ABSTRACT
The research is on corporate planning; problems and benefits, A case study of Dangote of Company Lagos. The main objective of the research is to determine the problems managers encounter in corporate planning, and thus suggest possible solutions. The researcher analyzed the data collected based on the responses from questionnaire. Chi-square was used to test to hypotheses formulated. The major findings of the research shows that lack of reliable and adequate information, poor structural policy framework and lack of adequate managerial skills and technical in corporate planning. Based on the above findings, the study concludes that corporate planning covers every aspects of the organization as it sets long term goals for the organization. It is vital for the growth of the organization. On the basis of the above finding, the study recommend that there is the need for managers to always reassess the set goals in the light of the performance of the corporate plan over-time ascertain if their target is been achieved, and thus set their goals in the light of the prevailing circumstances, which is the essence of emergent approach in corporate planning.
ABSTRACT
The research is on corporate planning; problems and benefits, A case study of Dangote of Company Lagos. The main objective of the research is to determine the problems managers encounter in corporate planning, and thus suggest possible solutions. The researcher analyzed the data collected based on the responses from questionnaire. Chi-square was used to test to hypotheses formulated. The major findings of the research shows that lack of reliable and adequate information, poor structural policy framework and lack of adequate managerial skills and technical in corporate planning. Based on the above findings, the study concludes that corporate planning covers every aspects of the organization as it sets long term goals for the organization. It is vital for the growth of the organization. On the basis of the above finding, the study recommend that there is the need for managers to always reassess the set goals in the light of the performance of the corporate plan over-time ascertain if their target is been achieved, and thus set their goals in the light of the prevailing circumstances, which is the essence of emergent approach in corporate planning.
CHAPTER ONE INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The development of corporate planning is a post world war II phenomenon. Before the period of the world war II, almost all business enterprises were carrying on their business affairs without stating any formal objectives or formal long range business plans. Usually business planning was confined to the lower organizational levels, mainly the functional or the departmental levels and they had only short-term plans which focused mainly on manufacturing product planning, materials ordering and receiving and hiring of labour. Most companies used to have annual budgets or yearly financial plans to ensure their liquidity Imaga (2000:1).
Since that period of world war II, higher level that is at the care body of the company level long-range, usually of 3 to 7 years period planning has assumed ever increasing importance.
The development of business planning been a revolutionary movement or as technological revolution or even the revolution in life-styles due to income
demonstration effects from time to time. According to Hberts, (1950), comprehensive business planning now
covers long-range in the form of strategic planning involving the entire fabric of the organization and is the concern of the top- most management from where it descends to all. The scope of corporate planning covers not only the whole organization but every functional aspects of the organization. It takes into account the full environments in which the business operates and is a systematic assessment of a most comprehensive nature, leading to the realistic mapping out of long term objectives, strategies and operational plans Akpala (1990).
In corporate planning, top management is concerned with the future direction of the business as a whole, such decisions taken are long-term in nature and are bound to have far reaching implications on employment, the financing of the business and the types of products manufactured.
Thus, corporate planning involves major strategic decisions. It is against this background that this study is set to examine corporate planning with a view to determining its
benefits and identifying its problems in Dangote Group of
Company Nigeria Limited.
1.2 STATEMENT OF PROBLEM
Corporate planning often fails to achieve it’s objectives in many organization due to some militating factors. The problem of poor planning which are usually defective due to lack of skills and expertise reliable and accurate information on the sides of the managers, which will often leads to poor forecast and formulation of vague goals and objective. Also poor policies and implementation strategies is yet another problem which in most cases leads to deviation of results from the sets goals, and poor feedback.
Finally, the very dynamic nature of the business environment which makes forecasting practically impossible, sometimes jeopardizes the organizational policy. Lack of effective monitor of plan implementation and review of results usually undermine even the most articulated corporate plan.
1.3 OBJECTIVES OF THE STUDY
The objectives of the study include the following:
1.To determine the problem manager encounter in corporate planning and suggest solution.
2.To determine the strategic planning approach used by organizations and assesses its appropriateness.
3.To evaluate forecasting methods used by corporate organizations.
4.To determine the corporate planning approach use by organization.
1.4 RESEARCH QUESTIONS
The following researcher questions were asked to elicit useful information to be able to deal with the subject matter.
1.What are the problem managers’ encounters in corporate planning?
2.What are the strategic planning approaches used by organizations and how appropriate are they?
