ABSTRACT
Corporate planning involves planning for an organization as a whole. It involves the acceptance that the enterprise does not operate in a vaccum and that its activities are affected by what goes on its environment. Thus, the ability of the management to understand the environment, make good forecast and then choose a proper course of action is the main thrust of this research. The major problem of this study is the ever dynamic nature of the environment and the unforseen circumstances that always arise. The major objective of this study is to know the extent to which organizations get involved in corporate planning so as to be able to anticipate and know how to respond to changes in the environment. The hypothesis are the null and the alternative.
Corporate planning involves planning for an organization as a whole. It involves the acceptance that the enterprise does not operate in a vaccum and that its activities are affected by what goes on its environment. Thus, the ability of the management to understand the environment, make good forecast and then choose a proper course of action is the main thrust of this research. The major problem of this study is the ever dynamic nature of the environment and the unforseen circumstances that always arise. The major objective of this study is to know the extent to which organizations get involved in corporate planning so as to be able to anticipate and know how to respond to changes in the environment. The hypothesis are the null and the alternative.
The null Ho states' that corporate planning has no
impact on the performance of the organization and alterantive
Hi states that corporate planning has impact on the performance of
the organization for the presentation and analysis of research work,
simple percentage was used but for testing of the hypothesis as well
chi-square was used. The major finding of the research is that
for an organization to grow and survive in its comptitive
environment and also in the presence of some unforeseen circumstances
in the future, the management should be able to anticipate and roespond
to changes in the environment. It is concluded that corporate
planning has a great impact on the performance of the
organizatin as engaging on it bring much better results than
if not done. Proper recommendation is that organization should
take corporate planning serious and managers should have adequate
and effective system on monitoring and control to make sure that events
conform to plans.
THE IMPACT OF CORPORATE PLANNING ON ORGANIZATIONAL PERFORMANCE
(A CASE STUDY ACCESS BANK PLC, OKPARA AVENUE ENUGU)
DEPARTMENT OF MANAGEMENT
FACULTY OF BUSINESS ADMINISTRATION
TITLE
The Impact of Corporate Planning on Organizational Performance (A Case Study Access Bank Plc, Okpara Avenue Enugu)
In Partial Fulfilment of the Requirement for the Award of Masters Degree (MBA) in Management
Department of Management
Faculty of Business Administration
(A CASE STUDY ACCESS BANK PLC, OKPARA AVENUE ENUGU)
DEPARTMENT OF MANAGEMENT
FACULTY OF BUSINESS ADMINISTRATION
TITLE
The Impact of Corporate Planning on Organizational Performance (A Case Study Access Bank Plc, Okpara Avenue Enugu)
In Partial Fulfilment of the Requirement for the Award of Masters Degree (MBA) in Management
Department of Management
Faculty of Business Administration
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CONTACT US TODAY FOR OUR SERVICESTABLE OF CONTENTS
TITLE ........................................................................................ i
DECLARATION ........................................................................ ii
CERTIFICATION ......................................................................iii
DEDICATION .......................................................................... iv
ACKNOWLEDGEMENT .......................................................... v
TABLE OF CONTENTS .......................................................... vii
ABSTRACT ............................................................................... x
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study ................................................ 1
1.2 Statement of the Problem ............................................... 3
1.3 Objectives of the Study ................................................... 4
1.4 Research Questions ....................................................... 4
1.5 Research Hypothesis ...................................................... 5
1.6 Significant of the Study ................................................... 6
1.7 Scope of the Study ......................................................... 6
1.8 Area of the Study ............................................................ 7
1.9 Limitations of the Study .................................................. 7
1.9.1 Definition of Relevant Terms .................................. 8
CHAPTER TWO
LITERATURE REVIEW
2.1 The Concept of Organization and its Environment ........................... 10
2.2 The Concept of Corporate Planning .............................. 14
2.3Organizational Design and Process of Corporate Planning .................... 19
2.4 Time Span of Planning .................................................. 24
2.5 Forecasting and Corporate Planning ........................... 26
2.6 The Board and Top Management ................................. 28
2.7 Corporate Planning and Organizational Performance ....................................... 32
CHAPTER THREE
RESEARCH METHODOLOGY
3.1 Research Design ........................................................... 38
3.2Population of Study ........................................................... 39
3.3 Sample and Sampling Techniques ............................... 39
3.4 Sources and Methods of Data Collection ...................... 41
3.5 Data Reliability and Validity ........................................... 43
3.6 Method of Data Analysis ............................................... 44
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS
4.1 Data Presentation ......................................................... 46
4.2 Test of Research Hypothesis ........................................ 54
CHAPTER FIVE
FINDINGS, RECOMMENDATION AND CONCLUSION
5.1 Findings ......................................................................... 63
5.2Recommendation .............................................................. 64
5.3Conclusion ......................................................................... 66
BIBLIOGRAPHY ........................................................... 68
APPENDIX .................................................................... 70
QUESTIONNAIRE ........................................................ 71
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
As the name implies, corporate planning involves planning for an organization as a whole. It is a systematic approach to strategic decision making. Corporate planning indicated a holistic approach for winning the goals of any organization. In general, planning is a management system, a process of allocating, effective and efficient use of scarce resources of
any organization to bring home its objectives and goals over a specific period of time. The principal motive of any business organization is to increase the value of the owners equity. The objective of any organization are achieved by effective and efficient use of its resources. An organization has mainly two types of resources:- the human resources and the monetary resources. All the resources are monetary except the human resources. Corporate planning can boost an organization to maximize the utilization of its resources and fashion in a befitting
manner to attain the enhancement of the shareholders wealth which is the basis of any corporate business. Corporate planning can yield many benefits for all types of business organization. It encouraged management to think ahead systematically, it forces the company to sharpen its objectives and policies, leads to coordination of organization's effort and
provides clear performance standards for control, sound planning helps the organization to anticipate and respond quickly to changes in the environment and take precautions for
sudden changes and developments. For instance, banks adopt precautionary measures during global financial crisis. Corporate planning involves the acceptance that the enterprise does not operate in a vacuum and that its activities are affected by what goes on in the world around it. It also questions - what can be done today to be ready for an uncertainty tomorrow. Thus the ability of the management to understand the environment, make good forecast and then choose a proper course of action that will enhance its existence as a corporate body. How well management have been or will be in doing this is the main thrust of this research.
