An examination of the effectiveness of corporate planning in management process (a case study of Diamond Bank Plc)

ABSTRACT

The Nigeria business is so volatile, to the extent that only those who can scan it successfully, forecast the possible charges in it and thereafter marshal all available resources in accordance with the dictates and demands of the environment can operate successfully in it.

This project work is to asses and examine the effectiveness of corporate planning as the management process and also to evaluate its contribution as a catalyst to the survival, growth and profitability of the organization.

The study examined corporate plan formulation and implementation in the organization. It highlighted how consultations, deliberations and condition for effective planning were properly taken care of. The project work also showed the dependence of the management functions like organizing, staffing, coordinating, reporting, leading and budgeting on effective corporate planning.

The dynamic of planning in Diamond Bank was appraised. The evolution , implementation, success and benefits of corporate planning in bank was discussed. The fundings showed that corporate planning process and implementation in Diamond Bank is quite impressive. The workers embrace it, contribute fully to its success and show loyalty and commitment to the plan. Management in turns encourages them through motivation and effective communication.

This in conclusion planning is greatly helping the bank to maintain its competitive edge in the country.