3.What are the forecasting methods used by corporate organizations?
1.5 RESEARCH HYPOTHESES
Ho :The problems managers encounters in corporate planning does not include lack of adequate and reliable information, poor structural policy framework, lack of adequate managerial skill and technical know-how.
Hi :The problems managers’ encounter in corporate planning
does include lack of adequate and
reliable information, poor structural policy framework, lack of adequate managerial skills and technical know-how.
Ho :The strategic planning approach used by organization foes
not include analyzing the current status, examining the prospects of the future, setting future course of strategy, putting a strategy to work and evaluating and controlling strategy.
Hi :The strategic planning approach used by organizations
includes analyzing the current status, examining the prospects of the future, setting the future course of strategy, putting a
strategy to work, evaluating and controlling the strategy.
Ho :Historical trend analysis, quantitative methods brain storming, etc are not forecasting methods used by corporate organizations.
Hi :Historical trend analysis, quantitative methods,
brainstorming, etc are forecasting method used by corporate organizations.
Ho :The corporate planning approach used by organizations
does not include prescriptive and emergent approach.
Hi :The corporate planning approaches used by organizations
include prescriptive and emergent approach.
1.6 SCOPE AND LIMITATION OF THE STUDY
The study is on corporate planning: problems benefits. A study of Dangote Group of Company. The major constraints of this study include;
1.Time Constraints
Due to limited time given for the study, the researcher could not visits places where relevant information necessary for the study cod be obtained.
2.Financial Constraints
The researcher has not enough money to embark on an indepth study of this magnitude. Because of financial constrain the researcher could not visit places where necessary information needed for the study could be obtained.
3.Attitude of the Respondents
Some of the respondents were not interested in the questionnaire given to them because they feel they have nothing to benefit from the study.
1.7 SIGNIFICANCE OF THE STUDY
This research derives its significance from its usefulness to management of small and by organization, governments and students.
This work will be of great importance to the following group of people.
1.The potential and prospective managers might find this work useful as a guide to better business initiative and management towards ensuring proficiency, efficiency and effectiveness.
2.The policy making arms of the government could also appreciate this work and thus make good policies in favour of corporate planning development in Nigeria considering the role it plays in Nigeria economic development
3.Other researcher could as well find this work very useful for further research work as a reference material.
1.8 BRIEF HISTORY OF DANGOTE GROUP OF COMPANY
Dangote group of company was founded in 1977 with the formation of Alco international limited. Subsequently Dangote Nigeria Limited was incorporated during the 1980s
and 1990s, the group ventured into the importation of sugar, milk, flour, fish, rice, cement and iron rods, later, the group embarked on the haulage business, which started 60 struck under Dangote transport.
Dangote industries limited was incorporated in order to sustain the group market leadership in trading commodities and to expand into manufacturing of food, clothing and build materials.
Focus was placed on the following; sugar refining, flour milling, pasta production, salt processing, bulk cement bagging, oil and gas exportation, real estate, propylene bag manufacturing, haulage, textiles, maritime operations and telecommunications. The Dangote group includes the following subsidiaries:
1.Alco international limited
2.Dangote flour mills Plc
3.Dangote cement Plc
4.Dangote transport limited
5.Dangote sugar Plc
6.Dangote oil and gas industries international
7.Dangote textiles limited
8.Blue star limited
9.Dangote Holding limited
10.Dansa food limited
1.9 DEFINITION OF TERMS
1.Corporate Planning
This is decision support systems that holds and derives knowledge relevant to planning decisions that cut across organizational units involve the entire fabric of the organization and is the concern of the top most management from where it descends to all Karl (1998:14).
2.Management
This is defined as the process by which organizations resources of men, materials and money are combined in such a way that goals and objectives of the organization are realized in a effective and efficient manner, Akpala (1990:44).
3.Corporation
This is a mechanism by which different parties contribute capital, expertise, and labour to achieve mutual benefit.
4.Corporate Culture
This is the totality of the shared beliefs values, norms and expectations by organizations members
which are transmitted from generation to generation.
5.Planning
This is the act of determining in advance possible future work of actions.
6.Strategic Management This is the process by which top management determine the long run performance of the organization by ensuring careful formulation, proper implementation and continuous evaluation of the strategy.
This material content is developed to serve as a GUIDE for students to conduct academic research
CORPORATE PLANNING PROBLEMS AND BENEFITS (A CASE STUDY OF DANGOTE GROUP OF COMPANY>
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