1.2 STATEMENT OF THE PROBLEM
The future posed a serious problem to every business organization. All responsible managers see the continued existence of their organization as a major task of the management. Some of the problems an organization faces in achieving their goals are:-
a)Failure to plan which leads to planning of its failure.
b)Many organization today are not proactive rather reactive and focuses on the next quarter.
c)The day-to-day management system are not linked to strategy/plan so managers are not considering plan when they make decisions.
d)There are unforeseen external circumstances which the management can do nothing about.
1.3 OBJECTIVES OF THE STUDY
The objective of this study is to know:-
a)The extent to which organizations get involved in corporate planning.
b)Why corporate planning fails in some organizations.
c)The relationship between corporate planning and achievement of the goals and objectives of the organization.
d)The impact of corporate planning on the performance of the organization.
1.4 RESEARCH QUESTIONS
Some of the questions to which this research tends to provide answers to are:-
a)How does corporate Planning relate with achieving the objectives of the organization.
b)How does corporate planning affect the performance of the organization.
c)How does planning enhance managerial efficiency of the organization.
d)Why are there some deviations from planned courses of action.
1.5 RESEARCH HYPOTHESES
Ho: Corporate planning has no impact on the performance of the organization.
Hi: Corporate planning has impact on the performance of the organization.
Ho: Monitoring and controlling of organizational plan do not reduce deviations from planned courses of action and does not boost the performance of the organization.
Hi: Monitoring and controlling organizational plan reduces deviations from planned courses of action and boost the performance of the organization.
Ho: Corporate planning does not contribute to the achievement of the goals and objectives of the organization.
Hi: Corporate planning contributes to the achievement of the organizational goals and objectives.
1.6 SIGNIFICANT OF THE STUDY
This study is beneficial to corporate firms as a whole, management of organizations, and other researchers.
a) Corporate Firms
This study is meant to underscore the importance of corporate planning on business organizations as it helps firms as a whole to work towards achieving their goals and objectives.
b)Management
It will be of substantial help to the management of organization in predicting the future and knowing how to respond to changes in the environment.
c)Other Researchers
It will also be of substantial help to students who are carrying out similar research as it will serve as a secondary source of data.
1.7 SCOPE OF THE STUDY
This study is on the impact of corporate planning on organizational performance. It covers the period from 2009 to 2011.
1.8 AREA OF THE STUDY
Due to time and financial constraints the study is focused only on Access Bank Plc Okpara Avenue Enugu. It serves as the case study.
1.9 LIMITATIONS OF THE STUDY
There are some major factors that affected these study and these are known as the constraints. They include:-
a) Time
The time frame for this study is too short to carry out a rigorous research that would have given a better insight and elaboration on corporate planning and its impact on the performance of organization.
b) Insufficient Information
The nature of this topic made it to focus mainly on top management. This on its own proved to be a problem because it is always difficult to get some of the senior executives, and even some of them find it difficult to release some vital information.
c) Finance
This constitute a problem to this research because of this uncompromising attitude of the top management to release some vital information, most of the information has to be sought through the internet. However, the researcher was able to overcome this limitations by focusing the study on bank in Enugu Metropolis; Access Bank Plc Okpara Avenue in particular.
1.9.1 Definition of Relevant Terms
Decision Making
The Act of choosing between two or more possible courses of actions.
Efficiency
How well resources are utilized in pursuing various goals and performing various activities.
Goals
Long term aim of an organization or desirable future that an organization tends to accomplish.
Mission
What the organization as a whole wills to achieve and the time scale for achieving it.
Objectives
Specific concrete time bound, clear and quantifiable state of affairs which the organization is pursuing.
Strategies
The determination of the basic long-term objectives and the adaptation of courses of action and allocation of resources necessary for achieving these goals.
Vision
An achievable wish or dream that describes why the organization exists and remains constant for many years.
CHAPTER TWO
LITERATURE REVIEW
2.1THE CONCEPT OF ORGANIZATION AND ITS ENVIRONMENT
For proper understanding and appreciation of this topic, emphasis must be laid on what organization is all about and how it interacts with its environment to achieve its goals. According to F. Ezionye (2002:47) an organization is the process in which a group of people are structured in an interactive manner in order to set the accomplishment of a goal or objective. An organization is a combination of peoples' or individuals efforts, machines and money and working together to achieve common goals and objectives. An organization is related with developing a framework where the total work is divided into managerial components in order to facilitate the achievement of its goals and objectives. An organized enterprise does not exist in a vacuum but is dependent on its environment both internal and external to achieve its goals. It is a part of the large system such as the industry to which it belongs, the economic system and the society at large. Thus the enterprise receives inputs from the environment, process them and transfer out to the environment as output (goods and services). The inputs from the environment includes such things as people, capital, raw material, managerial skills as well as technical knowledge and skills. However, some of the external variables of the environment cannot be manipulated or controlled by the management of the organization rather they respond to them. See page 12 is the main thrust of this research. Akpala (1990:7) defines management as the process of combining and utilizing or allocating organization's input (man, material and money) by the process of planning, organizing, directing and controlling for the purpose of producing outputs (goods and services) desired by the customers so as to achieve the objectives of the organization. The ability of the organization to achieve its aims and objectives within specified limit is known as managerial efficiency. How well an organization uses its available resources to achieve desired goals is a source of concern for manager especially in this era of scarcity of resources. This also impacts heavily on the overall performance of the organization. Aluko, et al (1997) in Egbo (2011:96) posit that planning
is the activity by which managers analyse present conditions to determine ways of reaching a desired future state. Planning is one of the managerial functions which is seen by most people as the most basic of all. Since the managerial operations in organizing, staffing, directing and controlling are designed to support the accomplishment of the organizational goals and bjectives. Planning logically proceeds the execution of all other managerial functions. Although in practice, all the functions meet as a system of action, planning is unique in that it involves establishing the objectives necessary for all group efforts and performances. It is a process of using related facts and assumptions about the future to arrive at courses of action to
be followed in achieving organizational goals. Planning becomes easy in a stable environment where for example, competitors are well known, industry pricing is stable, cost structure are well understood and customers behave in a predictable manner. However, planning has been made more complex in the 1980's when organizations are faced by a radically different environment. Step changes and irreversible trends makes detailed planned drawn up in one year scarcely relevant in the next year. Industry invaders, new technology, deregulation and stock cost changes demands a different kind of planning process which takes into consideration views of the business, its competitive environment in the future and also the immediate short run steps which must be achieved. This is where strategic planning, comprehensive planning, total planning or what the researcher referred to as corporate planning comes in.
