THE INFLUENCE OF STRATEGIC PLANNING ON BUSINESS OUTCOMES
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- NGN 3000
This research examines the influence of strategic planning on business outcomes. Objectives are: (1) to assess the impact of strategic planning on organizational performance, (2) to analyze the relationship between strategic planning and business sustainability, and (3) to identify best practices for effective strategic planning. A survey design is chosen to collect data from a large number of respondents. Using Taro Yamane's formula, the sample size is 340, ensuring comprehensive data collection. The study focuses on the banking sector in Lagos, Nigeria, where strategic planning is critical. The reliability coefficient score is 0.87, indicating high consistency. Findings show that effective strategic planning significantly enhances business outcomes by providing clear direction, aligning resources, and ensuring sustainability. Recommendations include implementing structured strategic planning processes and regularly reviewing and updating plans to adapt to changing business environments.
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