EFFECT OF CORPORATE PLANNING ON ORGANISATION PERFORMANCE: A STUDY OF SELECTED FIRMS IN UMUAHIA, ABIA STATE.

i EFFECT OF CORPORATE PLANNING ON ORGANISATION PERFORMANCE: A STUDY OF SELECTED FIRMS IN UMUAHIA, ABIA STATE. BY NNADOZIE ESTHER 2020/124913/REGULAR DEPARTMENT OF MANAGEMENT FACULTY OF ECONOMICS AND MANAGEMENT SCIENCES ABIA STATE UNIVERSITY, UTURU, NIGERIA FEBRUARY, 2025 ii ABIA STATE UNIVERSITY, UTURU FACULTY OF ECONOMICS AND MANAGEMENT SCIENCES DEPARTMENT OF MANAGEMENT B.Sc PROJECT ASSESSMENT FORM NAME: NNADOZIE ESTHER MATRIC NUMBER: 2020/124913/REGULAR TOPIC: EFFECT OF CORPORATE PLANNING ON ORGANISATION PERFORMANCE: A STUDY OF SELECTED FIRMS IN UMUAHIA, ABIA STATE. S/N EVALUATION CRITERIA PROJECT SCORE STUDENT’S SCORE 1. Grasps of subject matter as demonstrated in the introduction and statement of the problem 10 2. Breadth and depth of literature review 15 3. Appropriateness of research methodology to the process being investigated 15 4. Analysis, findings and recommendations: are these logical and meaningful 20 5. Achievement of objectives stated for the project 10 6. Style and presentation Correctness of referencing style (2) Grammar (3) Correctness of presentation format (2) Do errors: typographical and others exist? (3) 10 7. Contribution to business problem solving as brought out in the contributions and recommendations 20 Total 100% Grade Supervisor’s comment on the quality of the work and degree of conformity of the project with the faculty research Guidelines …………………………………………………………… …………………………………………………………………………………………………………………………. Supervisor: Dr. C. E. Udensi Signature/Date External examiner’s Comment: ………………………………………….………………….……………… …………………………………………………………………………………………………………………………… Name: Signature/Date: iii EFFECT OF CORPORATE PLANNING ON ORGANISATION PERFORMANCE: A STUDY OF SELECTED FIRMS IN UMUAHIA, ABIA STATE. BY NNADOZIE ESTHER 2020/124913/REGULAR BEING A RESEARCH PROJECT SUMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF THE DEGREE OF BACHELOR OF SCIENCE (B.Sc) IN MANAGEMENT. DEPARTMENT OF MANAGEMENT FACULTY OF ECONOMICS AND MANAGEMENT SCIENCE ABIA STATE UNIVERSITY, UTURU, NIGERIA FEBRUARY, 2025 iv DECLARATION I NNADOZIE ESTHER with matriculation number 2020/124913, do hereby declare that this project has not been previously presented either wholly or in part for the award of any other degree in any university or higher institution. NNADOZIE ESTHER Signature Date v CERTIFICATION EFFECT OF CORPORATE PLANNING ON ORGANISATION PERFORMAMNCE: A STUDY OF SELECTED FIRMS IN UMUAHIA, ABIA STATE. BY NNADOZIE ESTHER 2020/124913/REGULAR BEING A RESEARCH PROJECT SUMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF THE DEGREE OF BACHELOR OF SCIENCE (B.Sc) IN MANAGEMENT. ABIA STATE UNIVERSITY, UTURU NIGERIA The undersigned do hereby certify as follows: that to the best of our knowledge, this is the original work of the candidate; that the project is accepted in partial fulfillment of the requirements for the Degree of Bachelor of Science (B.Sc.) in Management. However, the Committee recognizes that the candidate bears full responsibility for the content of this work. Name Signature Date Supervisor: Dr. C. E. Udensi Head of Department: DR. K. O Okwuagwu External Examiner: vi DEDICATION This project is dedicated to the Almighty God for his infinite mercies and grace. vii ACKNOWLEDGEMENTS First, I acknowledge God Almighty who gives wisdom, practical knowledge and discernment (Proverbs 2:6-8). To my supervisor, DR. C. E. Udensi words are not enough to thank you for your academic tutelage and ever encouraging supervision. I want specially thank the Head of Department, Dr. K. O. Okwuagwu, for the great academic support, Special thanks to Prof. F. E. Eboh, Mr. S.B.C. Amajoh, Dr. C.O. Aguguo, Dr. M. M. Ofondu, Dr. Uchenna Onyemaechi, Dr. Sampson Chijindu, Dr. H. Amanze, Mr. Larry Achara, Mrs. Ezichi- Obasi Judith and Miss Eberechi for being there for me. I also appreciate all the non -academic staff of the Department of Management. I will want to acknowledge my parents Mr. and Mrs. Nnadozie Abraham, who provided me with spiritual support and love. To my uncle Mr. Chukwuemeka Meribole Emmanuel, who provided me financial support, God bless you Sir for all you do. I recognize the efforts of my friends: Friends, Joseph Glory bassey and confidence chiamaka Onwugba, i appreciate your support, criticism and love toward my stay in this institution. NNADOZIE ESTHER 09/02/2025 viii TABLE OF CONTENTS PAGES Cover page i Assessment page ii Title Page iii Declaration iv Certification v Dedication vi Acknowledgement vii List of Tables xi List of Figures xii Abstract xiii CHAPTER ONE: INTRODUCTION 1 1.1 Background to the Study 1 1.2 Statement of the Problem 5 1.3 Objectives of the Study 6 1.4 Research Questions 6 1.5 Research Hypotheses 7 1.6 Significance of the Study 7 1.7 Scope of the Study 8 1.8 Organization of the Study 8 1.9 Definition of Terms 9 CHAPTER TWO: LITERATURE REVIEW 11 2.1 Conceptual Review 11 2.1.1 Definition of Corporate Planning 11 2.1.2 Evolution of Corporate Planning 16 2.1.3 Planning Tools and Environmental Scanning 19 ix 2.1.4 The Need for Corporate Planning and Strategy 22 2.1.5 Corporate Planning Process 27 2.1.6 Unique Role of Corporate Planning in A Business Environment 28 2.2 Barriers to Effective Corporate Planning in an Organization 32 2.2.1 Overcoming Corporate Planning Barriers in an Organization 33 2.3 Organizational Performance 35 2.4 Measures of Organizational Performance 40 2.5 Relationship between Corporate Planning and Organizational Growth 44 CHAPTER THREE: METHODOLOGY 45 3.1 Research Design 45 3.2 Selection of Data 45 3.3 Collection of Data 46 3.3.1 Design and Administration of the Questionnaire 46 3.4 Population 47 3.5 Sample Size Determination 48 3.5.1 Sampling Technique 50 3.6 Operational Measures of Variables 51 3.7 Data Analysis Technique 52 CHAPTER FOUR: PRESENTATION AND ANALYSIS OF DATA 53 4.1 Questionnaire Distribution 53 4.2 Analysis of Demographic Variables 54 4.3 Statistical Analysis of Data 61 4.4 Test of Hypotheses 66 CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS 70 5.1 Summary of Findings 70 x 5.2 Conclusion 70 5.3 Recommendations 71 5.4 Limitations of the Study 72 REFERENCES 73 APPENDIX 78 xi LIST OF TABLES TABLES Pages 3.1: Population of the firm 47 3.2: Proportional allocation of sample size 50 4.1: Administration and Retrieval of Questionnaire 53 4.2: Gender Distribution of Respondents 54 4.3 Age Distribution of Respondents 55 4.4: Marital Status of Respondents 57 4.5: Highest Educational Levels of Respondents 58 4.6 Work Experience of Respondents 59 4.8: Responses on implementation of Plan 61 4.9: Responses on Cost Effectiveness 62 4.10: Responses on Speed of Service delivery 63 4.11: Responses on Economic forces 64 4.12: Responses on Waste Minimization 65 4.13: Correlation 66 4.14: Correlation 68 4.15: Correlation 69 xii LIST OF FIGURES Fig Pages 4.1 Gender distribution of the respondents 55 4.2 Age distribution of the respondent 56 4.3 Marital status of the respondents 57 4.4 Educational qualification of the respondents 59 4.5 Year of experience of the respondent 69 xiii ABSTRACTThis study focused on effect of corporate planning on organisation planning: a study of selected firms in Umuahia, Abia State. The specific objectives were to: to determine the nature of the relationship between implementation of plan and cost effectiveness; ascertain the nature of the relationship between economic forces and speed of service delivery; and determine the nature of the relationship between technological factors and waste minimization. The study was based on a descriptive research design. both primary and secondary data were used. the population of the study was 209 of operational staff and the sample size of 137 respondents was obtained using taro yamane technique. the researcher used questionnaire for data collection. the data gathered for the study were analyzed using descriptive analysis. spearman rank correlation is used to test hypotheses with the aid of statistical packages for social sciences (spss). the study there is a significant and positive relationship between implementation of plan and cost effectiveness; there is a significant and positive relationship between economic forces and speed of service delivery; and there is a significantly moderate and positive relationship between technological factors and waste minimization. In conclusion, the study underscores the fact that corporate planning and strategic decision making are paramount in effective utilization of scares resources and good financial management as well promote cordial relationship between management and their staff, thereby helping staff to understand stated organizational goals and functions. the researcher recommended that corporate planning should be adopted by firms that will position the firm to achieve its objectives rather than watch or wonder at changes that take place in the environment to enable the firm adapt promptly to these changes KEYWORDS: implementation of plan, cost effectiveness, economic forces, speed of service delivery and waste minimization 1 CHAPTER ONE INTRODUCTION 1.1 Background of the Study Many of today’s successful business organizations continue to survive because many years ago they offered the right product at the right time. Many critical decisions of the past were made without the benefit of strategic thinking or planning (Peter, 2020). Whether these decisions were based on wisdom or luck is not important. They resulted in momentum that has carried these organizations to where they are today. However, present-day managers increasingly recognize that wisdom and intuition alone are not parameters to guide the destinies of large organizations in today’s ever-changing environment. Ivancevich and Dennelly (2001) defined corporate or strategic planning as those activities which lead to the definition of ends and the determination of appropriate means to achieve defined ends. Uncertainty, instability and changing environment became the rule rather than the exception. Managers constantly faced with increased inflation, increased foreign competition, technological obsolescence and changing market environment. Because these changes are occurring so frequently, there is increased pressure on top management to respond in order to respond more accurately timely schedule with a direction or course of action in 2 mind, managers are increasingly turning .to the use of strategic planning or other words corporate planning and management strategy. Enudu (2005), defined Corporate planning as process that involves the review of market conditions, customer needs, competitive strengths and weakness, socio-political, legal and economic conditions, technological developments and the availability of resources that leads to specific opportunities or threats facing the organization. In practice, the development of strategic planning involves taking information from environment and deciding upon an organizational mission and upon objectives and strategies. Whenever an organization has formulated its mission and developed its objectives, it knows where it wants to go. The next management task is to develop a grand design to get there. The grand design constitutes the organizational or management strategies (Shaukat et al., 2008). The role of strategy in strategic planning is to identify the general approaches that the organization will