2.2 THE CONCEPT OF CORPORATE PLANNING
A company is a very complex organization acting in and reacting to its very complex environment. In order to move along with the dynamics of the environment in which they find
themselves, organizations make plans to guide their actions. Many writers have used words like corporate strategic plan, comprehensive corporate plan, total plan and even long range plan to refer to corporate plan. Whatever the name given to it, they all agree that it is a continuous systematic approach to strategic decision. They all believe like Hussey 1971:6) that
corporate planning involves acceptance that the company is not operating in a vacuum and that it is affected by what goes on in the world around it. Drucker (1964:9) defines corporate planning as making entrepreneurial decision, systematically and with the best possible knowledge of their future, organizing systematically the effort needed to carry out these decisions, and measuring the results against expectations through organized systematicfeedback. Branch (1966:21) sees it as plans for five to ten or more years into the future that incorporates and integrates all significant elements of the enterprise such as external environmental factors affecting the organization, market analysis, income and profit etc. Corporate strategic planning involves selecting the right goals and objectives for the organization in the uncontrollable circumstances within it and within the competence resources and ability of the organization. In top management planning, George Steiner refers to comprehensive corporate planning as a system approach to manoeuvring the enterprise over time through the uncertain waters of its environment to achieve prescribed aims. He tries to define corporate planning from points of view: The planning deals with the futurity of current decisions, the process, its philosophy and the structure of business plans. He argues that the purpose of comprehensive corporate planning is to discover future opportunities and make plans to exploit them. Correspondingly basic to long-range planning is the detection of threats and obstructions that must be removed from the ahead. Argents (1989:22) puts it more succinctly by referring to corporate planning as "a systematic process for deciding what the half-dozen top decisions are which an organization must not take in order to prosper over the next few years. Basically, corporate planning is concerned with today not with tomorrow. It is concerned with actions not with plans. It is founded on two propositions, that one cannot decide what actions to take unless one knows what one wants to achieve and that actions taken today can best be directed towards the achievement of the objectives if one knows as much as
possible about the future. According to Ewing (1972:6) the purpose of planning is not to preserve the future because no organization is assured of the future, but to enrich the present. It is an intellectual process of looking ahead, its basic aim being to provide an appropriate framework now that will ensure the realization of some goals later. From the ongoing, it then becomes clear that corporate planning has the more modest, if no less crucial purpose of seeking to optimize the collective of the continuing business. To do this, Bernard Taylor divides corporate planning into two parts:-
1.The formal process of developing objectives for the corporation and its component parts, evolving alternative strategies to achieve these objectives and doing this against a background of a systematic appraisal of internal strengths and weakness and external environment changes.
2.The process of translating strategy into detailed operation plans and seeing that these plans are carried out. It can be seen that corporate planning involves mostly decision making, choosing between alternatives. Therefore, it is said to take a systematic, rationalistic and decision making approach.
Decision making is essentially a stream of inter-related sequential and concurrent choices. One decision arrived today must have been influenced by those made in the past and in turn will affect, future decisions. Hence, planning establishes and carries out actions in the future. Effective decision making requires a rational selection of a course of action but complete rationality can seldom be achieved. How much does one know about the future? The unknown element is the worst enemy of the manager and overcoming it is his primary task. Simon (1976:45) in his principles of "bounded rationality" posits that it is impossible for any person to know all potential result. Therefore the manager can only settle for limited information from where he will select the best possible options. How then can one make do with what he has now, to prepare for the future? Then can one make do with what he has now to prepare for the future?
In the definition above, there are four essential aspects of corporate planning. In the first place, there must be clear quantifiable objectives and priorities to be pursued.
Secondly, there must be a planning horizon over which the plan is expected to last. Thirdly, information requires for taking decision regarding the plan must be made available
promptly and accurately. Finally, there should be a methodology for implementing the plan. This would include who would be responsible for various aspects of the plan. What resources will be needed, how would results be measured and what kinds of corrective actions will be taken when deviations from the plan are observed.
2.3ORGANIZATIONAL DESIGN AND PROCESS OF CORPORATE PLANNING
There is no single organization planning pattern that fits all companies, nor is there a single best organization for planning. This is so because organizations are different in
terms of size, diversity of operation, the way they are organized and the style and philosophy of their managers. Egbo Vin (2011:38) describes organizational design as the arrangement of the structure of relationships among jobs, personnel and physical factors, and this design gives rise to an oraganizational structure. Lerner and Baker (1976) in egbo (2011:38) opine that an organizational structure enables management to delegate and control the responsibilities of individuals and departments. Organizational structure defines the duties and responsibilities of the personnel employed in an organization and determine the manner in which themselves and their duties are to be interrelated. A widely accepted approach regarding the design and implementation of an effective formal system for an organization's long-range planning is that the system design should be contingent on the specific situational setting of each particular firm. It should be tailored to the specific corporate strategy, the organizational structure of the firm, the behavioural styles and preferences of the managers at hand. Steiner (1969:18) also adds that the establishment of a central corporate planning staff, and different planning arrangements between a divisionalized company and a centrally controlled and functionally organized company. The degree of authority enjoyed by decentralized division will influence the overall planning programmer likewise the nature of the product. He further argues that the personalities of the executives will have much to do with the organization. A strong chief executive may wish to do his own planning irrespective of the size of the enterprise, where as another may find it more to his liking to spread the planning task around. Henry (1978:16) in "formalized long-range planning in industrial companies" point out that the formal planning system require clear-cut assignments of specific planning functions to individuals and organizations units. Also planning procedures are specified to some degree in planning manuals or guidelines and regular time schedules are established for each major step in planning cycle. Irrespective of the type of organizational design evident in a particular company, the process that leads to the formulation and implementation of a corporate plan remains virtually the same. Writers agree that it should take a decision making approach. Their ideas of what a process of
corporate planning should look like is the same with little modification here and there depending on the level of sophistication of the writer.
