Abstract
This study attempts to examine enhancement of Organisational performance through strategic management. The performance of any business organization in the competitive economy is highly dependent upon the quality of its management vis a vis proper implementation of strategic management. The dynamism in business environment makes it imperative for organizations to adopt an anticipating stance towards changes. Cultivating a proactive management culture that will enable an organization to take advantage of opportunities that exist in its operating environment. Strategic management is an important and indispensable tool for the business organization performance, and for any organisation that wants to gain competitive advantages.
Proper implementation of the strategic management along with other models of strategic planning in a business organization would provide a fresh approach to re-emphasizing responsibilities to manager. The study revealed that a genuine application of strategic management by manager will enhance organisation performance.
There are a variety of challenges facing the energy industry, from decreased access to sovereign reserves, to declining fields, innovation challenges, increased regulation and new energy policies. These challenges pose a threat to the basic industry structure. Oil & gas companies espouse four common industry-wide strategies of Portfolio Management, Operational Efficiency, Financial Management and Sustainability-of which the first three are core operating strategies of oil & gas companies. The companies have derived their profitability, growth, and shareholder returns based on the superior execution of these strategies. This study examined the conceptual framework of strategic management, the process and implementation, how it impacts on organization’s performance, its advantages and disadvantages, the levels of strategy, the supply
chain strategy of NNPC, and the five year strategic plan of the oil and gas industry.
Hypothesis were formulated and tested in accordance to response to questionnaires received which validated the research on the impact of strategic management of performance.
However, based on observation, the researcher recommended that Successful strategy formulation does not all guarantee successful strategy implementation, therefore, once the course of strategy has been charted the manager’s priorities swing to converting the strategic plan into actions and good results.
Abstract
Table of Content
Chapter One
Introduction
1.1 Background of the study - - - - - - 1
1.2 Statement Of The Problem - - - - - - 2
1.3 Research Questions - - - - - - - 6
1.4 Objective Of The Study - - - - - - 6
1.5 Research Hypothesis - - - - - - - 7
1.6 Significance and Limitation Of The Study - - - 7
1.7 Scope and Limitation Of The Study - - - - 8
1.8 Definition Of Terms - - - - - - - 8
Chapter Two
Literature Review
2.1 Introduction - - - - - - - - 11
2.2 Conceptual Framework of Strategic Management - - 13
2.3 The Strategic Management Process - - - - 15
2.4 The Tasks of Strategic Management - - - - 18
2.5 The Role of Strategic Management - - - - 23
2.6 Levels of Strategy - - - - - - - 24
2.7 Strategic Planning Tools - - - - - - 27
2.8 Advantages and Disadvantages of Strategic Management - 36
2.9 Relevance of Strategic Management to Organizational Performance39
2.10 Strategic Issues in the oil and Gas Industry - - - 41
2.11 Supply chain Business Level strategy of NNPC - - 42
2.12 Nigeria’s oil and Gas Strategy for the Next Five Years - 46
Chapter Three
Research Methodology
3.1 Introduction - - - - - - - - 52
3.2 Research Design - - - - - - - 52
3.3 Population and Sampling Technique - - - - 53
3.4 Method Of Data Collection - - - - - 55
3.5 Procedure for Data Analysis - - - - - - 56
3.6 Justification of Method - - - - - - - 57
Chapter Four
Data Presentation and Analysis
4.1 Introduction - - - - - - - - 59
4.2 Data Presentation and Analysis - - - - - 60
4.3 Test of Hypothesis - - - - - - - 64
4.5 Interpretation of Findings - - - - - - 74
Chapter Five
Summary, Conclusion and Recommendations
5.1 Summary - - - - - - - - 76
5.2 Conclusion - - - - - - - - 77
5.3 Recommendations - - - - - - - 77
Bibliography - - - - - - - - 79
Appendix - - - - - - - - - 82
Questionnaires