utilize to achieve its organizational objectives. Cost-effectiveness is crucial in assessing the value derived from resources allocated within a project or an organization. This objective seeks to explore how well-implemented plans can lead to cost efficiency. The background of this objective could cover how systematic planning—when aligned with organizational goals—helps allocate resources wisely, minimizes waste, and enhances overall profitability. Existing research might indicate that 3 detailed planning improves cost control, especially when incorporating feedback loops and adaptive strategies. It involves the choice of major directions the organization will take in pursuing its objectives. Strategic planning provides direction for an organization’s missions, objectives and strategies, facilitating the development of plans for each of the organization’s functional areas. A completed strategic plan guides each area in the direction the organization wants to go and allows each functional area to develop objectives, strategies and programs consistent with these goals. Koontz and Weihrich (2019), sees that Economic forces, such as inflation, interest rates, and market demand, often impact operational efficiencies. The goal here is to understand how these external economic conditions influence time management within an organization. The background might include an examination of time management models that respond to economic fluctuations. Additionally, it may cover how businesses that monitor and adjust to these forces effectively can streamline workflows, reduce downtime, and optimize project timelines. Moreover, strategists undertake corporate planning basically to ensure the effectiveness and viability of the organization through the optimal utilization of available human and material resources. Therefore, there is every need for strategic planning efforts in a business organization, especially in a highly competitive business environment like the oil industry. Without strategy, an 4 organization is like a ship without a rudder, going around in circles. It’s like a tramp, it has no direction. Corporate planning and management strategy give best result when undertaken at the top management level by individual (Internal or External) or Committees. The process should be a systematic strength, weakness, opportunity and treat (SWOT) analysis. The firm’s internal strengths and weakness determine the rate at which opportunities can be utilized and threats utilized or avoided. Waste minimization is increasingly important due to environmental regulations, sustainability goals, and cost reduction efforts. This objective focuses on how technology—through innovations such as automation, digital monitoring, and real-time analytics—can help minimize waste. The background for this part of the study could include a review of technologies that optimize resource usage, reduce material waste, and enable circular economy practices, illustrating how technology not only drives operational efficiency but also aligns with broader sustainability objectives (Susan, 2023). The failure of management to take advantage of opportunities as influenced by the external business environment will only means gross inefficiency and low corporate performance. In fact, the organization can be considered to have chosen forced or voluntary liquidation. 5 1.2 Statement of Research Problem The success or failure of a manufacturing organization depends so much on the formulated corporate plans and how well these plans are implemented. Corporate planning facilitates the attainment of the organization’s desired level of productivity by adequately providing the right amount of resources to each departmental unit for them to carry out their assigned tasks effectively. There are several constraints to successful corporate planning. The factors that impinge on the organization in attainment of the desired productivity level are changes in the environment, failure to allocate adequate resources, absence of plan review, planner’s incompetence, etc. These have impacted negatively on the attainment of desired productivity level in firms. The critical issues in corporate planning are: i. That no organization will thrive simply through reacting to each new development as it occurs. ii. Uncontrolled expenditure by a firm often puts the company into a very tie position. iii. Lack of corporate planning and strategy will result in business failure or reduce profitability and organizational performance. 6 1.3 Research Objectives The major objectives of the study is to determine the effects of corporate planning on organizational performance. Specific objectives are: i To determine the nature of the relationship between implementation of plan and cost effectiveness. ii To ascertain the nature of the relationship between economic forces and speed of service delivery. iii To determine the nature of the relationship between technological factors and waste minimization. 1.4 RESEARCH QUESTIONS Based on the statement of problem, the following research questions are raised: i what is the nature of the relationship between implementation of plan and cost effectiveness. ii what is the nature of the relationship between economic forces and speed of service delivery. iii. what is the nature of the relationship between technological factors and waste minimization. 7 1.5 RESEARCHES HYPOTHESES Ho1: There is no significant relationship between implementation of plan and cost effectiveness. Ho2: There is no significant relationship between economic forces and speed of service delivery. Ho3: There is no significant relationship between technological factors and waste minimization. 1.6 Significance of The Study The findings of this study will be beneficial to the following: a) The Government: this research can inform policy-making, especially regarding regulatory guidelines and support programs for businesses. b) Business firms: this study provides practical guidance on the importance of corporate planning for sustained performance and growth c) The Academia: This study will help the academia understand the entire concept of corporate planning and organizational performance, which is, The Corporate Planning Process, Planning Tools and measures of organizational Performance 8 1.7 Scope of the study This study focuses on effects of corporate planning on organizational performance in selected firms in umuahia, Abia State. This study was carried out at Fedex Nigeria, Jonnykelle Farms Ltd, Zestgold Security Limited, Demestern Cleaning Services and Film Land Production in Umuahia, Abia State. The workers and the managers of the selected firms in Umuahia are the respondents. 1.8 Organization of the study This research study is divided into five chapters and is structured as follows: Chapter one: This is the introductory chapter of this work. It also covers the Background to the Study, Statement of the Problem, Objectives of the Study, Research Questions, Research Hypotheses, Significance of the Study, Scope of the Study, Organization of the Study and Operational Definition of Terms. Chapter two is the review of related literature. Chapter three shows the Methodology. It comprises of Research Design, Selection of Data, Collection of Data, Population, Sample Size Determination, 9 Sampling Technique, Operational Measures of Variable and Method of Data Analysis. Chapter four is on Data Analysis and it covers Presentation of Data, Analysis of Data and Test of Hypotheses. Chapter five is Summary of Findings, Conclusion, Recommendations and Limitations of the Study. 1.9 Operational Definition of Terms For the clarity of this study, some basic terms have to be defined in the context, they are used in this study, they are: Corporate Planning: These are necessary effort made by an organization to help develop good business relationship that members of that same organization share. Procedure Manual: This entails the corrective measure documented by the organization that is used to check and balance the operational activities. Retrenchment: This is a period in an organization where workers are being laid off. Specialized: This is a particular field on knowledge, expert and specialization on a particular job. 10 Strategic Plan: It is a comprehensive statement of an organization’s strategic mission, objectives and strategy, a detailed road map of the direction and course the organization presently intends to follow in conducting its activities. Strategy: It refers to management action plan for achieving the chosen objectives. It specifies how the organization will be operated and run and what entrepreneurial, competitive and functional area approaches and actions will be taken to put the organization in to the desired position. 11 CHAPTER TWO REVIEW OF RELATED LITERATURE 2.1 Conceptual Review 2.1.1 Definition of Corporate Planning Different definitions of corporate planning have been presented over the years. Some of these definitions are: Aluko et al., (2020), opined that corporate planning is the process of determining the major objectives of an organization and the polices and strategies that will govern the acquisition used and the position of resources to achieve these objectives. Corporate planning is strategic in nature. Corporate planning is in fact a quite simple exercise. This is not to suffice that, it is easy. The problems are: first, that the forecast on which many of the decision have to be based are subject to enormous errors and secondly, that many of these decisions, are judgmental. A corporate plan does not contain an enormous number of decisions, nor does it call for a vast volume of detail which are more than characteristics of short term planning, instead it involves a very fair but important decision concerning the whole structure of the company for many years into the future (Argent, 2017). Thus, manager and other stakeholders are therefore advised to adopt corporate planning in their organization because it makes the difference, that is why Ericson (2018) postulated that, corporate planning policy is very important in three 12 dimensions, confidence boasting, insurance against unexpected risk and management discipline. It would be incumbent upon the business managers to handle the complex nature of modern business, its environment, technological changes, competitions and expanding customer needs, etc. According to Susan (2023), from a company’s perspective, corporate planning involves formulating long term business goals so that strategic planning of an enterprise may be developed and acted upon. The corporate planning term that was popular in the 1960’s has since been referred to as strategic management. According to her, corporate planning primarily focused on effective and efficient achievement of optional performance from all business division with actionable information provided to the executive management in order to foster accountability and business growth (Susan, 2023). a) The process of gathering data to prepare detailed action plans addresses a corporate organization’s goal and objectives so that an actionable plan may be developed usually by senior management. b) The resources of a business, company or organization is considered among with the environment in which it is operating statistical data including budget formulation and performance management used in connection with business analysis and forecasting. 