EFFECT OF STRATEGIC PLANNING AND ORGANIZATIONAL PERFORMANCE IN FMCG COMPANY IN NIGERIA

ABSTRACT The study investigated the effect of strategic planning on the organizational performance of FMCG (Fast-Moving Consumer Goods) companies in Nigeria. Strategic planning is a critical process that helps organizations define their long-term goals and develop a roadmap for achieving those objectives. The objectives of the study were to examine the relationship between strategic planning and the growth of fast-moving consumer goods, as well as the relationship between strategic planning and the expansion of fast-moving consumer goods. The study employed a descriptive research design and utilized a target population of 2,294 respondents, from which a sample size of 297 was chosen. A well-structured questionnaire was used as the research instrument, and a regression statistical analysis was employed to test the formulated hypotheses. The findings of the study revealed a significant relationship between strategic planning and the growth of fast-moving consumer goods. The study concluded that by engaging in comprehensive strategic planning processes, organizations are able to clearly define their long-term objectives, identify competitive advantages, and allocate resources effectively to capitalize on emerging market opportunities. The study recommended that FMCG organizations should establish formal and systematic strategic planning processes that are embedded into their core business operations, and that FMCG companies should cultivate a culture that encourages strategic thinking among all levels of the organization. Keywords: Fast-Moving Consumer Good, Strategic Planning, Expansion, Revenue, Growth, Organizational Performance