The Efficacy of Business Planning on Organisational Performance in the Nigeria SMEs
Journal Title: International Journal Of Management And Economics Invention - Year 2016, Vol 2, Issue 11
Abstract
The importance of planning in Nigerian volatile business environment cannot be over-emphasized. Planning is an essential element in management functions used for coping with the challenges of the contemporary business environment. Inadequacy of planning skills among Small and Medium Enterprises (SMEs) managers results in poor performance, hence little or no business expansion. This study investigated the relationship between planning and organisational performance in the Nigerian SMEs. A cross sectional survey design of four hundred and forty-one (441) SMEs in Lagos was undertaken by means of self-administered questionnaires. While the data generated were presented by descriptive statistics, Pearson Product Moment Correlation was used for inferential analyses. The results of the analyses show active involvement of Nigerian SMEs in various categories of planning. However, the test of hypothesis revealed an insignificant relationship. The study concludes that there is a need for effective planning in Nigerian SMEs for better performance and growth. In addition, participative management that emphasized on the importance of ideas, initiatives, suggestions, feelings and opinion from organisational members were recommended.
Authors and Affiliations
Hakeem Adeniyi Ajonbadi
Keywords
Related Articles
- EP ID EP211578
- DOI -
- Views 148
- Downloads 0
Migration In A Stochastic Environment:An Extension Of The Harris And Todaro Model Based On The Optimal Stopping Theory
The present paper constructs an extended HarrisTodaro model that incorporates environmental stock, by making use of the optimal stopping theory, to examine the properties of migration in an economy where environment fluc...
Foreign Direct Investment & Multi – Brand Retail Trading An Economic Situation At Present In India
Foreign direct investment (FDI) is a basic inflow of outsource funds to India for investing profitability venture or project. The government changes the policy on time to time relating to FDI in India as a part of econom...
A New Form of Reporting For Companies. The Integrated Reporting.
The importance of developing this research is due to the fact of integrating reporting as a new practice, and concept and a new form of communicating information through accountability. Companies which adopt this form of...
The Relationship Between Public Investment To GDP Ratio And External Debt Stocks In Kenya
Debt is a two-edged sword. External borrowing for productive investment is associated with macroeconomics stability, increased domestic savings, improved welfare and enhanced debt repayment ability; while over accumulati...
Importance Of Using Renewable Sources Of Energy For Maintaining Ecological Sustainability In Case Of In Extreme Climate Vulnerable Zones : A Case Study Of Sagar Island Of Sundarban
The power sector in West Bengal has achieved significant improvement over the years in the areas of electricity generation, transmission and distribution. Two percent (2%) of the total power requirement of the State is m...