IMPACT OF STRATEGIC PLANNING ON ORGANISATIONAL PERFORMANCE OF MICROFINANCE INSTITUTION IN MYANMAR
Abstract
The study is focused on the impact of strategic planning on organizational performance of Microfinance in Myanmar. Strategic planning plays as a vital role in organizational performance. In the long run, strategic planning has impact on the survival of organization. Microfinance has grown over the years since Microfinance sector has ability to improve the livelihood of the small holder. Microfinance institutions support the small holders through provision of loan facilities at low interest rates. Although microfinance sector is growth, most Microfinance Institutions (MFIs) still find challenges in dealing with the needs of increased customer in a dynamic financial environment that require establishment of viable strategies. Strategic planning is important to compete the market for survival of organization in the dynamic economic environment. The main limitation facing MFIs has been performance in terms of management, operations and strategic issues. The heavy barrier in implementing strategic planning is the lack of commitment as it distracts the successful implementation of strategic planning. There are many impacts of strategic planning on organizational performance such as high-quality products, significant changes in profitability level, large customer patronage and increases in sales volume.
Strategic planning intensity is determined by managerial, organizational and environmental factors. The objective of this study is to investigate the impact of strategic Planning on organizational performance of microfinance institution (MFI) in Myanmar. This paper provides information which will assist managers to understand the importance of strategic planning process in realization of organizational goals.
Keywords:
Strategic Planning, Organization, Strategy, Competitive AdvantageDownloads
References
Akingbade, W. A. (2007). Impact of Strategic Management on Corporate Performance in Selected Indigenous Small & Medium Scale Enterprises in Lagos Metropolis. Unpublished M.Sc.Thesis, Department of Business Administration & Management Technology; Lagos State University, Ojo; Lagos.
Akinyele S.T. & Fasogbon O.I. (2007). Impact of Strategic Planning on Organizational Performance and Survival. Research Journal of Business Management, 1(1), pp 62-71.
Ansoff, I. (1989). Corporate Strategy. Rev. Edn. Penguin. Harmondsworth, UK.
Armstrong, M. & Baron, A. (1998). Performance Management: The New Realities. Publisher: Gardners Books. UK.
Byars, L.L. & Rue L.W. (2000). Human Resource Management. 6th Edition. Irwin Mc Graw- Hill Publication. US.
Cragg, W. (2002). Business Ethics and Stakeholder Theory. Business Ethics Quarterly, 12(2), pp 113-142.
Cressy, E. (2009). An Outline of Industrial History, with Special References to Problems of the Present Day. BiblioBazaar. US.
Daniels, A.C. & Daniels, J.E. (2004). Performance Management: Changing Behavior that Drives Organizational Effectiveness. 4th Edition. Performance Management Publications. US.
Goldenberg, D.I. (2000). Shareholder value debunked. Strategy & Leadership, 28(1), pp 30- 36.
Haden, N.K. (2010). Five Common Challenges to Strategic Planning. Academy for Academic Leadership, AAL Group. Retrieved From: http://www.aalgroup.org
Hill, C.W.L., Jones, G.R. & Galvin, P. (2004). Strategic Management: An Integrated Approach. John Wiley and Sons. Australia.
Hummel, D.B., & Hummel. (2009). Spencer, Herbert (1820-1903). In H. J. Birx (Ed.), Encyclopaedia of Time: Science, Philosophy, Theology, & Culture. Thousand Oaks, CA: Sage Publications. Retrieved From: https://search.credoreference.com/content/topic/spencer_herbert_1820_1903
Kenny, G.K. (2013). Crack Strategy's Code: Build and Sustain Your Competitive Edge. President Press. Mosman, NSW.
Kuye, O.L. (2004). Management Concepts and Process. Harry-Dons Ventures. Lagos. Lantos, G.P. (2001) The Boundaries of Strategic Corporate Social Responsibility. Journal of Consumer Marketing, 18(7), pp 595-632.
Ledgerwood, J. (1999). MicroFinance Handbook- an Institutional and Financial Perspective. The World Bank, Washington, D.C.
Mankins, M. & Steele, R. (2005). Turning Great Strategy into Great Performance. Harvard Business Review (July–August). Retrieved From: https://hbr.org/2005/07/turning-great- strategy-into-great-performance
McKelvie, A. & Wiklund, J. (2010). Advancing Firm Growth Research: A Focus on Growth Mode Instead of Growth Rate. Entrepreneurship: Theory & Practice, 34(2), pp 261-288.
Morphy, T. (2015). Stakeholder Engagement. Retrieved From: https://www.stakeholdermap.com/stakeholder-management.html#management
Nmadu, T.M. (2007). Strategic Management in some Nigerian Businesses: A Business Reality. Journal of Management Research and Development, 1, pp 17-23.
Porter, M.E. (1980). Competitive Strategy: Techniques for Analysing Industries and Competitors. Free Press. US.
Prevos, P. (2005). Strategic Management and Business Performance. Retrieved From: http://www.prevos.et/strategic.pdf
Robbins, S.P. & Coulter, M.K. (1996). Management. Prentice Hall. US.
Robbins, S, Bergman, R, Stagg, I & Coulter M, (2008). Management. 4th Edition. Pearson Prentice Hall. Australia.
Sheldrake, J. (2003). Management Theory. 2nd Edition. Cengage Learning EMEA. UK.
Silverman, D. (2000). Doing qualitative research: A practical handbook. Thousand Oaks, Sage. CA.
Simons, R. (1995). Levers of Control: How Managers Use Innovative Control Systems to Drive Strategic Renewal. Harvard Business School Press. US.
Published
How to Cite
Issue
Section
License
Copyright (c) 2019 International Journal on Recent Trends in Business and Tourism (IJRTBT)
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
