Effects of managerial Characteristics on corporate planning implementation. (A survey of quoted Banks in Nigeria)

Abstract

This study examines the effects of managerial characteristics on corporate planning implementation (A survey of quoted Commercial Banks in Nigeria). Three objectives were stated, hypotheses and research questions were also formulated in line with the objectives. The total population of this study was four hundred and seventy (470) so sampling was not necessary. Out of the 470 copies of questionnaires distributed 420 were collected.   Data were collected through oral interview and questionnaire, and descriptive survey research design was adopted for the study .The three hypotheses of the study were tested using Product moment correlation coefficient and t-test at 0.05 significance level. The study reveals that: The organizations under study embark on corporate planning but still, there is a problem in implementing all the stated plans. They involve only the first and second level managers in the formulation. The third level managers are responsible for implementation. There is also a positive and significant relationship between corporate planning implementation and managers’ experiences. There is a weak and poor relationship between corporate planning implementation and educational level of manage, significant and positive relationship between corporate planning implementation and managers’ age. The study concludes that implementation of corporate strategic planning is an essential activity for meeting service objectives and developing organizational health and growth.  For this reason, corporate planning which is the processes that provides organizations with medium to long-term direction should be embraced by organizations that ardently desire to increase the organizational values, accomplish their objectives and achieve competitive advantage and managers effectiveness. It is also worthy to note that corporate planning is highly valued and adopted by the most successful and best managed banks in Nigeria.  The study recommends that private and public, small and large organizations should embrace corporate planning and ensure that the formulated plans are implemented for the sustainability of organizations.