13 c) A plan is developed using the determined information and resources including targets and milestone that corporate. Enudu (2005), defined corporate planning as the process through which managers determine the long term objectives of their corporations/organizations and the course of actions necessary for the accomplishment of these objectives. Corporate plans are the top-most and broadest of all plans and therefore cover the entire organization and every functional area of the organization’s business. It considers the whole organization and the factor operating in external environment such as political, economic, institutional, social, technological and ethical factors. Onuoha, (2001) stressed the need for a suitable working definition of concept because without a sound theoretical background, effective corporate planning will remain an illusion to most managers. He therefore gave a working definition of corporate planning as: A company wide, future-oriented, continuous process of management which is implemented within a formal framework, it is responsive to relevant changes in the environment. It is concerned with both strategic and operational planning, and through participation of relevant members of management develops plans and actions at appropriate levels in the organization. It incorporates monitoring and control mechanisms and is concerned with both short and long term horizons. 14 This theme, according to him has all essential make up of a good working definition in that it provides working reference guide for the planner while a good plan instills a sense of direction. More succinctly Drucker (1974), defined corporate planning as a process of making present entrepreneurial decisions systematically and with the greatest knowledge of their futurity, organizing systematically the efforts needed to carry out these decisions against the expectation through organized systematic feed-back. In this light, corporate planning is seen as a process of deciding in the present what to do in the future which implies that the organization reconciles its resources with its objectives and the alternative courses of action to achieve them. It also advocates the feedback system. Argentin (1999), defined corporate planning as a systematic and disciplined study designed to help identify the objectives of any organization or corporate body, determine an appropriate target, decide upon suitable constraints and device a practical plan by which the objectives maybe defined. As a result of the many conflicting definitions of corporate planning in the literature, Akingbade (1983), took what he called a better option by describing it as the: integral process of preparing and formulating future decisions, as the design of a desired future and the specification for effective ways by which this 15 future can be attained as being concerned with a system that has to co-ordinate different sub-processes in space and in time, as being complementary to solving; as a warning process and a managing. This description mainly focusses on the uses of corporate planning but also point to element of futurity, the link between planning and decision making, systematization of the process and object values such as purpose, objectives and goals. According to Ivancevich and Dennelly (2001), he defined corporate or strategic planning as those activities which lead to the definition of ends and the determination of appropriate means to achieve defined ends. For Steiner and Miner (2004) it deals with the futurity if current decisions; in other words, it look at the chain of cause-effect consequences over time of an actual or intended decision that a company is going to make. Osaze (2022) sees corporate or strategic planning as including the setting up of long range goals and alternative courses of achieving them in the future to provide basis for making current decisions. According to Fubara (2023), the management of organizations from the top involves the determination of their missions, objectives and the development of resources to achieve these objectives. In analyzing these definitions, one discovers that there are elements of resemblance or underlying philosophy among them. As stated by Kotler (2021), no organization will thrive simply through reacting to each new development as it occurs. Even ad hoc initiatives will at the long run 16 result in inconsistent actions and uncontrolled expenditures, leaving the organization vulnerable to maneuvers by more forward planning competitors. To counter this, management looks ahead of events, anticipate eventualities, prepare for contingencies and map out course of actions to follow. This action of management is called corporate planning, long run planning strategic planning etc. here it is called corporate planning and however, their terms may be used where necessary. 2.1.2 Evolution of Corporate Planning Various writers of management science at different times have alluded to the fact that even though there has been an increased importance in corporate planning, it is a new development/concept in the corporate world. In Nigeria, Fubara (2018, 2023), Okwandu (1986), Nwokoye (1981) and Onuoha (1979) are some of the researchers that have contributed immensely to the concept. Onuoha, (1979) noted that in Nigeria, corporate planning is a new and growing “baby” hence the great demand by managers for more knowledge on the subject. This demand was as a result of the realization of business strategists that the Nigeria business environment is full of challenges. Paul et al., (2017) chronicled the evolution of strategic planning and wrote that though Henri Fayol noted the importance of business planning as early as 1916, 17 serious attention really began recently in 1958. Jauch and Gluecic, (2019) tracing the evolution of corporate planning noted that in earlier times the focus of the manager’s job was on today’s decision for today’s world in today’s business. But now, instead of directing all their time and energy on today, the managers began to see the value of trying to anticipate the future and to prepare for it. This, added was done by: a) Preparing systems and procedure manuals for decisions that must be made repeatedly, and b) Preparing budgets via an attempt to anticipate future sales and flow of funds. Long-range planning used economic and technological tools to forecast the future and as Jauch and Glueck, (2019) put it that it tended to be performed by a corporate staff group whose reports are forwarded to top management to either accepted or reject. Since the planners were not the ultimate decision makers, long- range planning has some impact but not as much had top management been involved”. This led to the production of first generation plans meaning that the firm chooses the most future environment and its own strength and weakness and from this evolves the best strategy for a match of the environment and the firm-a single plan for the most likely future. 18 In this approach, the boards of directors and corporate planners have parts to play in strategic management, but the starring roles are for general managers of the corporate and its major operating divisions. Corporate planning focuses on second generation planning and this conceptualizes an: analysis of the business and preparation of several scenarios for the future and contingency strategies are then prepared for each of the likely future scenario. Jauch and Glueck (2019) stated that it is clear that corporate planning is long-range planning where top management and corporate planners are involved in the initiation and implementation of corporate plans. In another dimension, Trewatha and Newport, (1979) commented that the importance of corporate planning has been increasing in the last three decades because of the fact organizations now find themselves in a changing environment and that before the 1 940s most businesses dwelled on the day-to-day problems in an informal manner rather than appraising present achievements and assessing long-term needs and prospects of the business. After the world II, managers began to see the need to recognize that unpredictable changes in their environment in the light of strength and weakness of the organization, this led to the shift from short term projections to long-term projections of problems and prospects. (Jauch and Glueck, 2019) Kami (2020), in his own submission saw the evolution of corporate planning in three phases. He regarded the 1950s as a period where planners tried to convince 19 top management that a systematic look into the foreseeable future was important hence he was a salesman of intangibles. The 1960s was a period of specialized systematizers in which the planners were bedeviled with the organization of the planning process together with methods techniques and tools to be employed. Most of the 1970s was an advent of the simulation and computer modeling so that planning became sophisticated and the planner learned to optimally use the management information system. 2.1.3 Planning Tools and Environmental Scanning Jauch and Glueck (2019) identified four techniques use by strategists is scanning their business. These include the following; a. Gathering of Verbal Information: This refers to information we hear and it can gathered formally or informally. Sources of verbal information include such media as radio and television. Also, the firm’s employees such as subordinates, supervisors, and other outside the firm like customers, suppliers, competitors and their employees, financial executives, consultants, government and investing employees. b. The Management Information System:- This approach formalizes the line and staff gathering of information desired by the strategists on a regular basis. Another version of management information system is the strategic information 20 system (SIS) in which strategic data basis can be developed by relying on inputs from customers, suppliers, competitors etc. c. Spying:- In this approach, the top executive employs an individual(s) to determine trade secrets. The spy can be an employee of the competitor, one of the spy. Basing that observation on survey data. Jauch & Glueck (2019) asserted that although it varies by industrial and functional areas, industrial espionage appears to be increasing. d. Formal Forecasting/Modeling;- Forecasting has been defined as the formal process of predicting future events that will scientifically affect the functioning of the organization. A forecast is a statement in quantitative terms of probable future events. Koontz and Weihrich (2019), stressing the need and importance of forecasting in corporate planning would be relatively simple. Managers would need only to take into account their human and material resources and their threats and opportunities, compute the optimum method of reaching their objectives and proceed with a relatively high degree of certainty toward it. In practices however, forecasting is much more complicated than that. They range from simple, often somewhat and relatively inexpensive procedures to methods that are quite complex, difficult to us and very expensive. 