Conceptually, the process is simple, managers at every level the corporate hierarchy must ultimately agree on a detailed integrated plan for the coming year and they arrive at
that agreement through a series of steps starting with the delineation of corporate objectives and concluding with the preparation of a profit plan. Akpala (1990:47) talks about the four steps of corporate planning, viz:
a)Assessment of trend of the international, national industry and company environment.
b)Identifying what the business is into.
c)Setting corporate objectives for so many years ahead.
d)Determination of suitable strategies to achieve these objectives.
Profitability
Return on capital employed
Avoidance of loss
John Argent (1987) elaborates more by dividing corporate planning into ten stages.
1.Forming the planning terms to take care of corporate planning.
2.Determine corporate objectives and targets.
3.Forecasting likely performance of the organization in order to compare the target with the forecast to reveal any gap.
4.Appraisal of the strength and weakness of the organization in terms of what is obtained in the industry and environment in general.
5.Determine threats and opportunities
6.Identify alternative strategies.
7.Select strategies
8.Evaluate selected strategies
9.Develop action plans to know who will do what, how where and why.
10.Monitor and control the plan to check for deviations. In all, three types of data are needed in developing a corporate plan; the corporate objective of the firm; its internal
strength and weakness and the threats and opportunities that may lie ahead of it. These three forms the main thrust of the corporate planning process.
2.4 TIME SPAN OF PLANNING
There are sizeable variations among organizations and between different aspects of a single organizations' operations. Some plan for two, three, five, ten years and more. There are a
number of considerations that influence the length of the planning period for a given firm. Most obvious is the degree of uncertainty in forecasts and predictions. If beyond a certain
point of time in the future, predicting efficiency drops to a level little better than adjusted work, there is nothing to be gained in evolving a complex set of plans for the unpredictable period.
Thus, it is not uncommon to restrict planning related to consumer market to three years simply because for many products these markets may become nearly unpredictable beyond that point. The time span of planning is also influenced by need of the company and factors absolutely crucial to a company's survival and growth. However, planning on the whole is frequently carried out on a continuity basis with constant recycling and revaluation. Every organization should be viewed as a dynamically evolving entity whose situational setting is subject to change. The result is that the design of the planning system must constantly evolve if it is to continue to be effective. Most organizations prefer to do a minimum of five year corporate plan. A definite timetable should be established so that person assigned to fulfil the plan will have pre arranged dates by which the successive phases of the operations are to be completed. The use of deadlines provide plan with a sense of urgency. Timing the plan starts with the division of the plan into logical phases. Each phase covers a specific aspect
of the plan and should be set up in its order of priority, so that a prerequisite phase is completed in time for the succeeding phase to commerce.
2.5 FORECASTING AND CORPORATE PLANNING
Chuke Nwude (2006: 15) defined forecasting as the act of describing what is likely to happen in the future, based on information that is available now. Forecast is a basic premise upon which planning proceeds. They are estimates of probability, essentially estimates of the way in which large numbers of human beings, each of whom is endowed with free will are likely to behave in the future. They rely on the law of large numbers, in so far as they assume that if some people change their minds in one direction, other people will change theirs in another direction. In corporate planning, the planners forecast the social and economic environment in which the firm operates and try to detect an opportunity for expansion which already has been detected by so many others that it will not be profitable. Thus, forecast should not be made in the air, but with some particular decision in mind, it is only with some
definite decisions in mind that we can decide which bits of the forecast that need to be known in detail, which can be done in general and which can be left out altogether. A firm continually makes estimates of what is likely to happen in the future so that it can decide on how much to produce and what to produce, what to invest in fixed capital and in inventories, how much labour will be employed etc. Ashton (1970) argues that even firms that think they do no forecasting unconsciously make some simple projections into the future of their experience in the recent past. Though forecasts are essential characteristics of human life, one should always remember that they are fallible. None of us knows exactly what will happen in the future because forecasting should not be regarded as a means of arriving at an accurate and detailed view of the future probabilities in an attempt to reduce the uncertainty, which must always surround the future. With a good forecast, a firm now finds it easier to project into the future and make a good plan, once the plan has been made. It should be translated into detail
estimates of profit, asset investment, and cash requirements predicted on how much money is expected to be available for meeting the organizations' objectives. This is what is known as budget.
2.6 THE BOARD AND TOP MANAGEMENT
Taylor et al (1973:256) defined the board as a committee elected by the owners of the enterprise (or appointed by the elected representative in the case of enterprises owned by the
community) to undertake certain duties on behalf of the owners and to be responsible to them for the carrying out of those duties. Originally, boards consisted of the founding fathers,
some sons and other members of the family and perhaps a trusted family solicitor, banker or a friend or two. In successive generations the composition may have been expanded to
include a few more outsiders unquestionably loyal to the owners of the company. In course of time, a "seat on the board" become recognized as the ultimate reward for a loyal employee for long and faithful service to the company.
