Influence of Strategic Planning to Firm Performance in Agricultural Research Based Institutions of Kenya

Musi, Yusuf W.; Mukulu, Elegwa; Oloko, Margaret

doi:10.5539/jms.v8n4p83

Cited by 9 publications

(10 citation statements)

References 12 publications

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“…A strong positive association between ERM and strategic planning was also established (β = 0.709, p < 0.005) consistent with prior findings [69]. Strategic planning is also found to have a significant positive relationship with firm performance (β = 0.331, p = 0.018) in line with prior researchers [69], [57], [25] but fails to find support for the findings of other scholars [26].…”

Section: Fig 4 Structural Mediation Modelsupporting

confidence: 65%

Integrating Enterprise Risk Management with Strategic Planning for Improved Firm Performance

Kanu¹

2020

EJBMR

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The purpose of this paper is to investigate whether the integration of ERM at the strategic planning stage improves a firm's financial performance measured in terms of return on assets. Many researches in the literature have focused on the determinants of ERM implementation and its effects on firm performance. In most of these studies, the ERM concept has been measured dichotomously. A comprehensive measure of ERM is used in this study from primary data gathered based on an established ERM framework. The results show that ERM implementation is not significantly related to firm performance. However, empirical evidence is provided that if ERM is integrated with strategic planning, firm performance shall significantly improve. The comprehensive ERM measure provided contributes to the literature as it enables risk practitioners to assess the level of risk management in their organizations. ERM researchers can use this measure to do away with the dichotomous ERM measure. Furthermore, the study provides evidence of strategic planning, serving as a mediator in the ERM and firm performance relationship in a less investigated context of Africa.

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Section: Fig 4 Structural Mediation Modelsupporting

confidence: 65%

Integrating Enterprise Risk Management with Strategic Planning for Improved Firm Performance

Kanu¹

2020

EJBMR

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“…This practice has also been found to assist in managing inventories to meet production requirements such as production speed, dependability and flexibility [75,76]. Thus, MRP has been associated with operational performance by playing key roles in preventing inventory obsolescence, stock outs, excess stock levels while improving material flow, customer satisfaction and product quality [74,77,78]. The study, therefore, hypothesises that; H6: Material Resource Planning significantly improves operational performance of manufacturing firms.…”

Section: Materials Resource Planning and Operational Performancementioning

confidence: 95%

Inventory Management Practices and Operational Performance of Manufacturing Firms in Ghana

Opoku

Fiati

Kaku

et al. 2020

AIR

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Aims: The study examined the effect of different inventory management practices on the operational performance of manufacturing firms in Ghana. Study Design: The study adopted the descriptive survey design. Place and Duration of Study: The study was conducted among manufacturing firms within the Accra, Tema and Kumasi metropolises in Ghana between November 2019 and February 2020. Methodology: The study randomly sampled 152 Procurement and Operations managers and officers from 246 registered manufacturing firms with the Association of Ghana Industries. The manufacturing firms are specifically located within the Accra, Tema and Kumasi metropolises. The study gathered primary data using structured questionnaires of which analysis was done using both descriptive and inferential statistical tools including mean, standard deviation and ordinary least square regression. Results: Using 114 valid responses, the study found manufacturing firms in Ghana to have high preference for Strategic Supplier Partnership (M=3.63) and Activity Based Costing (M=3.56, whereas they had least preference for Just In Time (M=3.06). The ordinary least square regression analysis showed that all the different inventory management practices: strategic supplier partnership (P=.000), activity based costing (P=.025), vendor managed inventory (P=.008), economic order quantity (P=.19), material resource planning (P=.000) and just in time (P=.009) are significantly and positively associated with operational performance. Conclusion: The study concluded that inventory management practices especially strategic supplier partnership plays tremendous roles in improving the operational performance levels of manufacturing firms in a developing economy notably Ghana.

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“…In previous research, the extensive use of non-financial ratios as indicators of firm success was illustrated. These include Berraies and Hamoud (2018), Dotson and Allenby (2010), Lukason et al (2019), Melián-González et al (2015), Musi et al (2018), Silveira (2019), Simon and Gómez (2014), Towler et al (2011), andWatkins (2000). The seven nonfinancial performance (NFP) indicators used in this present study were (1) customer satisfaction, (2) employee satisfaction, (3) policy implementation, (4) communication among divisions, (5) employee efficiency, (6) internal control efficiency, and (7) regulatory com-pliance.…”

Section: Literature Review and Research Hypothesesmentioning

confidence: 96%

“…A similar number of papers have studied non-financial performance (NFP) tools. These include the works of Banker et al (2004), Berraies and Hamoud (2018), Dotson and Allenby (2010), Wegmann and Poincelot (2012), Lukason et al (2019), Melián-González et al (2015), Musi Musi et al (2018), Silveira (2019), Simon and Gómez (2014), Towler et al (2011), andWatkins (2000). The findings from those papers present contradictory evidence.…”

Section: Introductionmentioning

confidence: 99%

The Effects of the Strategy and Goal on Business Performance as Mediated by Management Accounting Systems

Visedsun

Terdpaopong

2021

Economies

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Previous research in the literature often investigated the associations between management accounting systems and the success of organizations. However, little has been done in regard to the association of business strategies, goals, and firms’ performance while having management accounting tools as mediators. Management accounting systems are classified as traditional and strategic management accounting themes. Each theme, of course, implements different accounting tools. This article explores the degree to which, as mediated by management accounting systems, the business strategies and business goals of large Thai manufacturing companies influence their financial and non-financial performance. To gather the data, a survey questionnaire was developed. Of the 1500 companies selected for inclusion in the survey, 205 provided completed and usable responses for a response rate of 13.67%. Structural equation modeling (SEM) was used to analyze the relationships among the variables. The findings shed some light on what the management of a firm could expect concerning organizational performance from their business strategies, business goals, and the implementation of specific management accounting systems. Corporate strategies and corporate goals had a statistical influence on both the financial and non-financial performance of the large corporations in Thailand when mediated via strategic management accounting systems, while there was no influence when mediated by traditional management accounting systems. A greater understanding of the relationships and effects of which mediators should have been employed in organizations to bring forth business strategies and business goals and generate productive results for organizational performance is provided by this research. Choosing the appropriate performance mediators can help achieve corporate strategies and goals.

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Influence of Strategic Planning to Firm Performance in Agricultural Research Based Institutions of Kenya

Cited by 9 publications

References 12 publications

Integrating Enterprise Risk Management with Strategic Planning for Improved Firm Performance

Integrating Enterprise Risk Management with Strategic Planning for Improved Firm Performance

Inventory Management Practices and Operational Performance of Manufacturing Firms in Ghana

The Effects of the Strategy and Goal on Business Performance as Mediated by Management Accounting Systems

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