21 Koontz and Weibrich (2019) attributed the following values to forecasting. a. Making of forecasting and their review by manager compel thinking ahead, looking into the future and providing for it. b. Preparation of forecasting may disclose areas where necessary control is lacking. c. Forecasting, especially when there is participation throughout the organization, helps to unify and co-ordinate plans and by focusing attention on the future, it assists in bringing a singleness of purpose to planning. All forecasting’s are fallible but differ in the extent to which they are, what is important as put, it is for the manager to be made aware of the reasoning behind a forecast presented to him so that if he disagrees with it, he may be able to establish a basis of rational disagreement (Dererell, 1976). According to Pappas and Brignam, (1979) some forecasting techniques are basically quantitative and others are qualitative and can be further classified into five (5) bread categories: a) Trend projection, curve fitting or time services procedure. b) Barometric or leading indicator method c) Econometric models 22 d) Input-out analysis e) Survey techniques. They went on to say that it is impossible to state unequivocally that one or another of these techniques is superior to all others. The best one for a particular task depends on number factors. These factors, the time needed for making decisions, the level of accuracy required, and the nature of relationship involved in forecasting problem. 2.1.4 The Need for Corporate Planning and Strategy The essence of corporate planning in any organized firm can be diagnosed by high- lighting the need for corporate planning, its importance and the benefits derivable from engaging corporate in planning, according to Koontz and Weihrich (2019), the need for and the importance of planning to an organization lies in the fact that the planning function has the following goals: a. To Offset Uncertainty and Changes: - Future changes and uncertainty makes corporate planning a necessity. This is because a conscious look into the foreseeable future helps the firms to assess to a considerable extent, the magnitude of risk it is taking and how to effectively cushion its impact. In this sense, the success of today’ organization is more of a function of its ability to 23 forecast the future than ability to efficiently control operations. (Koontz and Weihrich, 2019) b. To Focus Attention on Objective: - The fact that corporate planning is geared towards achieving organization’s objectives makes the very act of planning focus attention on these objectives. Well-considered overall corporate plans unify department activities. Departmental managers being immersed in their immediate problems are forced through planning to consider the future and even consider the periodic needs to revise the extend plans in the interest of achieving their objectives (Ibid). c. To Gain Economical Operation: Planning minimizes cost because of its emphasis on efficient operation and consistency. As Koontz and Weihrich, (2019) pointed out that it substitutes joint directed effort for uncoordinated piece meal activity, even flow of work for uneven flow, deliberate decision for snap judgment. d. To Facilitate Control: Control cannot be effective unless there are plans to use as standards. This is because corporate plans specify goals and objectives which the firms to accomplish within a given time period. Other writers have indicated various reasons for engaging in corporate planning. Peter Drucker reasoned that corporate planning prevents managers from uncritical 24 extending present trends into the future and from putting their resources in the defence of yesterday. Adok (1980), looking at the why of corporate planning, from the point of view of benefits derivable from it, argued that the end result of corporate planning exercise should be more than just mere document, that the exercise should develop an on- going habit of strategic thinking, which should lead to a continuous process of strategic management. (Jauch and Glueck, 2019) pointed out that corporate planning positions organization to think positively and act strategically to sudden environmental changes. In the same vein, Peter (2020) pointed out that strategic planning distinguishes three types of organization, namely; those that make things happen, and those that which things happen, and those that wonder at what happens. In this light, an organization that introduces the corporate planning culture in its operations will always stand to make things happen rather than watch wonder at what happens by readily to changes or even creating them. Deverell (2020), also pointed that planning requires effective communication which improves the functional co-ordination of efforts throughout the organization. This he attributed to clear definition of objectives and goals, which corporate planning presupposed. He went on to say that corporate planning leads to making 25 of better decisions by requiring explicit statement of assumptions, underlying choices and the enumeration of alternative course of actions. Corporate planning enables standard of performance to be established. This enables the control mechanisms to become effective which in turn facilitates company growth and ensures the setting and acceptance of common goals. The foregoing, are some benefits derivable from corporate planning. Organizations, especially those that operate in an already depleted economy like ours should embrace corporate planning, or rather be made to embrace corporate planning (Adole 2019). Meanwhile, in stressing the need for corporate planning and strategy, Osaze (2022) stated that, the “essential factor responsible for organizations ineffectiveness in Nigeria is the lack of proper attention to corporate planning”. This assertion cannot be overlooked because if serious and proper attention has been paid to strategic planning in Nigeria, the spat of corporate rationalization and consolidations through expense cut backs retrenchments and general reduction in industrial activity since 1981 would not have continued unabated. Corporate planning is not limited to private organizations alone, It can also be applied thoroughly in the administration of the public sector. Therefore, there’s the need for the adoption of the principle of strategic planning with the view to achieving its attendant merits effectively and efficiently. There should be a good 26 system of injecting fresher ideas into strategic policy making level it easy for bright young managers to ascend into this level of management and infuse fresh and modem idea and practices therein. Organization should approach planning and decision making by being opportunistic in nature. This is to say that the organizations should see all business situations as an opportunity to exploit for new ten ventures, new markets, new products and new ways of doing thing better. Private sectors particularly, should be adaptive to changes and replace strategies that do no function properly with those that seem most capable of exploiting and managing the new opportunities. It is therefore against this background that Umoren (1985) acknowledged that some of the main trust of changes in our industrial society serve to remind us that strategic planning is inescapable it the organization is to survive protracted product development cycles, accelerating rate of product obsolescence, rapid rate of changes in technology, changing social values, increasing demand of people (workers and shareholders) for more participation in the decision making process and growing organizational complexity and interdependency. The only way firm can arrest the attendant risk and uncertainties to engage in systematic planning culture. 27 2.1.5 Corporate Planning Process Etuk (2012), expressed in the simplest form, the comprehensive corporate planning process to include these four steps process comprising: a) Appraisal of company strength and weakness. This step begins with a consideration of business strategy involving an appraisal of the company’s strength and weakness. On the basis of this approach, corporate objectives are developed by top management to guide and steer the overall company efforts. b) Development of a master plan: The second step in comprehensive corporate planning entails development of a master plan on department basis. Preparation of master plan requires not only forecasts of economic condition and anticipation of threat that exist within the environment but also projection of other probable development. c) Integration of plans: The third step involves integration of the various departments of plans into a unified system. During this stage questions are raised as to how each departmental plan contributes to the overall objectives of the company. This is a very important step in the corporate planning process for unless each departmental plan is compatible with others in the company; there can be no unity of purpose. d) Implementation of plan: The final step in comprehensive corporate planning is implementation. The result is usually done on a department – by- 28 department basis following objectives established by individual heads of department. This is why some companies link this last step in the corporate planning process to the system of management by objectives (MBO). 2.1.6 Unique Role of Corporate Planning in A Business Environment No company however big can continue to hold a place of leadership unless its top management recognizes that modern business operates in a world of galloping changes which creates new problems, risks and opportunities for which they have to mobilize the firms’ resources to cushion the impact of these changes. This is so because the organization’s future will be greatly influenced by what is happening in the business environment (McCarthy et al., 1975). Adeleke et al., (2008), Stressing the importance of the business environment and hence the need for its appraisal argued that: in order to grow, to innovate, to manage, a business must convert its unknown environment to a known and it is hoped, a friendly one. Adeleke et al., (2008), went on to assert that if the environment is friendly, it presents an opportunity for innovation and if it is hostile, it presents a threat to the continued success of the enterprise and some form of innovation is required to combat the challenge. The external uncontrollable forces in the environment which influences the following: 29 a) Economic Forces b) Government/legal forces c) Market/company factors d) Socio-cultural and psychological factors e) Supply/technological factors. a) Economic Factors: Adegbite (1971), in consonance with many management writers pointed out that all business enterprises function in a given economy and as such are sensitive to the level and rate of change in aggregate economic activity within the economy. Their sales and profits move up and down with similar fluctuation in total domestic output, while operating cost display movement similar to the general price level. The purpose here is to emphasis the necessity for a deeper understanding by managers of how changes in the economic environment may affect their business operations especially those factors that influence economic growth and future aggregate demand (Adegbite, 1971) such as i. Economic system and its changing features ii. The resources base of the economy iii. Development plans and sectional changes in the economy iv. Economic fluctuation and seasonal variations In the same vein, Glueck (1980) identified the following economic factors: 30 a. The stage of the business cycle b. The inflationary or deflationary trend c. Fiscal, monetary policies and interest rates d. Balance