Home / Current Issue / Paper 1709890
Strategic Planning and Organisational Efficiency-A Focus on Selected Accounting Firms in Abuja.
Subject area: Management and Commerce · Area of research: Strategic Management
Abstract
Accounting firms all over the world face significant challenges that require high level of organisational efficiency to overcome. This study therefore, examined the effect of strategic planning on organisational efficiency of accounting firms in Abuja; while considering the moderating role of leadership style. The study focused on 8 randomly selected accounting firms with offices in Abuja; and used structured questionnaire. The study was quantitative. Cronbach's Alpha was used to assess reliability of data with expert opinion providing additional validation. Descriptive research design was adopted. Statistical tool of analysis and test of hypotheses used was multiple linear regression model. Findings of this study affirmed that the three dimensions of strategic planning studied ? strategy formulation, strategy evaluation and monitoring and evaluation used as proxies individually have significant and positive relationship with organisational efficiency. Findings also revealed that the combined effect of the components indicated a weak predictor of organisational efficiency however, this predictive power was improved when leadership style was introduced as a moderator. The study recommends that they adopt a leadership style that is inspirational, supportive, all-inclusive, and encourages innovation.
Keywords
Accounting Firms, leadership style, Organisational Efficiency, Strategic Planning
References
[1] Abdurachman A., Mohd Y.Y., Jumadil S., Zikri M. & Abdul T. (2021). A review of work effectiveness and efficiency, service quality and organisational performance literature: a mini-review approach. Annual International Conference on Industrial Engineering and Operations Management Singapore, Conference Paper · DOI: 10.46254/AN1120210873
[2] ACCA (2024). Professional accountants – The future: drivers of change and future skillsThe Association of Chartered Certified Accountantshttps://www.accaglobal.com/content/dam/members-beta/docs/ea -patf- drivers-of-change-and-future-skills.pdf
[3] Aderibigbe, E. O. (2021). Impact of strategic planning on organisational performance of health care services in Nigeria. Science Journal of Business and Management. 9(3) 2021, pp. 209214.https://www.sciencepublishinggroup.com/journal/sjbm
[4] AFA Strategic Plan 2024-2027 (2024). Towards the golden jubilee: advancing the accountancy profession in ASEANhttp://afa- accountants.org/files/AFA_Release%20_AFA%20S trategic%20 Plan%
[5] African Development Bank Group (ADBG) 2024 – 2033 (2025). The Ten-Year Strategy Seizing Africa’s opportunities for a prosperous, inclusive, resilient, and integrated continent. https://www.afdb.org/en/documents/ten-year-strategy-african-development-bank-
[6] AICPA & CIMA (2021). AICPA Auditing Standards Board’s strategic plan 2021- 2025 https://www.aicpa-cima.com/resources/
[7] Andrew F. H. (2022). Introduction to mediation, moderation, and conditional process analysis a regression-based approach. Cliford Press ISBN 978-1-60918https://www.researchgate.net
[8] Ankur J., Saket K., Satish C & Pal D. K. (2015). Likert scale: Explored and explained British Journal of Applied Science & Technology 7(4): 396-403, DOI: 10.9734/BJAST/2015/14975
[9] Arief, F., Citra, S. & Ida, F. (2023). The influence of business strategy, leadership style, and effectiveness of internal control system on implementation of good government governance and its implication on organisational performancehttps://www.growingscience.com/dsl/Vol12/dsl_2023_27.pdf
[10] Awotomilusi N, Dagunduro M, E. & Osalon, B. O. (2022). Adoption of cloud computing the efficacy of accounting practices in Nigeria.International Journal of Economics, Business and Management Research6(12) https://doi.org/10.51505/IJEBMR.2022.61215
[11] Boateng, P. A. (2019). Environmental characteristics: Moderator of strategic planning process formality and performance. International Journal of Managerial Studies and Research (IJMSR)7(1)http://dx.doi.org/10.20431/2349-0349.0701003
[12] Brand, H. (2016). Professional accountants – The future: drivers of change and future skills The Association of Chartered Certified Accountantshttps://www.accaglobal.com/content/dam/members-beta/docs/ea-patf-drivers-of-change-and-future-skills.pdf
[13] Brastoro, L., & Nargis, L. (2024). Efficiency unleashed: streamlining operations for organisational excellence. Journal of Innovation, Efficiency and Technology in Organisation2(1).https://journal.takaza.id/index.php/ambidextrous
[14] Bwalya, A. (2023). Leadership styles. Global Scientific Journal 11 (8)https://www.researchgate.net/publication/373068669_leadership
