ENEMS MICROSYSTEMS RESEARCH SPOT: THE ROLE OF STRATEGIC PLANNING AND POLICY ADMINISTRATION IN AN ORGANIZATION

THE ROLE OF STRATEGIC PLANNING AND POLICY ADMINISTRATION IN AN ORGANIZATION

(A case study of Federal Ministry of Finance, Abuja)

ABSTRACT

This project title the effect of strategic planning and policy administration in organization growth & development (A case study of the federal ministry of finance) is geared towards the evaluation of the role of an organization in strategic planning and policy administration, it views the difficulties involved in carrying out such task. This project is divided into five chapters, the first chapter comprise of introduction and historical background of the study. The second chapter comprises the meaning of strategic planning, planning model, policy formulation and implementation, classification of policies, Administration of policies and problems. The third chapter comprise of how the data is collected and the sample size. The fourth chapter comprises of data presentation and analysis and test of hypothesis. The final chapter is the conclusion of the study. Also appropriate recommendations were made as to how to have an effective Administration policies and plans in an organization. This is an intellectual work and like all other intellectual work did not draw a final conclusion.

CHAPTER ONE

1.1 INTRODUCTION

Strategic planning is an organization process of defining its strategy or direction, and making decision on allocating its resources to pressure this strategy. Strategy involves settings goals, determining actions to achieve the goals and mobilizing resources to executes the actions.

A strategy describes how the ends (goals) will be achieve by the means (resource) the senior leadership of an organization is generally responsible for determining strategy.

Fundamental decision and actions that shape and guide what an organization is, who it serves, what it does, and why it does it, are produce by strategic planning. Effective strategic planning articulates not only where an organization is going and the action needed to make progress, but also how it will know it successful. This project is concerned with the role of strategic planning and policy administration in the growth and development of an organization with a focus on the Federal Ministry of Finance, Abuja.

1.2 BACKGROUND OF THE STUDY

This project is concerned with the role of strategic planning and policy administration in organization growth and development. For any organization to continue to exist for a very longtime, that organization must come out with policy and plans that will enable it meet the long run objectives.

As argued by Ogedengbe (2007) in one of his historic articles summarized strategy into five “1” of plan, play, pattern, position and perspectives. This five “P” should be applied in the formulation and implementation of plan and policy in an organization for speedily growth and development. Strategy may be applied in my goal oriented organization or establishment.

Strategic according to the oxford advanced learner’s dictionary defines strategic as part of a plan that is meant to achieve a particular purpose or to gain an advantage.

1.3 KNOWLEDGE OF THE CASE STUDY

The federal ministry of finance owes its origin in part, to the finance (control & management) act, cap. 144 of 1958. The enactment of this act created the ministry as a replacement for the then finance department and conferred on it the responsibility for the control and management of public finance for the federation. The act becomes operational from July 31, 1958. The broad functions and responsibilities of the ministry as provided by the act fall into the following categories;

General supervisions and control of public funds of the federation industry development and contingencies funds.
Management and control of consolidated revenue funds.
Securing and managing the investment of the federation.
Preparation of annual (budgetary)
Estimate in appropriation bill including supplementary and unexpected votes
Control and management of external finance of the federation.

MINISTRIES AND AGENCIES

Budget Office of Federation

Office of the accountant general

Security and exchange commission

Fiscal Policy In Nigeria
Federal Inland Revenue Service
Department of debt Management Office
Investments And Securities Tribunal
Nigeria Deposit Insurance Corporation
National Insurance Commission

OTHER RELATED LINKS TO THE MINISTRY

Central Bank of Nigeria
Bank of Industry
Servicom Nigeria
The Nigeria Capital Market Institute (NCMI)
Nigeria Export Import Bank (NEXIM)

It has staff strength of approximately two thousand.

1.4 STATEMENT OF THE PROBLEM

Planning and policy is very important administration, planning and policy problem may be analyzed as follows

Ambiguity in definition of objectives – so many organizations does not streamline their objectives thereby causing the process of policy implementation to be slow thereby reducing growth and development process.
Ineffective leadership implementation of policy –some managers in an organization may be problem to the organization from their leadership pattern or styles.
Lack of required reserves-lack of finance may affect strategic planning and policy in an organization thereby reducing organizational development
Inappropriate planning and policies-since most business owners lack necessary managerial skills, especially interpersonal or human relation skills thereby making inappropriate decision and policy.
Too much level of management may create for policy undergoing many stages before implementation this may lead to distortion.