The size of the board depends on so many variables:- the size and complexity of the company, its competitive environment, the capacity of the individual members etc. The most basic responsibility of a board is to choose and support competent top executives, to check their performances against budgets and to ensure that budgets are fully related to realistic
plans. Taylor (1988:258) argues that the board does not manage but directs and controls. The role of the board as important procedures of planning and control are the means of
fulfilling the fiduciary responsibility of directors to shareholders. However, the board is seen by many as a mere rubber stamp. They cannot initiate planning proposals or do the
research for them, but simply rubber stamp the decision of the executive team. Mann (1970:29) is of the view that the function of directors and boards as part of the management responsible for maintaining the competitive strength and profitability of the organization are not clearly defined and understood. As a result, many boards fail either to recognize or to fulfil their managerial responsibilities. Many directors indeed seem to be concerned only with board "policy" matters and feel little or no personal liability for the way the company is actually being managed. The board is legally accountable to its shareholders for the profitable management of their capital but in many cases this accountability is not translated into effective pressure on the organization's executive management to produce results. Francis (1960:82) posits that boards should be more independent for they are to stop being a mere rubber-stamp. But, the problem is how to get a board that is alert, creative and responsive, anything but a "rubber stamp" at the same time give management all the opportunity, flexibility and freedom it needs to do the best possible job. Some of the functions of the board are as follows:-
1.It improve the performance of business for the benefit of the shareholders, managers and employees.
2.It provide a philosophy and a set of principles which will guide the actions of the people involved in the business.
3.To set the strategy and direction of the organization.
4.To monitor and control the organizations operations.
On the other hand, the management consists of the chief executive officer and other top level managers of the organization. They are more involved with the planning of operations from initial proposal to implementation and monitoring. The chief executive faces a dilemma in that while he is worried about the future, he spends most of his time dealing with the day-to-day operations of the organization, who then should make plans? Among the planners must be the chief executive officer, his senior colleagues, a specialist planner inside the organization, a specialist from outside and any combination of these. Hussey (1971:7) like Argent, argues that while each type of organization will require a different combination of members, there should be a planning team with the chief executive officer as the leader. Long et al (1977:40) maintain that planning should be undertaken by those levels in an organization who are responsible for the strategic long-term decisions. This goes a long way to reaffirm the fact that planning should not be the duty of the board but the chief executive and other top level managers. Every top management knows that their corporate obligation is to plan for the future with unmistakable seriousness of purpose. However, they differ in their depth of experience with the process, the degree of sophistication developed and the means of implementation applied.
2.7CORPORATE PLANNING AND ORGANIZATIONAL PERFORMANCE
Corporate planning can be defined as the process of using systematic criteria and rigorous investigating to formulate, implement and control strategy and formally document organizational expectations (Higgins and Vineze, 1993). As in many other fields, corporate planning professionals often clock their work in pseudo scientific jargon designed to glorify their work and create client dependence. In reality, corporate planning processes are neither scientific nor complex. With modest, front end assistance and the occasional service of an outside facilitator, organizations can develop and manage an on-going and effective planning programme. In business, corporate planning provides overall direction for specific units such as financial focuses, projects, human resources and marketing. Corporate planning may be conducive to productivity improvement when there is consensus about mission and when most work procedures depend on technical or technological considerations. This study goes beyond the observation of some research that questioned the existence of direct casual relationships between the use of corporate planning and improved performance. This study draws from some of the many publications on the use of corporate planning in the private sector and from the growing number of those that deal with its uses and potential for the public sector. One of the major purpose of corporate planning is to promote the process of adaptive thinking or thinking about how to attain and maintain firm environment alignment. According to Berry (1997) corporate planning is a tool for finding the best future for your organization and the best path to reach that destination. Quite often, an organization's corporate planners already know much of what will go into a strategic plan. However, development of the corporate plan greatly helps to clarify the organization's plan and ensure that the leaders are all on the same script but far more important than the corporate plan document is the corporate planning process itself. The corporate planning process begins with an assessment of the current economic situation. First examine factors outside of the company that can affect the company's performance.
In most cases, it makes sense to focus on the national, local or regional and industry economic forecast. This part of the analysis should begin early at least a quarter or so before
the formal planning process begins. Hence, it has been concluded that corporate planning positively affects organizations' performance, or more specifically, the amount of corporate planning an organization conducts positively affects its financial performance. Since the case study used for this research is a bank, there is a need to understand corporate planning and financial performance relationships in banks. The results from past researches suggested that the intensity with which banks engage in the corporate planning process has a direct positive effect on bank's financial performance and mediates the effect of managerial and organizational factors on banks performance. Results also indicated a reciprocal relationship between corporate planning intensity and performance. That is, corporate planning intensity causes better performances and in turn, better performance causes greater corporate planning
intensity (Hopkins and Hopkin, 1997). There is a constant need for organizations especially financial institutions like banks to think strategically about what is going on (Schmenner, 1995).
This appears to be precisely what banks, in particular have begun to do in recent years. In response to increasing complexity and change in the financial services industry, banks have turned to corporate planning. The relatively new trend towards corporate planning in banks is viewed as a move designed not only to help them negotiate their environment more effectively, but to improve their financial performance as well (Bettinger, 1995). Inconsistent results of bank related research, however, have not fully resolved the issue of whether corporate planning leads to improvements in banks financial performance. The intensity with which managers engage in corporate planning depends on managerial (e.g. corporate planning
expertise and beliefs about planning - performance relationships), environmental (e.g. complexity and change) and organizational (e.g. size and structural complexity) factors. The effect of these factors on corporate planning intensity have been suggested by several studies (Robinson et al (1998). Studies that have analyzed the relationship between corporate planning and financial performance proved that the intensity with which banks engage in the corporate planning process intervene -that is cause an indirectness and lack of one-to-one correspondence between factors such as corporate planning expertise and beliefs about planning performance relationships (managerial factors), environmental complexity and change (environmental factors) bank size and structural complexity (organizational factors) and bank's financial performance. As suggested by the inconsistent research findings, past studies have misspecified the relationship between corporate planning and financial performance in banks. Misspecification of this relationship might be attributed to past studies, lack of attention to the relationship among these managerial, environmental, organizational factor and their potential impact on planning intensity and performance (Hopkins and Hopkins, 1997).
Subsequently the consideration of such factors in the present study is viewed as a significant issue that holds implications for future research as well as for planning practices.
