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The Impact of Strategic Planning on Organizational Performance: A Case Study of Peace Standard Pharmaceutical Nig. Ltd.
Subject area: Management and Commerce · Area of research: Organizational Structure and Performance
Abstract
This study explores the impact of strategic planning on the organizational performance of Peace Standard Pharmaceutical Nig. Ltd., a leading pharmaceutical company. Factors such as budget allocation, long-term goals, strategy implementation, strategy monitoring, leadership style, organizational culture, employee engagement, and HR management practices are analyzed to understand their influence on organizational performance. While some variables do not show a significant impact, such as budget allocation, long-term goals, leadership style, organizational culture, employee engagement, HR management practices, competitive landscape, economic conditions, and technological advancements, others like strategy monitoring and the regulatory environment exhibit varying degrees of influence. These findings contribute to improving the strategic planning process and driving organizational performance for Peace Standard Pharmaceutical Nig. Ltd. Further qualitative research methods can provide additional insights from key stakeholders to enrich our understanding of the relationship between strategic planning and organizational performance.
Keywords
Strategic, planning, Organizational, performance, Budget, Leadership style.
References
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How to cite this paper
@article{1704502,
author = {Remi-Aworemi, I.F, Aworemi, J.R, Abiri, O.N},
title = {The Impact of Strategic Planning on Organizational Performance: A Case Study of Peace Standard Pharmaceutical Nig. Ltd.},
journal = {Iconic Research And Engineering Journals},
year = {2023},
volume = {7},
number = {1},
pages = {520-527},
issn = {2456-8880},
url = {https://www.irejournals.com/formatedpaper/1704502.pdf},
abstract = {This study explores the impact of strategic planning on the organizational performance of Peace Standard Pharmaceutical Nig. Ltd., a leading pharmaceutical company. Factors such as budget allocation, long-term goals, strategy implementation, strategy monitoring, leadership style, organizational culture, employee engagement, and HR management practices are analyzed to understand their influence on organizational performance. While some variables do not show a significant impact, such as budget allocation, long-term goals, leadership style, organizational culture, employee engagement, HR management practices, competitive landscape, economic conditions, and technological advancements, others like strategy monitoring and the regulatory environment exhibit varying degrees of influence. These findings contribute to improving the strategic planning process and driving organizational performance for Peace Standard Pharmaceutical Nig. Ltd. Further qualitative research methods can provide additional insights from key stakeholders to enrich our understanding of the relationship between strategic planning and organizational performance.},
keywords = {Strategic, planning, Organizational, performance, Budget, Leadership style.},
month = {July},
}