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Empirical Study on the Application of Corporate Planning on Selected Money Deposit Banks’ Performance in Enugu State Nigeria

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Empirical Study on the Application of Corporate Planning on Selected Money Deposit Banks’ Performance in Enugu State Nigeria

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  • October 6, 2022
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ABSTRACT

This study focuses on the effect of Corporate Planning on the performance of selected Money Deposit Banks in Enugu State, Nigeria. The study sought to ascertain the effect of strategic thinking on the productivity of employees in Nigerian money deposit banks, determine the nature of the relationship between long-term planning and organizational effectiveness and ascertain the extent to which organizational vision influences customer satisfaction. The study had a population of 340, from which a sample size of 184 was determined using Taro Yamane’s formula at a 5% level of significance. Instruments used for data collection were questionnaires and interviews. 150 (82%) copies of the questionnaire were returned, while 34 (18%) were not returned. The survey research design was adopted which is anchored on descriptive statistics. Pearson product-moment correlation coefficient and simple linear regression statistical tools were used to test the hypotheses. The findings indicate that organizational vision significantly affects customer satisfaction (r = 0.904; t = 33.201; p < 0.05). There is a significant relationship between long-term planning and organizational effectiveness (r = 0.779, p < 0.05). Strategic thinking has significant effect on productivity of employees in Nigeria money deposit banks (r = 0.703; t = 29.000; p < 0.05). The study concluded that strategic plans articulate the organization’s mission and describe tangible activities that support goal accomplishment. The study recommends that all money deposit banks should tailor their vision towards getting new customers and retaining the old ones in order to boost their market share, through customer satisfaction and employees’ commitments

Keywords: Corporate Planning; Performance; Strategic Thinking; Money Deposit Banks; Nigeria

Authorship: Anichebe, N. A., PhD, Prof. Igwe, N. N. & Odike, M. PhD | FULL PDF

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