Strategic Management and Corporate Planning, Tools to Achieving Organizational Products Continuous Efficiency: The Case of Multi- National Company’s Products in Nigeria

Abstract

The desk review of literatures in strategic management and corporate planning as tools in organizations strategic operational framework shows excellent prospects in management of corporate establishments. World-wide, products like Coca-Cola soft-drink and Maggi cubes for cooking, have been household consumer goods. Their availability at all times is attributed to Strategic Management and Corporate Planning techniques adopted in creating the brands. It is being observed that these products had foreign origins with good leadership lifestyle. In Nigeria for instant, they were incorporated over 50years ago as Multi-National Companies (MNCs). This study reveals that the applications of strategic management and corporate planning are indispensable management tools that gave leverage to prosper growth and maintain high market shares. The study key findings show that availability of aforementioned products’ success story factors come from the combination of strategic corporate planning of people, process, marketing and leadership style. The study made some policy recommendations that: There is strong need for manufacturing organizations operating in a dynamic environment wrapped with economic uncertainty to embark on realistic and systematic implementation of strategic management and corporate planning principles to overcome challenges. For business development, market leadership and desires for perpetual effectiveness, there is strong need of good strategic management and corporate planning as tools to enhance business prospects. The application of strategic management and corporate planning is desirable for organizations to continue being in operations no-matter the economic business trends.