CHAPTER THREE
RESEARCH METHODOLOGY
3.1 RESEARCH DESIGN
Research design or research methodology is researcher's plan of action about the study. The plan embodies strategies and techniques through which a research on a particular subject matter is conducted. It is the specification of procedures used in collecting and analyzing data necessary to help solve the problem at hand, (Donald 1980). A research is the application of scientific method to the study of a problem. It is a way to acquire dependable anduseful information. Its purpose is to discover answers to meaningful questions through the application of scientific approach. The descriptive research design was used. The method enables the researcher to obtain a clear understanding in the behaviour of his object of study due to certain changes in some aspects of the object's environment. This type of design is mostly convenient for the management science studies.
3.2POPULATION OF STUDY
The target population of this study are employees, management and visiting personnel of the bank (Access Bank Plc, Okpara Avenue Enugu). As at September 3, 2011, the total number of staff and visiting personnel in the bank was Eighty (80). Thus the eighty employees and visiting personnel constituted the population for the research.
3.3 SAMPLE AND SAMPLING TECHNIQUES
A portion of element taken from the large population is called sample. Sampling is taking or drawing of any portion or element from the large population or universe (Osuala, 1993:
104). Various sampling techniques were available to the researcher for use in the selection of sub-group that will represent a population. These techniques include simple random sampling, multi-stage sampling, cluster sampling and systematic sampling among others. Since the use any of the sampling techniques depends on the defined population and the representation of the sample in the population, the researcher used the random sampling technique. As a result of limitations of time and money needed to cover the whole population, some forms of sampling became necessary. In determining the sample size, the researcher quoting Mmadu (1997: 50) applied the Yaro Yamani's statistical formula for selecting from a finite population.
The formula is stated as
n = N
1 + N(e)
2
Where
N = The entire population
e = Co-efficient of confident or margin of error
n =Sample size
The researcher is of the view that 5% or 0.05 is an
appropriate margin of error for the study.
Given N = 80 and
e = 0.05
80
n = 1 + 80(0.05)
2
n = 80
1 + 0.2
41
= 80
1.2
= 67
67 = sample size
Thus, since n is 67, therefore, 67 employees constituted the sample size for the project.
3.4 SOURCES AND METHODS OF DATA COLLECTION
There are various sources of data collection for a research purpose. The widely known sources of data collection are primary and secondary sources though with certain degree of variability. The sources of data collection, are discussed further in the following headings.
1. Primary Data
Primary source of data refers to the statistical materials which the researcher originated for the purpose of the enquiry at hand. In other words, primary data consists of information and data collected personally by the researcher for identifying and solving of the problem at hand; the primary data for this study was collected personally through the following methods.
a)Administering of questionnaires which were structurally and carefully formulated to the staff, management and personnel. The researcher guided the respondents on how the questionnaires should be answered.
b)Through the use of oral interview; the researcher personally interviewed the staff, management and personnel of the bank.
c)Also, through what the researcher observed on her own during the field work.
2. Secondary Data
The secondary sources of data according to (Chinall, 1973: 26); "are the existing information which may be of relevance to the specific survey at hand".
The secondary sources of data for this study include; relevant journals, internet websites, documented files, written projects, textbooks and other useful publications. These
data served as good sources of reliable information to the researcher.
3.5 DATA RELIABILITY AND VALIDITY
Reliability has been defined by Pilot and Hungler (1993) as the level of consistency with which an instrument measures the attribute it is intended to measure. The researcher constructed questionnaire to measure the impact of corporate planning on organizational performance. In order to ensure face and content validity of the instrument, it was presented to the supervisor and necessary modifications were made based on his advice. On the other hand, validity according to Nnamani (2008: 42) is the degree to which a test measures what it is supposed to measure. A test is said not to be valid per se; it must be valid for a particular purpose and for a particular group. The question should not be whether a test is valid or not. It should instead be whether at test is valid for what and for whom. In this content, the validation of the work was conducted through direct administration validation. This was done by the researcher to ensure that questionnaires cover the topic as well as topic related to it.
3.6 METHOD OF DATA ANALYSIS
Data analytical techniques are various techniques used in analyzing and interpreting the data collected for research purpose. Most of the techniques used today for data presentation and analysis are statistical. Some of these techniques in use are poison distribution, frequency distribution, simple linear regression, exponential, percentages, correlation and chi-square etc.
For the presentation and analysis of this research work, simple percentage would be used but for testing the hypothesis, as well chi-square was used. The formula for the
Liker Scale
•
fx
n
•
fx = Weighted sum of frequencies
n =Total response
The mean of point scale =
•
x
n
X =sum of norminal value
n =Number of response categories
the cutoff = mean x e
45
where e = error term = 0.05
Chi-square was used to test hypothesis formulated
X
=
•
(oi - ei)
2
2
ei
where
oi = observed frequency
ei = expected frequencies
the degree of freedom = (r - 1) (k - 1)
where
r = Numbr of roles
K = Number of columns
X
= Chi-square
2
Xe = 0.05
= Critical value of chi-square.
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS
4.1 DATA PRESENTATION
According to Kerlinger, (1973: 134), data analysis involves the categorizing, manipulating and summarizing of data to obtain answers to research questions. The purpose of this research analysis is to reduce data into intelligent and interpretable form so that the related questions of the research problem can be studied and tested. Moreover, the data collected from questionnaires administered will be tabulated and analyzed statistically for the presentation analysis, we would simply tabulate the responses and construct a frequency table for close ended questions. We would now present and analyze each question using simple percentage and construct frequency table.
4.1.1Frequency Distribution of the Respondents According
to Sex.
Table 4.1.1
Sex
Frequency
Percentage (%)
Male 29 43
Female 38 57
Total
67
100
Source: Field Survey, 2011.
From the table above, 43% of the respondents are male
while 57% are female. This shows that female out-numbered
male in payroll of Access Bank Plc, Okpara Avenue, Enugu.
4.1.2Frequency Distribution of Respondents According to
Age
Table 4.1.2
Responses
Frequency
Percentage (%)
26 - 35 years 35 52
36 - 45 years 22 33
46 and above 10 15
Total
67
100
Source: Field Survey, 2011.