of payments. a) Government/Legal Factors: According to Jauch and Glueck (2019), Federal, State and Local Government activities increasingly affect how business operates. This is because the legislate on such matters as wage and price controls, equal employment opportunity, safely and health at work, the way consumer credit is administered, the place that the plant can be located, the chemicals that can be emitted into the air, the amount of noise that can be made from the firms operations, the way in which the firm can run advertising etc. These laws and regulations change how business operates on a day-to-day basis. Government policies about its relationships with businesses are not static overtime. These shifts expose industries to opportunities and threats. The opportunities can come in the form of governments as large purchasers of good and services, subsidizing firms, protections of local/home made good against “Unfair” foreign competitions etc. On the other hand, government can create threats like antitrust laws, which limit mergers, policies that change economic conditions, tax law etc. 31 It is therefore of prime importance that business strategists should take into cognizance of the place of governments as influencers of their business growth, profit and survival (Ajao & Olubisi, 2012). b) Market/Competitive Factors: This has to do with “Primary demand” function. There exists the need for business strategists to put into consideration such factors as changes in population and age shifts, economies of scale, scarcity of raw materials, product/service life cycle, income distribution of population, entry and exit of major competitors etc. These factors will determine the type of product or service the organization is going to put into the market. c) Socio-Cultural and Psychological Factors: While some environmental factors may tend to be visible forces, the most important forces from the organization’s point of view are sometimes those affecting the behaviour of people. The organization has to consider the culture of people in its operating environment. This is important because the organization exist in a society and does not operate in a vacuum. d) Supply/Technological Factors: This factor on one hand, concerns the cost and availability of all factors of production and on the other hand, the technological changes affecting these factors of production. There is the need to consider these two factors in the formulation of corporate plans. 32 Strategists have to search the environment for changes in technology affecting their organization, production processes and methods, raw materials, products and services. As a guideline for effective appraisal of significant technological advancement, Ajao & Olubisi, (2012) suggested the following: i. Searching the environment for signals that may before runner of significant technological change. ii. Identify the possible consequences iii. Choosing the parameters, policies, events and decisions that should be observed and followed to verify the true speed and the direction of technology and effects of employing it. iv. Presenting the data from the forgoing steps in a timely and appropriate manner for management use in decisions about the organization’s reaction. 2.2 Barriers to Effective Corporate Planning in an Organization Some rapid environmental changes have been identified as principle factor impeding effective planning. These changes include technological, political, social and economic capabilities in the nation. And these changes vary based on industries. Managerial incompetence’s on the part of the planning may also effect planning. Grey (2011), argues that some managers are unwitting to spend time 33 forecasting, analyzing and evaluating plans and rather prefer to invoke on existing plans to handle contingencies. This gesture tends to rob the organizations from deriving the various benefits associated with forecasting and environmental analysis etc. It is also important to note that the delegation of corporate planning, which is a sensitive responsibility to inexperienced subordinate who lack the skills and capabilities required to handle such strategic organizational task. Aluko et al (2012) listed the following barriers to include, Bureaucratic organizational structure, lack of commitment of enough resources needed to finance and execute plans, poor and ineffective information system, which hinders communications among the component part of the organization, absence of regular review and evaluation of long range planning to reflect new situation etc all these factors tend to pose problems to corporate planners, in their pursuit of corporate excellence. 2.2.1 Overcoming Corporate Planning Barriers in an Organization According to Inyang (2013) the following measures may be initiated to overcome the barrier to effective corporate planning. a. Top-Management: Corporate planning is a top management responsibility for the success of planning, there must be the support and commitment of the top executive throughout the planning process from formulation to implementation and review and monitoring of policies and plans. 34 b. Developing Effective Communication Network: Even if planning is a top management responsibility, plans must be communicated to all organizational members in the different organizational levels. Failure to do this results in poor implementation. c. Developing Planning culture: Planning culture must be developed in organizational members as a way of life. This enables them to see planning as very important, useful and valuable for organizational success. d. Flexibility in Plans Implementation: Organizational planners must exercise flexibility on the implementation of plans. This is because rigidity could be dangerous to goal planning and not seeing it as a panacea for solving all organizational problems. e. Effective Organizational Structure: A formal planning system involves interactions and inter-relationship among individuals in the different levels in the organization. In order to plan effectively, management must define these relationships within and outside the organization. Responsibility and authority relationship must be properly defined. f. Forecasting and Information System: For planning to be successful, there must be a system for assessing the future, gathering and disseminating information vital for planning. Decision must equally be made after a careful 35 evolution of facts and information. Similarly, results should be monitored and evaluated as this relates to the goal setting. g. Qualification: A sound corporate plan should be comprehensive and functionally integrated into parts. It should be expressed in qualifiable or measurable terms. Such a plan however does not have to be elaborate or complicated rather it should be logical and focused on the strategic decision that will have to be taken. h. Conflict and Role Ambiguity Reduction: Effective corporate planning can result from proper formulated and well-designed plans which are devoid of conflicts and role ambiguity. This provides the individual with a clear picture of what is expected of them. 2.3 Organizational Performance Organizational performance is defined as an analysis of a company's performance as compared to goals and objectives (Kornelius et al., 2021). Within corporate organizations, there are three primary outcomes analysed, financial performance, market performance and shareholder value performance (Pearce et al., 2005). The concept of organizational performance is based upon the idea that an organization is the voluntary association of productive assets, including human, physical, and capital resources, for the purpose of achieving a shared purpose 36 (Carton, 2004). Organizational performance comprises the actual output or results of an organization as measured against its intended outputs. According to Ogbo, et al., (2013) organizational performance encompasses three specific areas of firm outcomes, financial performance such as profits, return on assets and return on investment), product market performance such as sales, market share and shareholder return measure through total shareholder return and economic value added. Organization performance refers the transformation of the inputs into the outputs for achieving the desire or certain outcomes. Performance is the relationship between the minimum and the effective cost, effective cost and maximum output and output and achieved outcomes (Meyer, 2006). Therefore, the organization performance is the result of the employee’s experience and their commitment (Aturu-Aghedo, 2010). The employees are committed to their work will give the better performance. For an organization to continue having a comparative advantage over its competitors, there is a need for it to always evaluate it performance. It is important for managers to know which factors influence an organizational performance in order for them to take appropriate steps to initiate them. Koontz and Weihrich (2019), sees organizational performance as the ability of an enterprise to achieve such objectives as high profit, quality product, large market share, good financial 37 results, and survival at pre-determined time using relevant strategy for action. Organizational performance can also be used as a measure of knowing the growth of an enterprise in terms of it’s profit level, market share and quality in relation to it’s competitors in the same industry. Consequently, it is a reflection of productivity of members of an enterprise measured in terms of revenue, profit, growth, development and expansion of the organisation. Pearce et al., (1987) posit that organizational performance can be measured through three basic outcomes which are financial performance, product market performance and return to the shareholders. Schneider et al., (2003) had found that micro-orientation on way to job attitude and performance relationship is somewhat puzzling, the interest of the employee attitudes had much of its motivation in the 1960s when organizational scientists such as Argyris (1999), Likert (1961), and McGregor (1960) purposed that the organizational performance is a result of the employee experience and commitment. Integrity has been explained as the best of the human state, the better the humans are committed to their tasks will lead to their better performance that results in better results. Armstrong (2003) is concerned that performance should be defined as the outcome of work because they provide the strongest linkage to the strategic goals of the organization, customer satisfaction, and economic contributions. Chen and Barnes (2006) contend that organizational performance is transformation of inputs 38 into outputs for achieving certain outcomes. With regard to its content, performance informs about the relation between minimal and effective cost (economy), between effective cost and realized output (efficiency) and between output and achieved outcome (effectiveness). Organizational performance is therefore the ability of an organization to fulfil its mission through sound management, strong governance, and a persistent rededication to achieving results. Parasuraman (2021) proposed that firms delivering services must broaden their examination of productivity from the conventional company-oriented perspective to a dual company-customer perspective. This broadened approach can help reconcile conflicts or leverage