FINDINGS, RECOMMENDATION AND CONCLUSION
According to the data analyzed and the hypothesis tested, it is observed that organizations engage in corporate planning to a great extent as 64% of the respondents attest to this. This shows that for an organisation to grow and survive in its competitive environment and also in the presence of some unforeseen circumstances in the future, the management of the organisation should give some thought to what its business will be in future in response to the changes taking place in its environment. In addition it is also observed that there is a direct linear relationship between planning and achieving the objectives. This shows that a good corporate plan is one that alligns with the objectives of the organisation.
This means that proper definition of the business operation of the organization should be made. The definition of the objectives needs to be clear unambiguous so as to enable the development of effective implementation of strategies. At times you find out that somebody might be in an organisation but do not know what the organisation is out for. This is mostly the case with workers down the ladder who are expected to carry out the plan. The researcher also find out that some times, actions will not conform to plan. The respondents indicated the reasons why there are some deviations between actual and planned activities in the organisation. Some said it is caused by making too broad and ambiguous plan, others opined that it is lack of communication of the planned activities while others believe that it is lack of monitoring and control of plans by management. One of the tested hypothesis also supported this by proving that monitoring and control of organisational plan reduces deviations from planned courses of action and also boost the performance of the organisation.
As a result of these findings, organisations should make their objectives clear as to the purpose and intention, it should also be reasonably and practically attainable and capable of being measured. In addition, objectives should cover all the significant areas of corporate performance and not just a single goal. The point becomes necessary when you consider the fact that most companies in trying to be broad in formulating attractive but practically unattainable goals thereby loosing sense of purpose and direction. To avoid this, the organisation should be able to re-define its business purpose in terms of its mission. If there is any disparity between what it is and what it should be, there is need for re-examination and re-adjustment in order to compete effectively in the market. However, it is also recommended that all the managers need to have an adequate and effective system of monitoring and control to assist them in making sure that activities conform to plans. Indeed if controls are to work, they must be specifically tailored to plans, and positions, to the individual managers and their personalities and to the needs for efficiency and effectiveness. One of the important ways of tailoring control to needs for efficiency and effectiveness is to make sure that they are designed to point-up exceptions. In other words, controls that concentrate on exceptions from planned performance allow managers to benefit from the time honoured exceptions principle and detect those areas that require their attention.
It can be concluded that corporate planning is of a substantial help to the organisation as a whole as it help the managers to predict the future and know how to respond to changes in their business environment. However, it is also concluded that a direct linear relationship exist between corporate planning and organisational objectives as clear and unambiguous plan enhances achievement of the objectives. Finally, corporate planning have a great impact on the performance of the organisation. Corporate planning will bring much better results than if not done. It will provide a useful framework for better understanding, innovation, vision and decision making. Whatever the situation, when corporate planning is applied effectively, the average frequency and amplitude of adjustment are smaller than the more disruptive ups and downs, which occur without it.
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