TABLE OF CONTENTS
CHAPTER ONE: INTRODUCTION
1.1 Background to the Study
1.2 General description of Area of Study
1.3 Statement of Problems
1.4 Purpose of the study
1.5 Research Question.
1.6 Statement of Hypothesis
1.7 Definition of Unfamiliar Terms and Concept
1.8 Scope of the Study
1.9 Significant of the Study
CHAPTER TWO: LITERATURE REVIEW
Background of Diamond Bank. PIc
of Cooperate Planning
to Formal Corporate Planning
Techniques for Planning
and Disadvantages of Corporate Planning
of Business Organization
Planning Responding to Today's Need
Need f6r Corporate Planning
2.20 The Impact for Comprehensive Planning on
2.21 The Process of Strategic Planning in Banking
2.22 Planning in Financial Institution: The Case
Problems in Strategic Planning
of Corporate Planning- in Nigeria
to Effective Implementation of Strategic Plan
.of Strategic Planning
CHAPTER THREE: RESEARCH METHODOLOGY
of Research Questions and Hypotheses
of the Population
DATA PRESENTATION, ANALYSIS & DISCUSSION
4. 1 Introduction
on Corporate Planning and Management Process
in Planning and implementation
and Objectives Stated and Achieve
of Corporate Planning on Organizational Structure
for Decision Making and Resources
Use of Information System CTF
of Organization Politics
to the Study
Corporate planning is the process of
selected objectives, purpose or goals and deciding generally and specifically
what should be done to attain these objectives. It is done at corporate level
which covers the entire organization with due attention' to various
departments, sections, division and branches that up the organization.
Corporate planning is also called strategic planning as a tool to aid
management in strategic decision-making. The purpose of strategic planning thus
to accomplish a sufficient process of innovation and change in the firm. It is
a process a corporation follows thinking through beforehand what is to be
accomplished and to large extent how to accomplish it. This greatly simplifies
the task of the manager and enables him to make most effective use of time,
manpower and equipment, facilities and money.
Corporate planning is a systematic
study, which is designed to help identify the strength and weakness of any
organization. It is also a determined effort to attain the desired target and
needed effort to attain the desired Target and examine the likely constraints
as well as device of a plan in which a set of objectives can be achieved.
Corporate planning is done on a long-term basis and it involves an integrated
approach to all aspects of the company's activities by treating the company as
a corporate entity where all the different branches, department and units,
which make up tile organization are collectively taken care of rather than a,
collection of separate outfits. Any activity that does not aid in the strategic
decision making of the firm is not corporate planning, even though it may seem
to involve many of the "right" elements of planning such as elaborate
five years plan often does not influence strategic decision making aids.
Effective corporate planning does not have to elaborated or complicated, but
must be logical and focused on the strategic decision that will be taken
A very important aspect of corporate
planning is the study of the environment in which the organization operates.
This kind of study will include the past, history, the present activities as
well as the projection into the future. The ultimate objective of the process
is to Match Company’s strength and 'weakness with environmental opportunities
and threats, this is in order to be able to complete favorably and efficiently
in the environment and consequently lead to accomplishment of organizations
objectives and goals. Corporate planning consists of two major components. They
are operational and strategic planning.
Operational planning deals with the
day to day activities of the business and done along the Functional area like
production planning, marketing planning, financial planning, manpower planning
Etc. It also consist of single use plans which are developed to achieve
specific purpose and dissolved when these have been accomplished for handling
recurrent and predictable situations. Strategic planning on the other hand is
the process of selecting an organization goal and also established the methods
necessary to ensure that the policies and programs are implemented. It is the
formal process of determining long run objectives and how to achieve them.
Corporate strategic planning in the
pattern of decision in a company that determines and reveals its objectives,
purpose or goals produces and the principal policies and plans for achieving
these goals and define the range 'of business the company is to pursue the kind
of economic and human organization, it is or it Intend to be and the nature of
economic and non-economic contributions. It intends to make to its
shareholders, employees, customer and communities. It is the type of plan that
embodies time span and strategic formulation. It is a long term planning that
has a time horizon of at least three years. It is also a clever device with the
potential of evolving in the long run creation of additional resources that
will facilitate and hasten the attainment of long-term objectives and enable
the organization to gain some relative advantages of current position and
Corporate strategic planning consists
of nine steps as follows, Steiner, (1979):
formulation and selection of missions and objectives.
of current objectives and strategies.
appraisal or resource analysis.
of strategic opportunities and threat.
of the extent to which .the strategic change is required.
measurement and control process,
Therefore, it can be seen from the
above that strategic planning is the formalized long-range planning process
used to define and achieve organization goals. It actually provides consistent
guidelines for the organization activities and helps the managers to recognize
risky and safe opportunities and choose between them. It also minimizes the
chance of mistakes an unpleasant surprises as goals objectives and strategies
are subject to careful scrutiny and less likely to be faulty and unworkable.
Thus in any planning process there should be strategic planning that deals with
long term and basic nature of business and provides overall framework for the
business. It addresses the organization aims and defines the strategies and
polices to achieve them and also develops the detailed plans to ensure that the
strategies are implemented in order to achieve the end result. Strategic
planning provides the structure and operational planning translates all into
current and day to day activities and takes off from there. They both
complement each other and from the corporate planning process of the
organization. By this, it would be observed that corporate planning is
essential and fundamental to the discharge of management functions and crucial
to the achievement of its goals and objectives. It is often argued that management
without planning is incomplete and purposeless.
