Description
Abstract
Strategic planning is a top management function and this must be designed by such managers who are need of it and make use of it on a daily basis. Strategic planning can be seen as a tool for greater achievement to managers as this helps in effective planning and good decision making in any organisation. Strategic planning helps organizations in creating a bold vision for the future, strengthen new partnerships, forge creative and innovative linkage between stakeholders. It also serves as a tool for effectively plotting the direction of a company. The only thing that as permanent in this word is change, life keeps changing. Therefore, strategic innovation and tinkering with the strategic plan have to be a cornerstone strategic for an organisation/ banks’ to survive the turbulent business climate. This project provides a unique opportunity for people in the banking sector and people who do not know much about strategic planning, the concept of strategic planning, the relevant models to the theory and how it can help the banking industry to move forward and to have an indebt of the topic. Lastly, far- reaching recommendations were made in this project work which may prove themselves potent to any bank that intends to adopt strategic planning now or in the nearest future.
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