THE IMPACT OF STRATEGIC PLANNING ON FINANCIAL PERFORMANCE OF SMALL AND MEDIUM SCALE ENTERPRISES
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 3000
ABSTRACT
Strategic planning process determines the long-term objectives of an organization by developing and implementing decisions is critical for the survival of most institutions. Financial performance of small and medium scale enterprises in Nigeria has been found to be affected by strategic planning processes. This research purposed to study the impact of strategic planning on financial performance of small and medium scale enterprises in Nigeria. The current research made use of a descriptive survey design. The population consisted of all the registered small and medium scale enterprises operating in pel-extra industry, Lagos, Nigeria, 90 of them was sampled out for the study. Primary data was used in this research work. The primary data was collected through questionnaires. Raw data was analyzed majorly by way of inferential, descriptive, and frequencies techniques. Results from the study indicated that mission and objectives, environmental scanning, strategy formulation, strategy implementation and strategy evaluation all had an impact on financial performance as indicated by majority of the respondents. Correlation results also indicated that mission and objectives, environmental scanning, strategy formulation, strategy implementation and strategy evaluation were positively associated with financial performance. Regression findings indicated that mission and objectives, environmental scanning, strategy formulation, strategy implementation and strategy evaluation were statistically significant predictor of financial performance. The researcher concluded that mission and objectives, environmental scanning, strategy formulation, strategy implementation and strategy evaluation did have an impact on financial performance and that mission and objectives was an important determinant of financial performance in small and medium scale firms in Nigeria. As a suggestion for further studies, another study on strategic planning process can be done in a different sector like the private sector, manufacturing sector, agricultural sector, etc. to find out whether there will be consistency in findings and results.
Related Project Materials
THE IMPACT OF ACCESSIBILITY ON RESIDENTIAL PROPERTY VALUES IN NEW HAVEN ENUGU
-
-
BACKGROUND OF THE STUDY
-
At the foot of the Milliken Hill r...
AN ASSESSMENT OF THE EFFECT OF COVID-19 LOCKDOWN AND POS AVAILABILITY IN NIGERIA
BACKGROUND OF THE STUDY
The novel coronavirus disease 2019 (COVID-19) is currently a global pandemic. T...
FOOD SECURITY: A STRATEGY FOR POVERTY ALLEVIATION IN NIGERIA
ABSTRACT
Poverty has the consequences of breeding social disillusionment with respect to what the objec...
ROLE OF IMO BROADCASTING CORPORATION (TELEVISION) IN THE RURAL EDUCATION DEVELOPMENT OF EMEKUKU IN OWERRI IMO STATE.
Background of the study
The mass media perform a number of functions in every society. In performing its functions they do not work in is...
RELATIVE EFFECTIVENESS OF JUST-IN-TIME TEACHING AND PEER INSTRUCTIONAL STRATEGIES ON COLLEGE STUDENTS’ ACHIEVEMENT AND RETENTION IN FINANCIAL ACCOUNTING IN ANAMBRA STATE
Background to the Study
At the College of Education level, business education is one of the programmes that provide its recipients with k...
INFLUENCE OF INSTRUCTIONAL MATERIALS ON THE ACADEMIC PERFORMANCE OF STUDENTS IN AGRICULTURAL SCIENCE IN SECONDARY SCHOOLS IN KWARA STATE, NIGERIA
ABSTRACT
The study examined the availability of instructional materials, its adequacy and relevancy...
E-NAIRA AND IT’S IMPLICATIONS ON THE FINTECH SECTOR
Background of the study
Financial service delivery is progressively merging with developing technologies in Nigeria, res...
THE EXISTENCE OF GOD AND THE PROBLEM OF EVIL A PHILOSOPHICAL EVALUATION
ABSTRACT
This study focuses on st. Thomas Aquinas argument for the existence of God; a God who is purported to have crea...
GODFATHERISM AND POLITICAL CONFLICT IN NIGERIA: AN OPINION SURVEY OF VOTERS
ABSTRACT
Godfatherism has become an attribute in modern day Nigerian politics which could either foster...
COINAGES IN NIGERIA ENGLISH: A SOCIOLINGUISTIC PERSPECTIVE
ABSTRACT
Nigerian English coinages have been widely investigated in different literatures ranging from studies in Socio...
