Establishing Strategic Value through Effective Planning in Business Concerns: An Empirical Review

Abstract

This study examined the effective planning and delivery of strategic value. The specific objectives are to: determine the importance of management and executive time input on how it affects customer base diversity, to identify the implication of cost in effective planning and point of difference, and to establish a relationship between commitment and brand strength. The study adopted the descriptive survey design. A sample size of one hundred (100) was obtained. Data collected were analyzed and hypotheses were tested using the simple percentage, chi-square test of association using the P-value of 0.05 as the level of significance. Findings revealed that there is no significant association between management time input and customer base diversity among others. The study concludes Business strategies are the basis of survival in a competitive business environment and should therefore be well developed. A strategic plan is useless unless it is successfully implemented, and this requires a good evaluation plan. The study recommends that organizations should put in place various strategies to ensure effective planning and implementation.