TABLE OF CONTENTS
Title page
Certification
Dedication
Acknowledgement
Abstract
Table of
contents
CHAPTER ONE
1.1
Introduction and general background
1.2
Statement of research problem
1.3
Objectives of the study
1.4
Research questions
1.5
Research hypothesis/statement of hypothesis
1.6
Scope of study
1.7
Significance of the study
1.8
Definition of terms
CHAPTER TWO
2.1
Historical background of united bank for Africa plc
2.2
Historical background of strategic planning.
2.3
Definition and concept strategic planning.
2.4
Importance of strategic planning to banks
2.5
Benefit of strategic planning
2.6
Strategic options to banking business
2.7
Relevancy models and theories
2.7.1
Key elements of the model
2.7.2
Strategic approach model
2.7.3 Steps involved in strategic approach
2.8
Overview of the planning process
2.8.1
Environmental scanning
2.8.2
Situation audit or situation
appraisal
2.8.3 Mission, objectives and goals
2.9
Barriers to successful implementation of strategic
planning.
References
CHAPTER THREE
3.1
Introduction
3.2
Restatement of research questions
3.3
Restatement of research hypothesis
3.4
Research method and design
3.5
Data collection sources
3.6
Characteristics of the study population
3.7
Sampling design, procedure and size
3.8
Description of data collection instrument
3.9
Administration of data collection
3.10
Method of data analysis
CHAPTER FOUR
4.1
Introduction
4.2
Respondent characteristics and Data according to
research question
4.3
presentation and analysis of data according to
research question
4.4
Testing of hypothesis
CHAPTER FIVE
Summary, conclusion sand recommendation
5.1
Summary
of findings
5.2
Conclusion
5.3
Recommendations
Bibliography
Appendix
CHAPTER ONE
1.1 INTRODUCTION AND BACKGROUND OF THE STUDY
Competition existed long before
strategy. Competition began with life itself. The first one called organism
required certain resources for maintenance of life when those resources are
adequate, then each generation becomes greater in number than the proceeding
one. The richer the environment, the more severe the competition is and the
greater the number of competition. Likewise, the richer the environment, the
smaller the difference between competitions.
The Banking Industry has undergone a
number of changes. In recent years for a bank to undergo the following changes
of fundamental restricting (economy), accompanying growth in size and
complexity of business depends on the way the banking executives can
effectively manage the bank. To cope with these changes, modern management
techniques are used in contemporary banking institutions.
Strategic management as a management
system and tool has been in many parts of the advanced economy for about three
decades.
Strategic management is simple,
practical and in most parts exciting to handle. It remains simple to the extent
that one keeps away unnecessary complications introduced to it by some zealous
management scientist. It is practical because you are dealing in part with many
facts and styles of life of your own bank, and it becomes exciting as you see
yourself contributing in practical terms, your quota in deciding the long term
destiny of the bank and indirectly your personal future through the planning
process.
Krammer (1989) define strategic
planning as the formal process of determining long run objectives and how to
achieve them.
Cole, G.A (1997) defined strategic
management as a process directed by top management, to determine the
fundamental aims or goals of the organization, and to ensure a range of
decisions which will allow for the achievement of those aims or goals in the
long term, whilst providing for adaptive responses in the shorter term. A
useful starting point in understanding planning model is to adopt the “company
wide” planning model developed by Stainer (1963:33). The model divides planning
of corporation into three distinct types: strategy planning and plan (long
range), medium range and short range planning and plans. Also, in strategic
planning, there are factors that have to be considered before the strategic
planning process can be efficiently utilized and these are the strength,
weakness opportunities and threats (SWOT). The strength and weakness are from
the internal environment while the opportunities and threats are from the
external environment and in tackling these problems we make use of swot
analysis.
Hence, this study will focus on the
strategic planning of the Banking Industry, which presupposes that it is not
sufficient to engage in planning but to embark on planning strategically.
That is, strategic planning is
different from other planning in that it embodies two essential components:
time span and strategic formulation. Strategic planning on a long term planning
has a time horizon of at least three years, while the strategic formulation
refers to a clearer device with the potential of evolving in the long-run
creation of additional resources that will facilitate and hasten the attainment
of long run objectives and enable the organization gain some relative advantages
over current positioning and competitions.
1.2
STATEMENT OF RESEARCH PROBLEM
A lot of problems are faced by the
Banks management which leads to the failure of their business. Lack of capital,
competitors, poor management, wrong choice of handling business, education and
experiences, technological changes are also considered to be responsible for
Bank’s failure, attainment of growth and survival and also in their day to day
activities.
A Banking business may fail
financially or economically. Financial failure of banks may result in
technological obsolesce, bankruptcy, fraud. While economic failure may be as a
result of the banks’ total revenue not covering the total cost.
1.3 OBJECTIVES OF THE
STUDY
This study is aimed at determining
the impact of strategic planning on Banks’ performance. It will also seek to
achieve the following objectives:
a To
identify and determine organizations performance
b To provide an overview of the concept of strategic planning
c To identify the problems faced by the Banking Industry
d To analyze the strategic planning process and model
e To make necessary recommendations, reducing or eliminating
the problems.
f To analyze the barriers to the successful implementation of
strategic planning.
g To show the impact that strategic planning has on the day to
day activities of the banking industry.