In the above table, 52% of the respondents fall between
age bracket of 26 - 35 years, 33% fall between 36 - 45 years
and 15% are 46 years and above.
4.1.3 Frequency Distribution According to Qualification
Table 4.1.3
Responses
Frequency
Percentage (%)
O/A Level 12 18
OND 30 45
HND/B.Sc 15 22
Masters and above 10 15
Total
67
100
Source: Field Survey, 2011
The above table shows that 18% of the Access Bank staff have O/A Level and constituted the cleaners, securities and drivers. 45% are OND holders and Constituted the Cashiers
and Tellers. 22% are HND & B.Sc holder and these handle cheques payments, fund transfer, bureau de change and theICT and marketers. Finally 15% have masters degrees and above, this group constituted the head of operations, managers and other top executives.
4.1.4Frequency Distribution Showing How Long the Staff Have Been in the Organisation.
Table 4.1.4
Responses
Frequency
Percentage (%)
1 - 4 years 30 45
5 - 8 years 26 39
9 and above 11 16
Total
67
100
Source: Field Survey, 2011.
This table shows that 45% of the respondents have been in the organisation for 1 - 4 years, 39% have stayed for 5 - 8 years and 16% have stayed for 9 years and above.
4.1.5Frequency Distribution Showing to What Extent the Bank Engage in Corporate planning.
Table 4.1.5
Responses
Frequency
Percentage (%)
To a very great extent 43 64
To a great extent 14 21
To an extent 10 15
Undecided 0 0
Total
67
100
Source: Field Survey, 2011.
From the above table, 64% of the respondent agreed that the bank engage in corporate planning to a very great extent, 21% said they engage to a great extent, and 15% said to an
extent.
4.1.6Frequency Distribution Showing What is the Relationship Between Corporate Planning and Achieving the Objective of the Organisation.
Table 4.1.6
Responses
Frequency
Percentage (%)
Positively correlated 50 75
Negatively correlated 12 18
No relationship 5 7
Undecided 0 0
Total
67
100
Source: Field Survey, 2011
.
This table show that 75% of the respondents opined that corporate planning and achieving the objectives are positively correlated, that means that they have a direct linear relationship with each other. 18% agreed that they are negatively correlated and that there is no direct linear relationship between them, 7% opined that there is no relationship at all between the two variables.
4.1.7Frequency Distribution of How Does Corporate Planning Affect the Performance of the bank
Table 4.1.7
Responses
Frequency
Percentage (%)
Positively 50 75
Negatively 1 2
No effect 16 23
Undecided 0 0
Total
67
100
Source: Field Survey, 2011.
From the table it is seen that corporate planning have a direct positive effect on organisational performance. 75% of the respondents supported this, only 23% agreed that there is
no effect and 2% said it has negative effect.
4.1.8What are the Causes of Deviations from Planned Courses of Actions
Table 4.1.8
Responses
Frequency
Percentage (%)
Too broad and ambiguous plan 22 32
Lack of communication 21 31
Lack of monitoring and control 25 37
Total
67
100
Source: Field Survey, 2011
.
This table shows that making plans that are broad and ambiguous, lack of communication of plans and lack of monitoring and control of the plans, all are the reasons why there are some deviations from planned courses of action.
4.2 TEST OF RESEARCH HYPOTHESES
To ascertain the hypotheses, the chi-square (X) method 2 was used.
The formula for the calculation of chi-square is as follows:
X
=
•
(Oi - ei)
2
2
ei
where
oi = Observed frequency
ei =expected frequency
4.2.1 Hypothesis I
H
:
Corporate Planning has no impact on the performance of
o
the organization.
H
:
Corporate Planning has impact on the performance of the organization.
Computation of How Corporate Planning Affect the
Organisational Performance.
Table 4.2.1
Responses
Frequency
Percentage (%)
Positively 45 67
Negatively 6 9
No effect 16 24
Undecided 0 0
Total
67
100
Source: Field Survey, 2011.
Computation of Chi-Square
Responses oi ei 0i - ei (oi - ei)
(oi - ei)
2
2
ei
Positively 45 16.75 28.25 798 47.65
Negatively 6 16.75 (10.75) 116 6.879
No effect 16 16.75 (10.75) 0.56 0.03
Undecided 0 16.75 (16.75) 281 16.75
Total
67
71.32
Computation of the critical value
The degree of freedom
d.f = (R - 1) (C - 1)
where
R = no of row
C = no of column
In this case,
df = (R - 1)
= 4 - 1
= 3
The level of significance = 0.05 referring to the standard chi-square table, at 3 df = 7.815.
Decision Rule on the Hypothesis
To accept the null hypothesis, decision rule is that where the calculated value of chi-square is below the critical value of chi-square, the hypothesis is accepted, while it will be rejected
when it is above the table value at a given level of significance and degree of freedom. The null hypothesis is therefore rejected as the calculated value of chi-square 71.32 is above the critical value 7.815. It is therefore, concluded that corporate planning has a lot of impact on the organizational performance.
4.2.2 Hypothesis II
H
:Monitoring and controlling of organisational plans do not
o
reduce deviations from planned courses of action and does not boost organisational performance.
H
:Monitoring and controlling of organisational plans reduce deviations from planned courses of action and boost organisational performance.
Computation of how monitoring and control of organisational plans reduce deviations from planned courses of action.
Responses
Frequency
Percentage (%)
To a very great extent 19 28
To a great extent 42 63
To an extent 5 7
Undecided 1 2
Total
67
100
Source: Field Survey, 2011
Computation of Chi-Square
Responses oi ei 0i - ei (oi - ei)
2
(oi - ei)
2
ei
To a very great
19 16.75 2.25 5.06 0.30
extent
To a great extent 42 16.75 25.25 638 38.08
To an extent 5 16.75 (11.75) 138 8.24
Undecided 1 16.75 (15.75) 248 14.81
Total
67
61.16
Calculated chi-square = 61.16
Computation of the critical value of chi-square.