This is because it is through
planning that management can recognize and also appreciate its potentials, scan
its environment and judiciously employ resources.
Management function which include
planning, organization, coordinating, leading and directing, controlling,
staffing, motivating and budgeting are inter related regardless of the manager
skills. It is therefore particular revealing to note that these activities are
'step in corporate planning. This is because before managers can organize,
lead, coordinate and motivate. They must make the plans that give purposes and
directions to the organization, deciding what needs to be done and how it
should be done and who is to do it. Therefore, manager must engage in corporate
planning which defines fundamental goals and objectives in specific terms,
determine the means to achieve them, provide a basic long range framework into
which other forms of planning can fit, and all these action based on some
method, plan or logic, rather than on bunch in order to strongly influence, the
survival and growth of an organization in the contemporary, frequently volatile
environment. This undoubtedly enables it to carry out the management functions
of organizing, staffing, directing, coordinating, controlling, effectively and
General Description of Area of Study
The Nigeria business is so volatile
to the extent that only those who can scan it successfully forecast the
possible change in it and thereafter all available resources in accordance with
the dictates and demands of the environment can operate successfully in it. The
study examined corporate plan and implementation in the organization. It
highlighted how consultations, deliberation and condition for effective
planning were properly taken care. The study also showed the dependence of
management function like organizing, staffing, coordinating, reporting, leading
and budgeting on effective corporate planning. The dynamic of planning in
Diamond Bank was appraised. The evaluation, Implementation, success and
benefits of corporate panning in the bank was discussed. The findings showed
that corporate planning process implementation in Diamond Bank is quite
impressive. The workers embrace it contributes fully to its success and show
loyalty and commitment to plan. Management in tum encouraging them through
motivation and effective communication.
Statement of Problems
Corporate planning a formal,
systematic managerial process, organized by responsibility, time and
information to ensure that operational planning, project planning and strategic
planning are carried out by management to direct and control the future of the
enterprise. The planning process also involve decision making. This is the
process of developing into, and selecting a course of action to solve a
specific problem. This is made at any point of the planning. There is also a
close relationship between planning and controlling, control cannot take place
unless a plan exists. Therefore control compares actual information about what
is really happening during a plan's implementation with the budget.
In organizing and staffing corporate
planning determines how human and material resources are coordinated, the
number of people to be engage, the typed of equipment to be used, and the
quality and quantity of other resources that would be needed in order to attain
organizational goals. So having said this, one appreciates the rational for
corporate planning and expects a lot of organization to embark on it with
utmost seriousness. The sad thing is that the situation in Nigerian
organization only gives the large organizations and multinational companies to
embark on corporate planning the small and medium sized companies mostly do not
This introduced cutthroat competition
and most of the organization faced uninterrupted decline in their sale and
level of profit [Bello and Iyanda, 1981]. These changes were mostly as a result
of the political, social-cultural, economic historical and technological
setting of the country. Many changes were created in the environment of the
organizations because many governments try to manage the activities of given'
economies through the introduction of the various fiscal and monetary policies.
This led to a situation where
organizations that were unable to participate and plan for these changes
eventually collapsed. Therefore these organizations started realizing the in
dispensation of a corporate plan, which will effectively take care of these
changes. Most importantly the political Instability in the country which had
led to and is still leading to frequent changes of regime from time to time make
meaningful planning difficult task due to unpredictability of the environments.
Closely associated with these are:
of management commitment to plan.
changes in the environment.
about government long term policies and legislation.
dependence on the budget, companies wait and are practically on stand still
till the budget is read.
roller coaster nature of the economy and excessive government interference in
the private sector.
of cohesiveness in general policy and inconsistency policy implementation by
government. (Olukunle Iyanda, 1988). All these have made planning in Nigeria a
very difficult task.
The purpose of the study is to assess
the effectiveness of the corporate planning as the management process and also
to evaluate its contribution as a catalyst to the survival, growth and
profitability of the organization. The motive is basically to assess the
following components of the corporate planning which are:
1. Strategic planning, process and
2. Operational planning and its
sub-components like, singles use plan and standing plans.
The study is to examine corporate
plan formulation and implementation in the organization.
It will highlight how the
consultations deliberations and condition for effective planning are properly
taken care of it and will also show how the dependence of the management
functions like organization, staffing, coordinating, reporting, leading and
budgeting on effectiveness of the discharge of these functions depend on the
corporate planning. Thus the pitfalls in Nigerian business environment will be
highlighted and how the situation can be improved.
The dynamic of planning in the chosen
organization will be 'appraised. The evolution implementation, success and
benefits of corporate planning in the company shall be discussed. This will
help to motivate and encourage other companies who are yet to embrace the
practice and convince them that successful discharge of management function in
order to accomplish that set of goals, objectives and purpose depend on
adoption and implementation of a corporate plan.
1.5 Research Questions
1. Does corporate planning lead to
attainment of organizational goals and. objectives?
2. Does it provide framework for
decision making and resources allocation?
3. How can corporate plan affect
4. How can corporate plan affect
5. To what extent are workers involved
and motivated in the process?
6. To what extent do information
systems, organizational politics and Forecasting techniques influence corporate
7. Does corporate planning make use of
technical qualitative method techniques?
8. How can corporate planning and
budgeting be effectively integrated?
9. Are there significant effects of
corporate planning on management process?