synergies between improving service quality and boosting service productivity (Parasuraman, 2021). This research considers organization performance relative to the competition from multiple organizational perspectives including quality, productivity, market share, profitability, return on equity, and overall firm performance. Other non-financial measure of performance such as increase in customer base, market share increase, quality service delivery and increase in firm branch networks (Bernthal & Wellins, 2006). Performance is a measure of results achieved by individual, group, and organization. Organization performance is defined as a continuous and action oriented with focus on improving performance by using objective, standards, 39 appraisal, and feedback (Grant, 2008). Organizations performance comprises the actual output or results of an organization achievement as measured against its intended goals and objectives. Organizations adopt performance measurement because it creates accountability, provides feedback to operations, and result in more effective planning, budgeting, and evaluation (Ammons, 2022). The performance as stated by Gliem and Gliem (2003) is an end results of an activity, and an organizational performance is accumulated end results of all the organizations work processes and activities. Managers measure and control organization performance because it leads to better assessment for management, to increase the ability to provide customer value, to improve measures of organizational knowledge, and measure of organizational performance do have an impact on an organization’s reputation. When the performance of the organization is assessed, the past management decisions that shaped investments, operations and financing are measured to know whether all resources were used effectively, whether the profitability of the business met or even exceeded expectations, and whether financing choice were made prudently (Shaukat et al., 2008). Organizational performance is conducted to support decisions concerning whether program or project should be continued, improved, expanded, or curtailed (Rossi et al., 2019). For an organization to continue having a comparative advantage over its competitors, there is a need for it to always evaluate it performance. It is 40 important for managers to know which factors influence an organizational performance in order for them to take appropriate steps to initiate them. 2.4 Measures of Organizational Performance a) Cost effectiveness According to Drury (2004), cost effectiveness focuses on cost reduction and continuous improvement and change rather than cost containment. The term cost reduction could be used instead of cost optimization. Whereas traditional cost control systems are routinely applied on a continuous basis, cost optimization tends to be applied on an ad hoc basis when an opportunity for cost reduction is identified. Cost effectiveness consists of those actions that are taken by managers to reduce costs, some of which are prioritized based on information extracted from the accounting system. Although cost optimization seeks to reduce costs, it should not be at the expense of customer satisfaction. Ideally, the aim is to take actions that will both reduce costs and enhance customer satisfaction. Cost effectiveness has become an essential emphasis in today’s highly competitive business environment. b) Waste Minimization Waste is defined by Gobbi (2008) as unnecessary work or holding stocks because of errors, poor organization or communication. Contributing to the same, Li & 41 Olorunniwo (2008) focused on the disastrous implication of having wastes in the form of repairs, recalls and image control. On their part, Elmas and Erdogmus (2011) summarize the importance of waste reduction as positive environmental impact, legal compliance, competitiveness advancement and improved customer service. Liu (2008) defines waste minimization as the process and the policy of reducing the amount of waste produced by an entity. This is shared by Wang (2005) who adds that waste reduction involves efforts to minimize resource and energy use during manufacture. For the same commercial output, usually the fewer materials are used, the less waste is produced. Waste reduction usually requires knowledge of the production process and detailed knowledge of the composition of the waste. In any manufacturing process, there will always be wastes and scraps. In Srivastava (2008), waste is further defined as unnecessary work or holding stocks as a result of errors, poor organization or communication, while scrap refers to defective product or material that cannot be repaired, used or sold. Gobbi (2011) found that reasons for the creation of waste sometimes include requirements in the supply chain. For example, a company handling a product may insist that it should be packaged using packing because it fits its packaging equipment. Total quality management (TQM) philosophy advocates for getting it right the first time and all the times (Lysons, 2006). This would ensure minimum waste is generated in the supply chain. Material waste in publishing 42 includes tree parts not turned into pulp, packaging materials, rejected print runs and wastes, returns and used publications (Agrawal, 2010). In addition, Prahinski and Kacobasoglu (2006) argues that idle labour time as a waste leads to increased overhead costs. In efficient production processes and defective equipment may also lead to increased wastes, which Cheng & Wu, (2006) notes would have disastrous implications in form of repairs, recalls and image control. Companies have been pushed by competitive pressures towards cost reduction and performance improvement of operations to provide better quality products to very demanding markets. The approach of waste reduction and performance has been gaining importance in organizations operations (Gurumurthy & Kadal, 2011; Taj & Morosa, 2011). Waste reduction can be achieved through implementation of lean production systems that includes assessing current situation and designing a production system based on lean system concepts &techniques (Womack &Jones, 2003). c) Speedy Service Delivery speedy service delivery refers to the actual swift in the delivery of service and products to the customers or clients. (Lovelock & wright, 2021; in Nico and Ophillia, 2015). According to Chen et al, (2009), innovation in speedy service delivery orientation refers to an organization’s openness to new technologies, resources, skills and administrative systems. Speedy service delivery gives an 43 organization advantage over it competitors. Customers are presumed to be one of the most important stakeholders in any organization because without them organizations are likely not going to succeed. (Sakwa and Oloko, 2014). The basic reason for an organization’s existence is the ability to satisfy customer needs and though that make way for repeat patronage which will open the avenue for increased profit making (Appah & Bambo, 2012). Furthermore, the survival of any organisation highly depends on the quality of service delivery system and the relationship with its customers and organizations should develop effective relationship marketing to understand the requirement of their customer. d) Resolution of Customers Complaint Aguoru et al., (2018) asserts that customer complaints are opportunities to collect information about a customer’s needs, opinions, attitudes, and beliefs. In most cases, upset customers are looking for help and clarity, not trouble, and are simply responding to common issues such as product or service quality, Safety concerns, timing, color and sizing, overpricing, accidental charges, shipping errors, broken promises, Misleading advertising. A customer complaint highlights a problem, whether that's a problem with your product, employees or internal processes, and by hearing these problems directly from your customers, you can investigate and improve to prevent further complaints in the future. Furthermore, research finds 44 that customers’ whose complaints are handled quickly can often turn into loyal customers and even brand advocates. 2.5 Relationship between Corporate Planning and Organizational Growth Because they provided the appropriate product at the right time for many years, many of today's great commercial organisations are still in operation. In the past, many important decisions were made without the advantage of corporate planning. They generated momentum that propelled these organisations to their current positions. But modern managers are increasingly aware that in the constantly shifting world of today, wisdom and intuition alone are insufficient to lead the organisations. Uncertainty, instability, and changing environments have essentially become the norm rather than the exception; top management is under more pressure than ever before as a result of rising inflation, increased foreign competition, technological obsolescence, and shifting market conditions. Managers are increasingly relying on corporate planning to help them respond more accurately, on time, and with a plan of action in mind. 45 CHAPTER THREE METHODOLOGY 3.1 Research Design Research design is an outline or a scheme that serves as a useful guide to the researcher in their effort to generate data for the study (Ofili, 2016). The researcher used survey method of investigation which uses mainly questionnaire as measuring instruments. 3.2 Selection of Data The researcher made use of both primary and secondary source of data. Primary Data: These refer to direct information concerning an event or phenomena from an individual who is an eye witness to that event (Young, 2019). Secondary Data: These are data that discuss, interpret, analyze, evaluate, summarize and process primary sources of data the method for getting secondary data information are from text books, internets, seminar or papers, magazines, journals. 46 3.3 Collection of Data There are several instruments used in the collection of data. The main instrument the researcher used for this study is the questionnaire for eliciting information from the staff of selected firms in Umuahia, Abia State. 