1.5 PURPOSE OF THE STUDY

The purpose of the study is to find out what strategic planning really is, the study would also analyze the effect of strategic planning in organizational development and growth. It is important to determine the extent to which strategic planning and policy administration will affect organization development and growth. Furthermore, we would like to determine whether strategic planning and policy administration would increase organizational growth and development.

1.6 OBJECTIVE OF THE STUDY

The objectives of this study are as follows;

To formulate realistic and attainable policies that will enable organization growth and development.
To place effective strategy in an organization in growth plans and actions.
To bring to light the importance of strategic planning and policy formulation and implementation.
To ensure that policy statement are flexible.
To place effective integration of an organization in growth plans and actions, both current and for the future.

1.7 SIGNIFICANCE OF STUDY

The significance of the study to business executives and managers is

To enable the reader to know the relative role of strategic planning and policy administration in organization growth and development.
It will also help the reader to know the planning model to get an effective implementation of policy
This project would also help student concern, directors, managers who would like to research on the same topic or a similar one in the future to expend on their horizon

1.8 RESEARCH METHODOLOGY

Research methodology is a systematic way of finding new knowledge of subject or been brought to a logical conclusion. Research methodology includes;

Source of data collection – under this data collection techniques there are thus sources consulted namely, the primary and secondary data collection source.
Population for this research, the Federal Ministry Finance was chosen as my case study, so the population study is restricted only to this ministry. Other subject discuss under research methodology would be find in chapter three of this work.

1.9 RESEARCH QUESTIONS

What is strategic planning?
What are the roles of strategic planning in organizational development and growth?
To what extent can strategic planning and policy administration affect organization development and growth?
Is strategic planning and policy administration statement flexible?
Can strategic planning and policy administration increase organizational growth and development?

1.10 RESEARCH HYPOTHESIS

Hypothesis is defined as a guide to research or investigation in the entire process of research endeavor. It keeps the researcher on the main line of his or her study.

H_O: Lack of effective strategic planning and policy administration may likely not affect policy formulation and implementation

H_I: Lack of effective strategic planning and policy administration may likely affect policy formulation and implementation

1.11 SCOPE OF STUDY

This study is delimited to and will be conduct in Abuja; the study will be carried out in Federal Ministry of Finance, Abuja.

1.12 LIMITATION OF STUDY

A research of this nature is found to have a lot of limitation. Time factor was a serious problem, given the time period for the completion of this research work was share along with other academic, non-academic work which was necessary in relation with the completion of the school in general. Another limitation is that of material for the secondary data. Ever though there are many existing textbooks and journal of strategic management which would have been used for the research work. Another limitation is financial constraint.

1.13 ORGANIZATION OF THE STUDY

This has to do with the materials use in the project and the various chapters which were used to present the result of this work, result like scope of study, research methodology, and chapters in the project works.

1.14 DEFINITION OF TERMS

Administration: Is the activities that are done in order to plan, organize and run a business.

Association: having two things connected either two people coming together to do business.

Development: It is the gradual growth or process of advancing something.

Formulation: To create or prepare

Growth: The process of increasing or expanding

Implementation: To make that which has been officially decide to happen or use.

Organization: This is defined as any group of two or more people working together in a predetermined fashion to attain a set goal

Planning: Is the act or process of doing something that you intend to do or achieve.

Policy: can be defined as a guide to thinking in decision making.

Strategy: Is a unified, comprehensive and integrated plan designed to assure that the basic objectives of the enterprise or business are achieved.

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ENEMS MICROSYSTEMS RESEARCH SPOT

Thursday, 9 March 2023

THE ROLE OF STRATEGIC PLANNING AND POLICY ADMINISTRATION IN AN ORGANIZATION

THE ROLE OF STRATEGIC PLANNING AND POLICY ADMINISTRATION IN AN ORGANIZATION

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