Organizational performance as a construct suffers from problems of conceptual clarity in a number of areas. The first area is the definition of the construct. The term performance is often used in discriminately to describe everything from effectively and effectiveness to improvement. An adequate definition or in this case, many similar, yet different definitions, practitioners, use the term to describe a range of measurement including input efficiency (Stannack, 1996). Performance has to do with accomplishment, standard of accuracy, completeness, cost and speed. Performance is deemed to be fulfillment of an obligetion in a manner that releases the performer from all liabilities under the contract. Organizational performance therefore is a measure of how efficient an organization is, and how well they achieve appropriate objectives. This means that organization must be properly evaluated in terms of their productivity, Risk taking, decision and total commitment to their job so as to enable the organization to achieve expected goal(s).
Organizational performance has to do with the effectiveness of the organization in fulfilling its purpose. The measurement of performance is a very important aspect to be considered, in any business entity that is gearing towards success. The survival of any organization depends solely on its performance which is strategic in nature. Performance measurement is used to evaluate the entire progress of the organization. Most executives are pretty aware of the fact that there is no one magic formula for measuring business performance. A review of literature on the subject shows a market trend from financial ratio and tangible to non financial aspects and intangible as the important business measure. Others have argued that financial analysis measure are inadequate due to performance and cannot capture the true picture of the performance of the organization in the context of the modern business environment (Keplan and Nurton, 1996). What appear clear is that there are five main areas to be considered when evaluating business performance, market share, innovation led time and portion of revenue spend on research and development activities productivity of all input liquidity and shallow.
Organizations are becoming increasingly conversant with the reality that the substance of a good culture leads to value addition and maximization of profit. Strategic management is an ongoing process that evaluate and controls the business and the industries in which the company is involved, assesses its competitors and set goals and strategies to meet all existing and potential competitors and them re-assess each strategy annually or quarterly (i.e. regularly) to determine if it has been implemented and whether it has succeed or needs replacement by a new strategy to meet change. Political environment (Lamb, 1984). Achieving a competitive advantage position and enhancing firm performance relatively to their competitors are the main objectives that business organizations in particular should strive to attain. (Rasuan, Jejack, Haslinda and Alimin, 2009).
Strategic management can depend upon the size of an organization and the productivity to change of its business environment, therefore a global transactional organization may enjoy a more structured strategic management model, due to its stakeholders view and requirement. Major management theories such as those of Chandler (1962) and Child (1972), both cited in Meier, O’ Toole Boyne and Wilxen (1972) emphasized that private firms can exercise strategic choice, even in the face of external constraints. The way and manner they face strategic issues can affect the overall growth and development of the organization. It goes without saying that the strategic framework must also address fundamental issues such as resource base, infrastructural constraints, appropriate level of technology and raw materials input.
Strategic management is a disciplined approach utilizing the principles and processes of management to identify the corporate objectives or mission of any business. it determines an appropriate target to satisfy the objectives, recognize existing opportunities and constraints in the environment.
Therefore, this study is carried out to ascertain the relationship between strategic management and organizational performance. In the next segment statement of the problem will be discussed.
Strategic management as an emergency construct has been an important alloy of organizational culture. This is associated with some positive outcome, for example, some scholars have argued that strategic management of explore the benefit of this emerging area of behavioural dimension of employee performance related behaviour, may not go well with the smooth function and achievement objectives.
Therefore, this study has come out to ascertain the relationship between strategic management and organizational performance. In the next segment purpose and objectives of the study will be discussed.
The main purpose of this study is to ascertain the relationship between strategic management and organizational performance. The following objectives are to be achieved accordingly.
To examine the relationship between strategic management and organizational performance.
To examine the relationship between goal setting and organizational performance.
To examine the relationship between strategic implementation.
To examine the relationship between strategy monitoring and organizational performance.
To examine the relationship between strategy formation and organizational performance. In the next segment of this study research question will be discussed.
It is obvious that a study of this is not earned out for the purpose of it rather of the associated benefit. It has from union dimension firstly, the emerging construct strategic management will appear strange or not fully utilized by many organizational on the promise of outcome of this study will be useful to practicing managers of various organizational to success, for those in the academic field, it will also be useful including students that would explore these phenomenal areas for future research.
Those in the academic will also benefit in achieving other individuals. Therefore, we encourage practicing managers and organization to explore the emerging construct in the next segment scope of the study will be discussed.
The study is defined under the following content, scope, geographical scope and that of analysis.
In carrying out an investigation of this nature, the researcher most of necessity be faced with some constraint as they cannot be avoided in conducting this investigation, the researcher faced the following constraint.
Firstly, the uncompromising attitude of some of the respondents in providing useful information was also a factor that constrained the study. Usually, a study of this nature involved some level of expenditure. Therefore, finance is a uniting factor in the next segment: definition of the terms will be discussed.
Analysis strategy:This is a point where the strategy is analyzed for proper understanding.
Effectiveness: Doing the right thing.
Efficiency: Doing the right thing well as the right time.
Strategy formation: At this stage strategy is form, put in place.
Strategy monitoring: The management put in place a measure to check the strategy if it is giving them what they desire.
Strategy implementation:Putting strategy into work.
OTHER SIMILAR BUSINESS ADMINISTRATION PROJECTS AND MATERIALS