1.4
RESEARCH
QUESTIONS
a Does Strategic Planning affect organizational performance?
b Does Strategic Planning aid decision making in banks’
organization?
c Does Strategic Planning aid in the achievement of banks’
objective?
d Does Strategic Planning enhance banking growth?
e Do modern banks’ undertake Strategic Planning?
f Is there any relationship between Strategic Planning and
bank’ policy?
1.5 RESEARCH HYPOTHESIS/STATEMENT OF
HYPOTHESIS
This study intends to test the
following assumptions:
NULL HYPOTHESIS (HO)
ALTERNATIVE HYPOTHESIS (H1)
HO: There is no relationship between banks’
performance and strategic planning.
H1: There is relationship between banks’
performance and strategic planning.
HO: Strategic planning does not enhance banks’
profitability
H1: Strategic planning enhance banks’
profitability
HO: Strategic planning does not enhance banks’
performance and growth
H1: Strategic planning enhance banks’
performance and growth
HO: Strategic planning does not ensure an
effective and efficient utilization of banks’ resources.
H1: Strategic planning ensure an effective and
efficient utilization of banks’ resources.
1.6 SCOPE
OF STUDY
This study will cover the impact of
strategic planning on banks’ performance in Nigeria using United Bank for
Africa Plc as a case study. The branch to be covered is UBA house, 57, Marina,
Lagos and time frame to be used in carrying out this research project is three
months.
This study will highlight among
things how to determine and identify banks’ performance, the concept of
strategic planning; the analysis of strategic planning model shall also be stated.
The limiting factors to this study
may include the following:
a The problem of some respondents not returning completed
questionnaires.
b Important data which may be vital to the study might not be
easily accessible due to top management reluctance to release some of them.
c Time and Financial constraint.
1.7
SIGNIFICANCE OF
THE STUDY
This study will be of benefit to
individuals, group of partners, etc who may want to set up a bank in the future
and it will also be of benefit to practicing managers and staff who may want to
improve the management performance of their banks’ effectively and efficiently
through the formulation and implementation of strategic planning in meeting
their customers’ demands.
1.8
DEFINITION OF TERMS
In order to avoid ambiguity, some
terms which are going to be used in this study are as follows:
a STRATEGY: This is a broad programme for achieving a
banks’ objective and the implementation of its mission statement. It can also
be defined as a term intended to achieve a particular purpose or the process of
carrying out a plan in a skillful way.
b PLANNING: This is the mental process of setting
objectives and determining the means of achieving the objectives. It can also
be defined as the act or process of making plans as a means of achieving the
set objectives of the bank.
c EFFECTIVENESS: This means doing things the right way
to produce good result or a way of producing the result that is wanted or
intended.
d BANK: This can be defined as an organization that
provides various financial services. Odufuye, B.M. (2004). defined a bank as a
company which is duely incorporated and has a valid banking liencence that goes
by the name “bank” and performs the following banking activities:
- Accepting of deposits
- Honoring of customers cheques which is duely drawn
- Opens and operates a current and deposit account for the
customers
- Operates foreign exchange services and gives financial and
managerial advice to the customer.
e BANKING BUSINESS: Section 61 of the Banks’ and Other
Financial Institution Act (BOFIA) 1991 provides a banking business to mean the
business of receiving deposits on current account, saving account, or other
similar account, paying or collecting cheques, drawn by or paid in by
customers, provision of finance, such other business as the Governor may by
order published in the Gazette, designate as banking business.
f MANAGEMENT: The process of utilization in attaining
the pre-determined objectives of the organization. It can also be defined as
the act or process of running and controlling a business or an organization in
order to achieve its set objective. It can also be defined as the people who
run and control a business.
g STRATEGIC PLANNING: This is a planning carried out by
an organizations top management, but not without the involvement of other
levels of managers which enable management to make decisions that affect the
long term future of the organization in an environment of risk and uncertainty.
h BANKRUPTCY INSOLVENCY: This is a situation where a
firms total assets cannot meet its total liabilities or where a firms total
liability exceeds its total assets.
Bankruptcy can also be defined as a proceeding by which the
state takes possession of property of a debtor through officers appointed for
that purpose and such property is realized, subject to certain priorities,
distributed rateably among persons to whom the debtor owes money or incurred
pecuniary liabilities.
i ENVIRONMENT: This is the ability of those influences
that bear upon the operations of the individual or the bank. It can also be
called an organizations surrounding. It is also described as everything,
everyone, everywhere outside the organization. It includes the competitors,
suppliers, customers, government, social institutions.
j FLEXIBILITY: This is an act of adapting to changes or
changing conditions in the banking environment or an act or process of being
able to change to suit new conditions or situations.
k INDUSTRY: This means a group of firm competiting
against one another, but in a monopolized or nationalized industry, the firm
and the industry are the same. It can also be defined as the people and
activities involved in providing a particular service.
l INNOVATION: This is defined as the introduction of
new things, ideas or ways of doing things that has been discovered to help
improve the banking sector. It can also be defined as recognizing the fact that
continued existence of a company or bank depends on its ability to do and
invent new things of value.
m PERFORMANCE: This is the term used to represent
positive economic contribution and social well being incurring less cost.
n OPPORTUNITY: These are business activities that can be
profitably exploited by the banking industry. It can also be defined as a time
when a particular situation makes it possible for a bank to achieve certain
goals and objectives or a period of time when circumstances are right for a
bank to achieve its set aims, goals and objectives.
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