ABSTRACT
The research is on corporate planning; problems
and benefits, A case study of Dangote of Company Lagos. The main objective of
the research is to determine the problems managers encounter in corporate
planning, and thus suggest possible solutions. The researcher analyzed the data
collected based on the responses from questionnaire. Chi-square was used to
test to hypotheses formulated. The major findings of the research shows that
lack of reliable and adequate information, poor structural policy framework and
lack of adequate managerial skills and technical in corporate planning. Based
on the above findings, the study concludes that corporate planning covers every
aspects of the organization as it sets long term goals for the organization. It
is vital for the growth of the organization. On the basis of the above finding,
the study recommend that there is the need for managers to always reassess the set
goals in the light of the performance of the corporate plan over-time ascertain
if their target is been achieved, and thus set their goals in the light of the
prevailing circumstances, which is the essence of emergent approach in
corporate planning.
LIST OF TABLES
Table
4.1:What
is the role of effective and efficient Corporate Planning to an organization?
…. 37
Table
4.2:What
are the problems managers’ Encounters in Corporate
Planning?
……… 39
Table
4.3:Do
you think that the objectives of long-range planning includes, to define the
scope of organizations activities, set corporate goals for so many years ahead,
determine suitable strategies for achieving the set goal and assess the trend of the business environment for the
purpose of
forecasting? . 41
Table
4.4:What
strategies does the management of your organization adopt in corporate
planning? ………………………………. 42
Table
4.5:How
effective have these strategies been?
……………. 43
Table
4.6:What
are the strategic planning approaches used by organization? 44
Table
4.7:What
corporate planning approach does your organization adopt? 45
Table
4.8:Which
of the following include the forecasting method used by organization?
…. 46
Table
4.9:Do
you think that for any organization to succeed and compete favourable, the
organization must plan well? …………….. 47
TABLE
OF CONTENTS
TITLE …………………………………………………………………………………. i
DECLARATION …………………………………………………………………. ii
CERTIFICATION ………………………………………………………………. iii
DEDICATION …………………………………………………………………… iv
ACKNOWLEDGEMENT ……………………………………………………. v
ABSTRACT ……………………………………………………………………… vii
LIST OF TABLES…………………………………………………………….
viii
TABLE OF CONTENTS …………………………………………………….. x
CHAPTER
ONE
INTRODUCTION
1.1 Background of the Study …………………………………………… 1
1.2 Statement of Problem ……………………………………………….. 3
1.3 Objectives of the Study …………………………………………….. 4
1.4 Research Questions …………………………………………………. 4
1.5 Research Hypotheses ………………………………………………. 5
1.6 Scope and Limitation of the Study …………………………….. 6
1.7 Significance of the Study ………………………………………….. 7
1.8 Brief History of Dangote Group of Company……………… 8
1.9 Definition of Terms …………………………………………………. 10
CHAPTER
TWO
REVIEW
OF RELATED LITERATURE
2.1Meaning
of Corporate Planning ………………………………….. 12
2.2Core
Areas Corporate Planning ………………………………….. 14
2.3Approaches
to Corporate Planning ……………………………… 15
2.3.1Prescriptive
Approach …………………………………………….. 15
2.3.2Emergent
Approach ………………………………………………… 17
2.4Corporate
Planning and Strategic Management ………….. 18
2.5Objective
of Corporate Planning …………………………………. 19
2.6Steps
in Long-Range or Corporate Planning ……………….. 22
2.7Benefits
of Corporate Planning …………………………………… 25
2.8Problems
of Corporate Planning …………………………………. 27
CHAPTER
THREE
RESEARCH
METHODOLOGY
3.1 Introduction …………………………………………………………….. 30
3.2 Sources of Data ……………………………………………………… 30
3.2.1 Primary Sources Data …………………………………….. 30
3.2.2 Secondary Sources Data ……………………………….. 31
3.3 Population of the Study …………………………………………… 31
3.4Sample
Size Determination …………………………………………. 31
3.5Instrument
for Data Collection …………………………………….. 32
3.6Method
of Data Analysis …………………………………………….. 34
3.7Validity
and Reliability of Data …………………………………….. 34
CHAPTER
FOUR
DATA
PRESENTATION
4.1 Introduction …………………………………………………………….. 36
4.2 The Chi-square Test (X2) ………………………………………… 36
4.3Decision
Rule …………………………………………………………….. 36
4.4Analysis of
Questionnaires Distributed
and
Returned ………………………………………………………………….. 37
4.5Hypothesis
Testing …………………………………………………….. 48
CHAPTER
FIVE
SUMMARY OF FINDINGS,
CONCLUSION AND RECOMMENDATIONS
5.1 Summary of Findings ……………………………………………… 61
5.2Conclusion
…………………………………………………………………. 62
5.3Recommendations
……………………………………………………… 62
5.4Suggestion
for Further Research ………………………………… 64
Bibliography
……………………………………………………………. 66
Appendix
………………………………………………………………… 68
CHAPTER
ONE
INTRODUCTION
1.1 BACKGROUND
OF THE STUDY
The
development of corporate planning is a post world war II phenomenon. Before the
period of the world war II, almost all business enterprises were carrying on
their business affairs without stating any formal objectives or formal long
range business plans. Usually business planning was confined to the lower
organizational levels, mainly the functional or the departmental levels and
they had only short-term plans which focused mainly on manufacturing product
planning, materials ordering and receiving and hiring of labour. Most companies
used to have annual budgets or yearly financial plans to ensure their liquidity
Imaga (2000:1).
Since
that period of world war II, higher level that is at the care body of the
company level long-range, usually of 3 to 7 years period planning has assumed
ever increasing importance.
The
development of business planning been a revolutionary movement or as
technological revolution or even the
revolution in life-styles due to income
demonstration effects from time to time. According to
Hberts, (1950), comprehensive business planning now
covers long-range in the form of strategic planning
involving the entire fabric of the organization and is the concern of the
top-most management from where it descends to all. The scope of corporate
planning covers not only the whole organization but every functional aspects of
the organization. It takes into account the full environments in which the
business operates and is a systematic assessment of a most comprehensive
nature, leading to the realistic mapping out of long term objectives,
strategies and operational plans Akpala (1990).
In
corporate planning, top management is concerned with the future direction of
the business as a whole, such decisions taken are long-term in nature and are
bound to have far reaching implications on employment, the financing of the
business and the types of products manufactured.
Thus,
corporate planning involves major strategic decisions. It is against this
background that this study is set to examine corporate planning with a view to
determining its
benefits and identifying its problems in Dangote Group
of Company Nigeria Limited.
1.2 STATEMENT
OF PROBLEM
CORPORATE PLANNING, PROBLEMS AND BENEFITS (A CASE STUDY OF DANGOTE GROUP OF COMPANY)
