IMPROVING THE PERFORMANCE OF AN ORGANISATION THROUGH EFFECTIVE POLICY FORMULATION
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Abstract
Most organizations lack policy formulation for effective organizational performance is not usually carried out properly due to lack of appreciation and knowledge of the relevance of policy making and implementation on organizational growth. Descriptive research design was used in carrying out this research work and the regression analysis was used to analyse the data. The methodology that was used for the study is survey design and the target population was 180 members of staff of First bank Plc Enugu while the sample size was 124. The result of the analysis indicate that there is relationship between effective strategic planning and organizational performance and also that lack of accountability, lack of commitment and lack of understanding of the role in the execution process are challenges in the implementation of policy formulation and therefore recommend among others that Nigerian firms should give more serious attention to strategic planning and finally, employee welfare should also be given adequate attention for efficiency and effectiveness in organization.
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