Strategic Planning and Organisational Performance: The Nigerian Experience
This paper evaluated the effects of strategic planning on the performance of firms in Nigeria. A ten year study of ten firms most susceptible to competition was undertaken. Both survey and ex post facto design were adopted. Structured questionnaire was utilized in collecting primary data while the secondary data was obtained from the annual reports/statements of accounts of the selected firms. Descriptive statistics and dummy variable regression technique were utilized in the analyses. It was found that the firms embark on strategic planning but this has contributed only but negligible proportion of the companies’ performance. The paper, therefore, recommended that firms should identify all relevant strategic factors while setting their strategic plans to be sure their actions were igned to firms’ objectives.