research Sample
3.2 Methods of Data Collection
3.3 Procedure of Statistical Analysis
3.4 Research Design
4.0 Data Analysis and Explanation of Data
4.1 Testing of Hypotheses
5.0 Summary of Findings
Appendix A Questionnaire
Appendix B Questionnaire
BACKGROUND OF STUDY
In order for an organization
to thrive succeed in its environment of operation and achieve its set
objectives and goals, there exist fundamental environmental forces that
influence management decision making (formulation and implementation of policy)
Organization must adapt to
these environmental forces as they plan and carryout their strategies and
The success of the
organization or its failure is determined largely by how well it recognizes and
adjusts to planning. Organization can predict changes in environmental forces
that will influence business direction through strategic planning.
Planning covers the whole
process of determining what purpose to pursue and the means of attaining them
as well as the mechanism for monitoring results.
Planning helps organization
define their purpose and activities. All managers at various levels in the
organization plan. Planning is one of the important managerial functions. Its
importance can be deduced from the popular adage – He, who fails to plan, plan to fail. Thus, for a manager to
succeed, he has to plan.
It is therefore, the
responsibility of managers to make use of a firm’s resources in adjusting to
the changing environment. Activities carried out by the organization should
stem from strategy. Non existent or poorly defined strategy results in
ineffective utilization of resources.
This project therefore,
attempts to study the significance of a well-formulated strategy as a basis for
1.2 STATEMENT OF PROBLEM
Managers are confronted with
the problems of defining the company’s objectives, adoption of strategies and
how to monitor results for the survival of their organization.
These problems of formulating strategies
to deal with environmental changes require information and technique for good
decision-making by managers.
This study therefore, is to
identify how and why strategic planning is necessary for the survival of any
1.3 OBJECTIVES OF STUDY
This project focuses on the
extent to which strategic planning is a tool for corporate survival.
The objective of this study
to conceptualize what strategic planning is
to know steps in strategic planning in running modern organization
to learn why strategic planning takes place
to know how strategic planning works towards corporate survival.
At the end of this project, it
can be established that strategic planning is important to both small and large
scale businesses because it determines its viability, continuity and
1.4 RESEARCH QUESTIONS
In order to probe into the
research project comprehensively, the following questions were formulated:
Who the people responsible are for formulated of strategic planning?
What is the management policy employed by the organization?
What is the existing state of the organization and the environment in
which it operates and which likely to operate in future?
How does the company obtain its raw materials and equipment?
How does the company cope with change of government policy?
1.5 RESEARCH HYPOTHESES
For the purpose of this work
the following hypotheses shall be tested:
1. Null hypothesis:
Strategic plan will not enhance unity among the various units within an
hypothesis: Strategic plan will enhance unity among the various units
within an organization
2. Null hypothesis:
Strategic plan will not influence attainment of organizational objectives.
Alternative hypothesis: Strategic plan will not
influence attainment of organizational objectives.
3. Null hypothesis: A
flexible strategic plan does not work better tan a rigid strategic plan.
hypothesis: A flexible strategic plan
does not work better tan a rigid strategic plan.