Strategic Planning as a Tool for Enhancing Corporate Performance

Abstract

This paper work aims at examining the strategic planning as a tool for enhancing corporate performance and analyses strategic planning tools and its implementation process. However, it has been noticed that organization are no longer seen to be focused and real. Evidence of actionable plans are no longer there in our organization as indication of appropriate strategic plan. A study was conducted into books of notable authors written on strategic planning and corporate performance and selected ideas are compiled in this paper report. Data used for analysis were collected through questionnaires and interview conducted. It was discovered that organization adopts strategic planning; it was also found that strategic planning is effective in organization policy. Finally, having discovered that strategic planning contributes to the profit of an organization and it equally has impact on the corporate performance in an organization. The paper recommends that as a result of effectiveness of strategic planning, organization should continue to adopt it and give more priority and also government should create enabling economic environment that will make strategic planning a fruitful weapon.