[15] Campos, A., Pérez, R., & Soto, M. (2022). Strategic planning and management accounting techniques in SMEs: some empirical evidence. In Proceedings of the International Conference on Advanced Materials Research 2021
[16] Chukwuka E.J & Ese I.G (2022) Effect of strategic planning on the performance of small and medium scale enterprises in Nigeria, evidence from Delta state. Asian Journal of Economics, Business and AccountingDOI: 10.9734/AJEBA/2022/v22i2330731
[17] Deanna, D. (2022). Goal-setting theory: why it’s important, and how to use it at work Betterup. https://www.betterup.com/blog/goal-setting
[18] Devaki, R. Luis, F. & Aditya, S. (2024). Strategic planning best practices: strengthening the planning performance relationship management decision. Emerald Publishing Limited 0025-1747. DOI 10.1108/MD-02-2024-0386
[19] Evbodaghe J.I. (2020) Upholding ethical & professional standards in a compromising environment: a lesson for the accounting technicians at the 52nd induction ceremony for the Association of Accounting TechnicianWestAfrica(Aatwa)https://www.ifac.org/about-ifac/membership/members/institute- chartered-accountants-nigeria
[20] Gandrita, D. M. (2023). Improving strategic planning: the crucial role of enhancing relationships between management levels. Administrative Sciences 13: 211.https://doi.org/10.3390/ admsci13100211
[21] Guamba, J. M. E. (2016). Strategic planning and leadership. Research Center of Economic and Management, J. Arts Soc. Sci. http://dx.doi.org/10.20936/JASS/160101
[22] Gutterman, A. S. (2023). Introduction to strategic planning. Sustainable EntrepreneurshipProject.https://www.researchgate.net/publication/369737695
[23] Houssem, E. B. M. (2022). A review on the importance of strategic planning in business.
[24] SSRG International Journal of Economics and Management Studies 9 (7), https://www.internationaljournalssrg.org/IJEMS/2022/Volume9-Issue7/IJEMS-V9I7P101.pdf
[25] IAASB (2023) Handbooks, Standards, and Pronouncements.https://www.iaasb.org/publications/international-standard-auditing-audits-financial-statements-less-complex-entities?utm_source=chatgpt.com
[26] Idaho Commossion on aging .gov (2021). Developing strategic planning questionnairehttps://aging.idaho.gov/wpcontent/uploads/2021/03/questionnaire.pdf
[27] Jailyn, B. P. (2022). Strategies for improving organisational efficiency, productivity, and performance through technology adoptionJournal of Management and Administration Provision 2(3) https://doi.org/10.55885/jmap.v2i3.230
[28] Javed, B., Fatima, T., Khan, A. K., & Bashir, S. (2021). Impact of inclusive leadership on innovative work behavior: The role of creative self-efficacy.The Journal of Creative Behavior, 55, 769-782.https://doi.org/10.1002/jocb.487
[29] Jayawarna, S., & Dissanayake, R. (2019). Strategic planning and organisation performance: a review on conceptual and practice perspectives. Archives of business research, 7(6),DOI: 10.14738/abr.76.6684
[30] Kabeyi, M. J. B. (2019). Organisational strategic planning, implementation and evaluation with analysis of challenges and benefits for profit and non-profit organisations.International Journal of Applied Research 2019; 5(6): DOI: 10.22271/allresearch.2019.v5.i6a.5870
[31] Kawar, M. M., Khairi, A. A. A. & Sabahat, G. (2024). Strategic planning and organisational performance: an empirical study on manufacturing sector. Preprints.orgDoi: 10.20944/preprints202405.0776.v1
[32] Latham G.P & Locke E. A (1991). Self-regulation through goal setting -organisational behaviour and human decision processes. Academy of Management Review DOI: 10.2307/258875
[33] Mostert S, van Wyk M & Wessels R (2025) South African accounting students’ perceptions on soft skills development in an interdisciplinary case study.doi: 10.3389/feduc.2025.1534435
[34] Muazu, A. U. (2021) Review of the role of strategic planning in organisational performance.International Journal of Intellectual Discourse (IJID) ISSN: 2636-4832 4(2)https://ijidjournal.org/index.php/ijid/article/view/34/24
[35] Muhammad B. (2017).Accounting and finance education in Nigeria: challenges and changes for efficiency. Journal of Business and Management (IOSR-JBM) 19(6)DOI: 10.9790/487X190601110113www.iosrjournals.org
[36] Ndalu, T C., Olatunde, O. & Ogbonna G.N. (2021). The role of accounting in the economic. development of Nigeria. European Journal of Accounting, Finance and Investmenthttps://www.researchgate.net/publication/351565786
[37] Ngure, S. W. (2022). The balance score card as a strategic plan monitoring and evaluationtool: A practical approach. Business Ecosystem & Strategyhttp://dx.doi.org/10.36096/ijbes.4(2)
[38] Odero, J, A., & Wanyama, E. W. (2020). Calibrating implementation of strategic plans among commercial banks in Kenya: an analysis of leadership role.The Strategic Journal of Business & Change Management, 7(3)https://www.researchgate.net/publication/342735641
[39] Odero. J. A. (2023). Transactional leadership style and strategic plan implementation: the moderating role of organisational culture. Business Excellence and Management 13(1) https://beman.ase.ro/no131/2.pdf