3.3.1 Design and Administration of Survey instruments Questionnaire was used as research instrument in this work. The nature of the questions was close ended where options were given to respondents to choose from. The questionnaire was divided into two parts. Part "A" contains general demographic questions. Part "B" contains key research variables questions with regard to the scoring of responses, a 5- point Likert-scale was constructed the following pattern: Strongly agree 5, Agree 4, Undecided 3, Disagree 2, Strongly Disagree - 1, in which the respondents were asked to pick one. The questionnaire contains a total of 20 questions. The researcher administered the questionnaire by hand on a one time visit to the organization. The researcher collected copies of the questionnaire from the respondents after one week. A copy of the questionnaire is enclosed as appendix B. 47 3.4 Population According to Sekaran (2013), population is defined as the total collection of individuals or objects known to have similar characteristics. The population of the study is made up of all the operational staff, excluding drivers, cleaners, securities men, agents etc. The population is presented in table 3.1 Table 3.1: Population of the firm S/N Selected Firms Address/Location Population 1. Fedex Nigeria 15B Aba Road, Umuahia, 68 2. Jonnykelle Farms Ltd JK House 6, Accara Lane, Umuahia, 45 3. Zestgold Security Limited 20 Kaduna Street, By Uzuakoli Road, Umuahia, 33 4. Demestern Cleaning Services 69, Abam Street, Umuahia North, Umuahia 23 5. Film Land Production 28, Awkuzu Lane, Umuahia North, Umuahia, 40 Total 209 Source: Field Survey, 2024 48 3.5 Sample Size Determination A sample is any portion taken from a population or universe to represent that population. Onyenankeya, (2000) said that sample is a portion of the population of interest selected for study to represent the entire population. According to Uchenna et al. (2018), Yamene method is a mathematical model will be used to determine the sample size for the study. Thus, the formula is; N 1 + N (e)2 Where; n = sample size N = Population e = level of significance = 5% and N= 209 e = 5/100 = 0.05 n = 209 1+ 209 (0.05)2 209 1+209 (0.0025) Sources: (Yamane, 1964) 49 209 1+0.5225 209 1.5225 n = 137 Therefore, the sample size that would be used in the course of this study is 137 respondents. Proportional allocation of sample Size To proportionally allocate all copies of questionnaire among the various firms, Bowley’s formula was used: (Uchenna et al., 2018) nh = nNh N Where; nh = Number of units allocated to each stratum Nh = Number of staff in each stratum n = Sample size N = Population Fedex Nigeria = 137 x 68 = 45 209 Jonnykelle Farms Ltd = 137 x 45 = 30 209 50 Zestgold Security Ltd = 137 x 33 = 21 209 Demestern Cleaning Services = 137 x 23 = 15 209 Film Land Production = 137 x 40 = 26 209 Table 3.2: Proportional allocation of sample size Names of Selected Firms in Aba Staff Strength Sample Size Fedex Nigeria 68 45 Jonnykelle Farms Ltd 45 30 Zestgold Security Limited 33 21 Demestern Cleaning Services 23 15 Film Land Production 40 26 Total 209 137 Source: Field Survey, 2024 3.5.1 Sampling Technique Following the nature of this study, the non-probability sampling was adopted. The convenience sampling technique which is a form of non- 51 probability sampling was selected based on availability of the respondent at the time of visit and accessibility to the researcher. 3.6 Operational Measure of Variables This aspect of the study looks at how the researcher measures the variables, dependent and independent in the hypotheses. First hypothesis (HO1): There is no significant relationship between implementation of plan and cost effectiveness. The independent variable is implementation of plan while the dependent variable is cost effectiveness, Both the independent and the dependent variables were measured based on respondent’s assessment. Second hypothesis (HO2): There is no significant relationship between economic forces and speed of service delivery. The main independent variable is economic forces while the dependent variable is speed service delivery, Both the independent and the dependent variables were measured based on respondent’s assessment. Third hypothesis (HO): There is no significant relationship between technological factors and waste minimization. The main independent variable is technological factors while the dependent variable is waste 52 minimization. Both the independent and the dependent variables were measured based on respondent’s assessment. 3.7 Data Analysis Technique The data were analyzed with Statistical Package for Social Sciences (SPSS 22.0). Descriptive statistics in the form of frequencies, tables, percentages, mean and standard will be used to answer the research questions and items related to the characteristics of respondents. The Assumption: The data should be at least ordinal, meaning that it can be ranked. While the Spearman rank correlation can be applied to both ordinal and interval data, it is particularly useful for ordinal data, where the order of values is meaningful, but the intervals between them may not be. Decision Rule: Reject the null hypotheses if the calculated value is greater than a table value at a degree of freedom of 5% level of significance. If not accept the alternative. 53 CHAPTER FOUR PRESENTATION AND ANALYSIS OF DATA 4.1 Questionnaire Distribution Table 4.1: Administration and Retrieval of Questionnaire S/N Name of firms No. of Questionnaire Administered No. of correctly filled and returned Questionnaire No. of unfiled and not returned questionnaire Returned 1. Fedex Nigeria 68 45 23 92 2. Jonnykelle Farms Ltd 45 30 15 88 3. Zestgold Security Limited 33 21 12 78 4. Demestern Cleaning Services 23 15 8 82 5. Film Land Production 40 26 14 90 TOTAL 209 137 73 87Source: Field work 2024 Table 4.1 shows that 209 employees from 5 selected firms in Umuahia, Abia State, were administered the questionnaire out of which 137 copies of the questionnaire were duly completed and retrieved by the researcher for analysis. 54 4.2 Analysis of Demographic Variables 4.2.1 Descriptive Analysis of Gender Characteristics of the respondents. This study investigated the gender characteristics among the respondents under study. The summary of their responses is as shown in table 4.2 and fig. 4.1 Table 4.2: Gender Distribution of Respondents Frequency Percent Valid Percent Valid Female 61 44.5 44.5 Male 76 55.5 55.5 TOTAL 137 100.0 100.0Source: Field work, 2024 Table 4.2 and the pie chart below displays the distribution according to the gender of the participants with male being 76 (55.5%) and females 61 (44.5%). The implication thereof is that the male respondents are in the majority. Thus showing that most selected Firms in Umuahia, Abia State were more disposed to employing more female than male. 55 Fig 4.1 Gender distribution of the respondents 4.2.2 Descriptive Analysis of the Age profile of the respondent. This study investigated the age profile of the respondents in the selected firms in Umuahia, Abia State, Nigeria under study. The summary of their responses is as shown in table 4.3 and fig. 4.2 Table 4.3 Age Distribution of Respondents Source: Field work, (2024) 45.5 55.5 Gender MALE FEMALE Frequency Percent Valid Percent Valid Less than 25 31 22.6 22.6 26-45 years 83 60.6 60.6 46 years and above 23 16.8 16.8 TOTAL 137 100.0 100.0 56 Fig 4.2 Age distribution of the respondent From the table 4.3, it can be observed that 31 of the respondents representing 22.6 percent were less than 25 years. 83 respondents indicating 60.6 percent were within the age bracket of 25-39 years. 23 of the respondents indicating 16.8 percent were within the age bracket of 40-54 years. 4.2.3 Descriptive Analysis of Marital Characteristics of the Respondents This study investigated the marital status of the respondents in the selected firms in Umuahia, Abia State, Nigeria under study. The summary of their responses is as shown in table 4.4 22 60 16 0 10 20 30 40 50 60 70 less than 25 26-45 yrs 46 yrs and above 57 Table 4.4: Marital Status of Respondents Categories Frequency Percent Valid percent Single 70 51.09 51.09 Married 48 35.03 35.03 Divorced 9 6.56 6.56 Separated 10 7.29 7.29 Total 137 100 Source: Field work, 2024 Table 4.4 shows that 70 (51.09%) respondents are single; 48 (35.03%) respondents are married; 9 (6.56%) respondents are divorced and 10 (7.29%) respondents are separated. Fig 4.3 Marital status of the respondents 0 10 20 30 40 50 60 70 80 single married divorced separated Marital Status 58 4.2.4 Descriptive Analysis of the highest Educational Qualification of the Sample This study investigated the educational qualification of the respondents under study. The summary of their responses is as shown in table 4.4 and fig. 4.3 Table 4.5: Highest Educational Levels of Respondents Frequency Percent Valid Percent Valid M.sc 30 21.9 21.9 B.Sc/HND 66 48.2 48.2 O’level/ND 41 29.9 29.9 TOTAL 137 100.0 100.0Field work, 2024 The levels of educational qualification of the respondents were also considered. Table 4.5 above showed that 30 respondents representing 21.9% possessed a Master’s Degree, again 66 respondents indicating 48.2% possessed either B.Sc/HND and finally, the remaining 41 indicating 29.9% possessed either an NCE/ND. The implication of this is that most of our respondents possess the intellectual capacity to respond to the issues contained in our research instrument. 59 Fig 4.4 Educational qualification of the respondents 4.2.5 Descriptive Analysis on Years of Work Experience of the Sample This study investigated the Work Experience of the respondents under study. The summary of their responses are as shown in table 4.5 and fig. 4.4 Table 4.6 Work Experience of Respondents Frequency Percent Valid Percent Valid Less than 5 years 11 8.0 8.0 6-10 years 111 81.0 81.0 11 – 15 years 15 10.9 10.9 15 years and above - - - TOTAL 137 100.0 100.0Source: Field Work, 2024 0 10 20 30 40 50 60 70 O'Level/ND B.Sc/HND M.Sc /PH/d Educational Qualification 60 Table 4.6 and figure 4.5 below describes the distribution for respondents’ years of experience or tenure with their various selected deposit money in Abia State. From the data presented in table 4.5, it can be observed that 11 respondents indicating 8.0 percent had worked for less than 5 years, 111 respondents which indicated 81.0 percent had been working for a period between 5-10 years, 15 respondents which indicated 10.9 percent had been working for a period between 11-15 years, no respondent on 15 years and above. Fig 4.5 Year of experience of the respondent 0 20 40 60 80 100 120 less than 5 yrs 6-10 yrs 11 yrs and above Year of Experience 61 4.3 Statistical Analysis of Data Table 4.8: Responses on implementation of Plan S/N Statement SA A UN D SD Total Mean (a) Implementation of plan is often hindered by unforeseen environmental developments. 68 55 5 3 6 137 4.2 (b) Poor implementation of plans often lead to corporate ineffectiveness and inefficiency. 78 39 - 11 19 137 4.3 (c) Effective implementation of plan is critical to the achievement of the objectives. 70 57 5 3 2 137 4.4 (d) Implementation of plans often depends on the communication effectiveness of the manager. 65 64 2 2 4 137 4.3 (e) No matter how good a plan is, poor implementation often leads to loss of the objectives 65 61 9 1 1 137 4.4 Total 346 276 21 20 22 685 4.3 Average Total 69 55 4 4 5 137 4.3 Percentage 50 40 3 3 4 100Source: Field work, 2024. The table 4.7 shows that 69 (50%) of the respondents ticked strongly agreed, 55 (40%) of the respondents ticked agree 4 (3%) ticked undecided, while 4 (3%) ticked disagreed and also 5 (4%) of the respondents ticked strongly disagreed. The minimum value of the weighted mean is 4.2 on a 5 – point scale. This shows a very high response. 62 Table 4.9: Responses on Cost Effectiveness S/N Statement SA A U D SD Total mean (a) Our organization's focus on cost-effectiveness has a positive impact on overall performance. 80 46 5 6 - 137 4.6 (b) Cost-saving measures within the organization improve our ability to achieve performance goals. 89 36 6 2 4 137 4.5 (c) Investing in cost-effective practices has enhanced the efficiency of our operations. 79 53 - 3 2 137 4.5 (d) Cost-effectiveness initiatives in our organization lead to higher employee productivity and morale. 68 64 2 2 1 137 4.4 Total 316 199 13 13 7 548 4.5 Average Total 79 50 3 3 2 137 4.5 Percentage 58 37 2 2 1 100Source: Field work, 2024. Table 4.8shows that on the average, 79 (58%) respondents, 50 (37%) respondents, 3 (2%) respondents, 3 (2%) respondents and 2(1%) respondent strongly agreed, agreed, had not decided, disagreed and strongly disagreed respectively. The minimum value of the weighted mean is 4.4 on a 5 – point scale. This shows a very high response. 