Publication Date: 2024/01/30
Abstract: Strategic planning has been found to be a vital ingredient to organizational success. But the performance of ECG leaves much to be desired. Hence, this study examines the effect of strategic planning on firm performance. It also assesses the moderating effect of firm challenges and government policies on the relationship. Correlational and cross-sectional design were used. Cluster and simple random were used to sample 385 respondents. Finding showed that 77% of respondents agreed that effective strategy formulation improves firm performance, whilst 23% disagreed. This had a mean (x̄) score of 4.47 and SD (σ) of 0.44. Strategy implementation had a x̄ score of 4.76 and SD of 0.43, Percentage wise, 97% agreed that efficient strategy execution improves firm outcomes, whilst 3% disagreed. In terms of strategy evaluation, 93% agreed that efficient project assessment improves performance outcomes, whilst 7% disagreed. This had a x̄ score of 4.78 and SD of 0.43.A significantly strong positive correlation was found between the study variables; strategy formulation and firm performance r(385) = 0.976, p<0.05, strategy formulation and implementation r(385) = 0.975, p<0.05, strategy formulation and evaluation r(385) = 0.980, p<0.05, strategy implementation and evaluation r(385) = 0.875, p<0.05, and strategy evaluation and firm performance r(385) = 0.976, p<0.05. In terms of moderating effects, challenges of ECG significantly moderate the relationship between strategic planning and firm performance with a (P-value ≤ 0.05) at levels 8.0000,0.0000, and 10.0000(SD, Mean, +SD). Whilst government policies of free electricity to lifeline consumers during Covid-19 period in 2020 does not moderate the relationship between strategic planning and firm performance of ECG: (P-value ≤ 0.05) at levels 8.0000, 0.1520, and 10.0000 (SD, Mean, +SD).
Keywords: Customer Satisfaction, Network Reliability, Operational Efficiency, Organizational Performance, Reduction in System Losses, Revenue Generation, Strategy Evaluation, Strategy Formulation, Strategy Implementation, Strategic Planning, Tariff.
DOI: https://doi.org/10.5281/zenodo.10589755
PDF: https://ijirst.demo4.arinfotech.co/assets/upload/files/IJISRT24JAN898.pdf
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