[40] Ogungbadea O.I, Adekoyab A.C & Olugbodic D.I (2021) Audit Quality and Financial Reporting Quality of Deposit Money Banks Listed on the Nigerian Stock ExchangeJournal of Accounting, Finance and Auditing studies. DOI: 10.32602/jafas.2021.004
[41] Okwuise, U.Y. (2023). Strategic planning and performance of health establishments in delta state: moderating role of organisational culture. International Journal of Management & EntrepreneurshipResearch.https://doi.org/10.51594/ijmer.v5i1.434
[42] Olang’o, S.O. & Namusonge P.G (2018). Relationship between strategic planning and organisational performance: a case of Kenya water instituteInternational Journal of Social Sciences and Information Technologyhttp://www.ijssit.com
[43] Olawale, Y. A, Salman, A. A. & Akinroluyo, I. B. (2024) Impact of strategic planning on organisational performance- a study of GTBank Plchttps://jabu.edu.ng/wpcontent/uploads/2024/02
[44] Oluwatuyi, C. A. O., Ibrahim, J., & Folayan, O. D. (2018). Accounting and economic development in Nigeria. Conference paper presented at the impact of technologicalAdvancement on Economic Development.https://www.researchgate.net › publication › 32396601
[45] Ovbiagele, A. O. & Ijeh M. C. (2015). Strategic planning as an effective tool on organisational performance in Nigeria: An empirical study of some firms in Delta State Global Institute of Research and Education https://www.walshmedicalmedia.com › archive › gjiss-voPan African Federation of Accountants. (2022). PAFA Strategy for 2022–2024.https://www.pafa.org.za
[46] Pembi, S., Usman F. I., Kwajaffa B. F & Ametefe, M. D. (2022) Leadership styles and.leadership qualities for organisational success: a review of literatureNigerian Journal of Management Sciences 23 (2PFM Performance in Africa(2024)https://www.accaglobal.com/content/dam/ACCA_Global/professionalinsights/PFMperformanceinAfrica/ACCA_Africa_PFM%20Performance%20Report_
[47] Shrestha, N. (2020). Detecting multi-collinearity in regression analysis. American Journal of),Applied Mathematics and Statistics 8(2). Doi:10.12691/ajams-8-2-1
[48] Taroum, A. S. A., & Masaud, K. A. R. (2024). The effect of strategic planning on service quality in the higher education sector. European Journal of Development Studies, 4(2), https://doi.org/10.24018/ejdevelop.2024.4.2.358
[49] Umar A. A., Muhammad N., & Hassan I. (2020). Strategic planning process and organisational performance in Nigerian public sector: a review of literature. International Journal of Academic Research in Business and SocialSciences,10(7).https://www.researchgate.net/publication/344443092
[50] Wilson-Oshilim U.D, Odubuasi A.C. & Omoye A.S (2024) Creative Accounting and Corporate Failures on Nigeria Listed Firms. European Journal of Accounting, Auditing and Finance Research. doi: https://doi.org/10.37745/ejaafr.2013/vol12n8118
[51] Zach B, (2021). How to calculate Cronbach’s Alpha in excel. https://www.statology.org/cronbachs-alpha-excel
How to cite this paper
@article{1709890,
author = {Anyanwu Angela Ayoka , Prof. Udu Ama Aka , Dr. Eucharia Ume},
title = {Strategic Planning and Organisational Efficiency-A Focus on Selected Accounting Firms in Abuja.},
journal = {Iconic Research And Engineering Journals},
year = {2025},
volume = {9},
number = {1},
pages = {1530-1546},
issn = {2456-8880},
url = {https://www.irejournals.com/formatedpaper/1709890.pdf},
abstract = {Accounting firms all over the world face significant challenges that require high level of organisational efficiency to overcome. This study therefore, examined the effect of strategic planning on organisational efficiency of accounting firms in Abuja; while considering the moderating role of leadership style. The study focused on 8 randomly selected accounting firms with offices in Abuja; and used structured questionnaire. The study was quantitative. Cronbach's Alpha was used to assess reliability of data with expert opinion providing additional validation. Descriptive research design was adopted. Statistical tool of analysis and test of hypotheses used was multiple linear regression model. Findings of this study affirmed that the three dimensions of strategic planning studied ? strategy formulation, strategy evaluation and monitoring and evaluation used as proxies individually have significant and positive relationship with organisational efficiency. Findings also revealed that the combined effect of the components indicated a weak predictor of organisational efficiency however, this predictive power was improved when leadership style was introduced as a moderator. The study recommends that they adopt a leadership style that is inspirational, supportive, all-inclusive, and encourages innovation.},
keywords = {Accounting Firms, leadership style, Organisational Efficiency, Strategic Planning},
month = {July},
}