The level of significance = 0.05
The degree of freedom d.f = R - 1 = 4 - 1 = 3
Referring to the standard chi-square table at 3 d.f under
0.05 level of significance , the critical value = 7.815.
Decision
The null hypothesis is rejected as the calculated value of chi-square 61.16 is above the critical value 7.815. Therefore, it is concluded that monitoring and controlling
of organisational plans reduce deviations from planned courses of action and also boost organisational performance.
4.2.3 Hypothesis III
H
:Corporate planning does not contribute to the achievements
o
of the goals and objectives of the organisation.
H
:Corporate planning contributes to the achievements of the goals and objectives of the organisation. Computation of how corporate planning contributes to achievement of the organisational goals and objectives.
Responses
Frequency
Percentage (%)
Much 50 75
Little 10 15
Very Little 7 10
Total
67
100
Source: Field Survey, 2011
Computation of Chi-Square
Responses oi ei 0i - ei (oi - ei)
(oi - ei)
2
2
ei
Much 50 22.3 27.7 767 34.39
Little 10 22.3 (12.3) 151 6.77
Very Little 7 22.3 (15.3) 234 10.49
Total
67
51.65
Computation of the critical value of chi-square
The level of significance = 0.05
df = R - 1
= 3 - 1
= 2
Referring to the standard chi-square table at 2 df = 5.991. Therefore, corporate planning contribute heavily in achieving the organisational goals and objectives.
CHAPTER FIVE
FINDINGS, RECOMMENDATION AND CONCLUSION
5.1 FINDINGS
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.
5.2RECOMMENDATION
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, theorganisation 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 monitoringand 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.
5.3CONCLUSION
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.
BIBLIOGRAPHY
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Ackoff, Russel, (Russell (1990)) A Concept of Corporate
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Oale Carnegie and Association Inc.
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Harvard Business Review. Vol. 63, November - December, pp. 111 - 115.
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APPENDIX
Dear Respondents,
I am a student of the above mentioned institution, conducting a research work on the impact of corporate planning on organisational performance, using Intercontinental Bank Plc.,
Okpara Avenue as a Case Study. I hereby request for your assistance in finding the attached questionnaires. The questionnaire is designed to help in collecting necessary information needed for the research work. This study is purely an academic exercise carried out in partial fulfillment of the requirements for the award of Master Degree in Business Administration (MBA) and therefore has no implication on the respondents.
Thanks for your co-operation.
Yours faithfully,
QUESTIONNAIRE
1. Sex
a) Male [ ]
b) Female [ ]
2. Qualification
a) O/A Levels [ ]
b) OND [ ]
c) HND/B.Sc [ ]
d) M.Sc and above [ ]
3. How long have you been in the banking industry.
a) 26 - 35 years [ ]
b) 36 - 45 years [ ]
c) 46 and above [ ]
4.Do your organisation has objectives
a) Yes [ ]
b) No [ ]
5. Who sets the objectives
a) Departmental Managers [ ]
b) General Manager [ ]
c) Board of Directors [ ]
d) All of the above [ ]
6.How is your company objective
a)Quite clear and simplified [ ]
b) Too broad and ambiguous [ ]
7.How does the objective reflect to what you have in mind
about the company?
a) To a large extent [ ]
b) Minimal Level [ ]
c) On the average [ ]
8.How often do you realise your objectives within the specified
period
a) Most of the time [ ]
b) Some times [ ]
c) All the time [ ]
9.What is the relationship between your planning and achieving
your objectives?
a) Positively correlation [ ]
b) Negative correlation [ ]
c) No relationship at all [ ]
10.How does your planning affect your performances
a) To a very great extent [ ]
b) To a great extent [ ]
c) to an extent [ ]
11.What are the reasons for deviations from planned courses
of actions?
a) Too broad and ambiguous plan [ ]
b) Lack of communication [ ]
c) changes in government policies [ ]
12.What conditions are your future actions?
a) What others are doing [ ]
b) What the employees feel [ ]
c) Result from forecastion unit [ ]
d) None of the above [ ]
13. How do you react to environmental factors
a) Passive/Indifferent [ ]
b) Spontaneously [ ]
c) Proactively [ ]
d) Reactively [ ]
14. Which of this type of planned do you prefer?
a) Short-Term [ ]
b) Long Term [ ]
c) All of the above [ ]
15.Do you deviate from planned actions
a) Yes [ ]
b) No [ ]
16.How often have you deviated from planed actions
a) Rarely [ ]
b) On the average [ ]
c) Often/Regularly [ ]
17.What in your opinion causes this deviations?
a)Broad and Ambigous plan [ ]
b) Lack of communication [ ]
c) Changes in government policies [ ]
18.Do you think this deviations can be minimized?
a) Yes [ ]
b) No [ ]
19.How do you think that it could be minimize?
a) By monitoring the plans [ ]
b) By Controlling the Plans [ ]
c) Evaluating performance [ ]
20.How is the plan co-ordinated and controlled.
a)Through the general manager [ ]
b) Through reports from sectional heads [ ]
c)By setting a project manager [ ]
21.What happens when the plan could not achieve your
objectives?
a)Make a fresh plan [ ]
b)Re-evaluate the entire system [ ]
c) Set new objectives [ ]
22.Would you prefer to monitor and appraise a plans?
a) Yes [ ]
b) No [ ]
23.When do you prefer to monitor and appraise a plan
a) As you go along [ ]
b) At the end of the planning horizon
c) None of the above
24.How would you describe your organisational structure
a) Centralized [ ]
b) Decentralized [ ]
25.How would you describe your organisational plan?
a) Flexible [ ]
b) Loose [ ]
c) Rigid [ ]
26.Who carries out the plan?
a) Top management [ ]
b) Supervisors [ ]
c)Operatives [ ]
d) All of the above [ ]
27.Do you set new objectives
a) Yes [ ]
b) No [ ]
28.How often do you set new objectives.
a) Annually [ ]
b) Biannually [ ]
c) Whenever necessary [ ]