63 Table 4.10: Responses on Speed of Service delivery S/N Statement SA A U D SD Total Mean (a) Our organization prioritizes service delivery speed in its strategic planning processes. 82 47 1 1 6 137 4.4 (b) Efficient corporate planning enables our organization to overcome delays and maintain high service delivery speed 97 36 1 2 1 137 4.6 (c) There is a strong relationship between our organization’s corporate planning for quick service delivery and our competitive advantage. 49 78 - 7 3 137 4.2 (d) Our organization has effective processes in place to ensure timely service delivery. 61 62 - 7 7 137 4.2 Total 289 223 2 14 17 548 4.4 Average Total 72 56 1 4 5 137 4.4 Percentage 53 41 1 3 4 100Source: Field work, 2024. As shown in table 4.9, an average of 72 (53%) respondents, 56 (41%) respondents, 1 (1%) respondents, 4 (3%) respondents and 5 (4%) respondents strongly agreed, agreed, had not decided, disagreed and strongly disagreed respectively. The minimum value of the weighted mean is 4.2 on a 5 – point scale. This shows a very high response. 64 Table 4.11: Responses on Economic forces S/N Statement SA A U D SD Total Mean (a) Our organization’s corporate planning strategies are flexible enough to adapt to economic changes 77 50 3 1 6 137 4.4 (b) Economic conditions significantly influence our organization’s corporate planning processes 82 42 3 7 3 137 4.4 (c) The organization has adequate resources to withstand economic downturns. 97 29 4 1 6 137 4.5 (d) Economic forces have led our organization to implement new strategies or innovations. 84 39 4 6 4 137 4.4 Total 340 160 14 15 19 548 4.4 Average Total 85 40 4 4 5 137 4.4 Percentage 62 29 3 3 4 100Source: Field work, 2024. As shown in table 4.10, on the average, 85 (62%) respondents, 40 (29%) respondents, 4 (3%) respondents, 4 (3%) respondents and 5 (4%) respondents strongly agreed, agreed, had not decided, disagreed and strongly disagreed respectively. The minimum value of the weighted mean is 4.4 on a 5 – point scale. This shows a very high response. 65 Table 4.12: Responses on Waste Minimization STATEMENT SA A U D SD TOTAL Mean A Our organization’s profitability has improved due to effective waste minimization practices. 100 28 8 - 1 137 4.4 B Minimizing waste in our processes leads to better resource utilization and cost savings. 67 60 5 3 2 137 4.4 C The organization’s commitment to reducing waste positively impacts employee morale and productivity. 78 53 1 3 2 137 4.5 D Waste reduction initiatives contribute to increased efficiency in our organization. 62 65 4 5 1 137 4.3 Total 307 206 18 11 6 548 4.5 Average total 77 52 5 3 2 137 4.5 Percentage 56 37 3 2 2 100Source: Field work, 2024. As shown in table 4.11, on the average, 77 (56%) respondents, 52 (37%) respondents, 5 (3%) respondents, 3 (2%) respondents and 2 (2%) respondents strongly agreed, agreed, had not decided, disagreed and strongly disagreed respectively. The minimum value of the weighted mean is 4.3 on a 5 – point scale. This shows a very high response. 66 4.4 Test of Hypotheses As indicated in chapter one, the three hypotheses were tested using Spearman Rank Correlation Coefficient Analysis. 4.4.1 Test of Hypothesis One Ho1: There is no significant relationship between implementation of plan and cost effectiveness. Ha1: There is a significant relationship between implementation of plan and cost effectiveness. Table 4.9 and table 4.8 were used for the correlation between appraisal process and employee morale. Table 4.13: Correlation implementati on of plan cost effectiveness Appraisal process Spearman's Rho Pearson Correlation 1 .852** Sig. (2-tailed) .000 N 137 137 cost effectiveness Pearson Correlation .852** 1 Sig. (2-tailed) .000 N 137 137 **. Correlation is significant at the 0.02 level (2-tailed). 67 The table above shows a coefficient of 0.852 at p= 0.000 (p = 0.000, p < 0.05). The p-value (0.000) is less than the significant level of 0.05, thus the null hypothesis is rejected and alternate hypothesis is accepted. The result of Spearman Rank Correlation test revealed that there is a significant and positive relationship between implementation of plan and cost effectiveness. 4.4.2 Test of Hypothesis Two H02: There is no significant relationship between economic forces and speed of service delivery. Ha2: There is a significant relationship between economic forces and speed of service delivery. Table 4.7 and table 4.8 were used to test the correlation between appraisal techniques and employee morale. 68 Table 4.14: Correlation Economic Forces Speed of service delivery Economic forces Spearman's Rho Pearson Correlation 1 .517** Sig. (2-tailed) .000 N 137 137 Speed of service delivery Pearson Correlation .517** 1 Sig. (2-tailed) .000 N 137 137 **. Correlation is significant at the 0.02 level (2-tailed). The table above shows a coefficient of 0.517 at p= 0.000 (p = 0.000, p > 0.05). The p-value (0.000) is less than the significant level of 0.05, thus the null hypothesis is rejected and alternate hypothesis is accepted. The result of Spearman Rank Correlation test revealed that there is a significant and positive relationship between economic forces and speed of service delivery 4.4.3 Test of Hypothesis Three H03: There is no significant relationship between technological factors and waste minimization. Ha3: There is a significant relationship between technological factors and waste minimization. 69 Table 4.10 and table 4.11 were used to test the correlation between appraisal feedback and employee confidence. Table 4.15: Correlation Technological Factors Waste Minimization Technological Factors Spearman's Rho Pearson Correlation 1 .720** Sig. (2- tailed) .000 N 137 137 Waste Minimization Pearson Correlation .720** 1 Sig. (2- tailed) .000 N 137 137 **. Correlation is significant at the 0.02 level (2-tailed). The table above shows a coefficient of 0.720 at p= 0.000 (p = 0.000, p > 0.05). The p-value (0.000) is less than the significant level of 0.05, thus the null hypothesis is rejected and alternate hypothesis is accepted. The result of Spearman Rank Correlation test revealed that there is a significantly moderate and positive relationship between technological factors and waste minimization. 70 CHAPTER FIVE SUMMARY, CONCLUSION AND RECOMMENDATIONS 5.1 Summary of Findings The findings of the study are: 1. There is a significant and positive relationship between implementation of plan and cost effectiveness. 2. There is a significant and positive relationship between economic forces and speed of service delivery 3. There is a significantly moderate and positive relationship between technological factors and waste minimization. 5.2 Conclusion In conclusion, the findings of the study underscore the fact that corporate planning and strategic decision making are paramount in effective utilization of scares resources and good financial management as well promote cordial relationship between management and their staff, thereby helping staff to understand stated organizational goals and Functions. Uncertainty and environmental threats are taken care of, thereby safe guarding the future of establishment/organization. The evaluation of stated objectives and decisions made helps organizational strategies to be effective, efficient and creditable. This is because their actions affect the overall activities of the organization. 71 Lengthy period should not be encouraged in corporate planning as this affects the social economic and political atmosphere present in existence in Nigeria where their price fluctuation and economy recession as such all forward looking organization should embark on corporate planning to be able to overcome the turbulent business environment. 5.3 Recommendations The study recommends that the management at selected firms in Umuahia Abia state should ensure that: i. Corporate planning should be adopted by firms that will position the firm to achieve its objectives rather than watch or wonder at changes that take place in the environment to enable the firm adapt promptly to these changes. ii. Corporate planning should be implemented in organizations that want to grow in the recent business environment because its necessity gives deeper understanding on how managers should use corporate planning and strategy to detect changes in the economic environment and how these changes may affect their business operation especially those factors that influence economic growth and future aggregate demand engage on government and private in corporate planning and strategy in order to facilitate control for effective and efficient management. There are plans to be use as standard 72 which specify goals and objectives of the firm to accomplish within a specific period of time. iii. 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Years of Work: a. less than 5 years b. 6 – 10 years c. 11 – 15 years d. 15 years and above 79 SECTION B: QUESTIONS ON KEY RESEARCH VARIABLES Guide: To each of the statements that follow, indicate how far you agree with it by ticking one of the following responses. 5 = Strong agree; 4 = Agree; 3 = Disagree; 2 = Strongly disagree; 1 = Undecided S/N QUESTIONS 5 4 3 2 1 Total Implementation of Plan 1. Implementation of plan is often hindered by unforeseen environmental developments. 2. Poor implementation of plans often lead to corporate ineffectiveness and inefficiency. 3. Effective implementation of plan is critical to the achievement of the objectives. 4. Implementation of plans often depends on the communication effectiveness of the manager. 5. No matter how good a plan is, poor implementation often leads to loss of the objectives Cost Effectiveness 5 4 3 2 1 TOTAL 1. Our organization's focus on cost- effectiveness has a positive impact on overall performance. 80 2. Cost-saving measures within the organization improve our ability to achieve performance goals. 3. Investing in cost-effective practices has enhanced the efficiency of our operations. 4. Cost-effectiveness initiatives in our organization lead to higher employee productivity and morale. Speed of Service delivery 5 4 3 2 1 TOTAL 1. Our organization prioritizes service delivery speed in its strategic planning processes. 2. Efficient corporate planning enables our organization to overcome delays and maintain high service delivery speed 3. There is a strong relationship between our organization’s corporate planning for quick service delivery and our competitive advantage. 4. Our organization has effective processes in place to ensure timely service delivery. Economic forces 5 4 3 2 1 TOTAL 81 1. Our organization’s corporate planning strategies are flexible enough to adapt to economic changes 2. Economic conditions significantly influence our organization’s corporate planning processes 3. The organization has adequate resources to withstand economic downturns. 4. Economic forces have led our organization to implement new strategies or innovations. Waste Minimization 5 4 3 2 1 TOTAL 1. Our organization’s profitability has improved due to effective waste minimization practices. 2. Minimizing waste in our processes leads to better resource utilization and cost savings. 3. The organization’s commitment to reducing waste positively impacts employee morale and productivity. 82 4. Waste reduction initiatives contribute to increased efficiency in our organization.