The Relationship Between Strategic Planning and Business Sustainability: A Case Study of Agro-Businesses in Plateau State
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- NGN 5000
Background of the Study
Strategic planning plays a vital role in achieving business sustainability, particularly in the agro-business sector, where long-term success depends on effective resource management and adaptability to environmental and market changes (Gonzalez & Smith, 2023). In Plateau State, agro-businesses contribute significantly to the economy by providing food, employment, and raw materials for industries.
However, many agro-businesses in the region face sustainability challenges, including climate change, market volatility, and inadequate planning. Strategic planning offers a framework for addressing these issues by aligning business goals with environmental, social, and economic priorities (Eze & Omotayo, 2024). This study investigates the relationship between strategic planning and business sustainability among agro-businesses in Plateau State, providing insights into best practices for long-term success.
Statement of the Problem
Agro-businesses in Plateau State face numerous sustainability challenges, such as unpredictable weather patterns, limited access to credit, and inefficient resource use. Despite the potential of strategic planning to mitigate these challenges, many businesses lack the capacity or knowledge to implement effective plans (Abubakar & Bello, 2023).
Existing studies have explored strategic planning in various industries but have not adequately addressed its impact on business sustainability in the agro-business sector of Plateau State. This gap hinders the development of tailored strategies to enhance sustainability in the region.
Objectives of the Study
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To examine the strategic planning practices adopted by agro-businesses in Plateau State.
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To analyze the relationship between strategic planning and business sustainability.
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To identify challenges in implementing strategic planning for sustainability in agro-businesses.
Research Questions
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What strategic planning practices are commonly adopted by agro-businesses in Plateau State?
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How does strategic planning influence business sustainability in the agro-business sector?
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What challenges do agro-businesses face in implementing strategic planning for sustainability?
Research Hypotheses
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Strategic planning does not significantly influence business sustainability in the agro-business sector.
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Agro-businesses in Plateau State do not commonly adopt strategic planning practices.
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Challenges in implementing strategic planning do not significantly affect business sustainability.
Scope and Limitations of the Study
The study focuses on agro-businesses in Plateau State, examining their strategic planning practices and their impact on sustainability. Limitations include data availability, variability in business sizes, and potential respondent biases.
Definitions of Terms
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Strategic Planning: A systematic process of defining business goals and determining the actions needed to achieve them.
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Business Sustainability: The ability of a business to maintain long-term viability while balancing economic, social, and environmental goals.
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Agro-Businesses: Enterprises involved in the production, processing, and distribution of agricultural products.
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