Effect of Strategic Planning on Organizational Performance: A Study of Selected Brewing Firms in Nigeria

Abstract

This study examines the effect of strategic planning on performance in Nigeria brewing firms. The purpose of the study is to determine whether there is effective strategic planning in Nigeria brewing firms and the extent it has contributed to their performances. The population of the study is 6561being the total staff strength of five brewing firms in Nigeria Stock Exchange while the sample size was extracted from the population using Taro Yameni method. This study used descriptive type of survey design as well as Ex-Post factor design. Structured questionnaire as well as oral interview was used to gather primary data while secondary data was extracted from annual reports. Regression model was used in testing the hypothesis that relates to secondary data while t-statistics was adopted for testing primary data. The result of the study revealed that organizational structure has significant positive effect on the  performance brewing firms; that technological changes has significant positive effect on the  performance of brewing firms; that leadership stability has significant positive effect on the performance of brewing firms; that Merger and Acquisition significantly affect  firm's performance positively; and that there is significant positive relationship between   staff welfare and   performance of brewing firms. In view of the above findings, the study concludes that effective strategic planning is the fulcrum on which performance of brewing firms revolves.  The study therefore recommends among others that Nigeria firms should give more serious attention to strategic planning, separate other types of planning from strategic planning   and endeavour to choose appropriate strategies that matches their strategic plans and as well implement the full tenets of strategic plan.