Research Article
Achieving Organizational Goals Through Strategic Planning and Adaptation: A Theoretical Investigation
Rachel Konyefa Dickson*
Issue:
Volume 13, Issue 2, June 2025
Pages:
62-73
Received:
7 February 2025
Accepted:
6 March 2025
Published:
21 March 2025
Abstract: In today's rapidly evolving business environment, organizations must continuously adapt to remain competitive. However, traditional strategic planning often results in complex documents that are rarely implemented effectively, limiting organizations' ability to achieve their goals. This paper explores the role of strategic planning and adaptation in fostering organizational success by reviewing key concepts, the importance of strategic planning, its components, and the necessity of strategic adaptation. The study highlights that strategic planning is a structured approach to defining organizational goals, allocating resources, and guiding long-term decision-making. However, rigid planning structures often fail in dynamic business environments, necessitating an integrated approach combining strategic planning and adaptability. Strategic adaptation enables organizations to respond effectively to external uncertainties, market shifts, and emerging opportunities. Organizations can enhance their agility and resilience by leveraging environmental scanning, strategic flexibility, and participatory planning. Findings suggest that while strategic planning provides a clear roadmap for achieving objectives, its effectiveness is significantly improved when paired with adaptation strategies. Organizations that integrate flexibility into their planning processes are better positioned to navigate uncertainties and drive sustainable growth. Moreover, fostering a culture of strategic employee participation enhances engagement, innovation, and alignment with organizational goals. This paper concludes that achieving organizational success requires a dynamic, integrated approach that balances strategic planning and adaptability. By embedding flexibility into their strategic frameworks, organizations can remain resilient, responsive, and competitive in an ever-changing business landscape, ultimately driving long-term growth and success.
Abstract: In today's rapidly evolving business environment, organizations must continuously adapt to remain competitive. However, traditional strategic planning often results in complex documents that are rarely implemented effectively, limiting organizations' ability to achieve their goals. This paper explores the role of strategic planning and adaptation i...
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Research Article
An Examination of the Interrelationship Among Remittance Inflows, Foreign Direct Investment and Economic Growth in Nigeria
Ewere Florence Okungbowa,
Eguonor Jennifer Oleabhiele*
Issue:
Volume 13, Issue 2, June 2025
Pages:
74-85
Received:
4 May 2025
Accepted:
19 May 2025
Published:
20 June 2025
DOI:
10.11648/j.ijebo.20251302.12
Downloads:
Views:
Abstract: The globalization of the world economy, coupled with the recent rise of anti-globalization sentiments in some regions, has made it challenging for underdeveloped nations like Nigeria to fully understand the drivers of economic growth. After gaining independence, Nigeria, like many other growing economies in sub-Saharan Africa, has been striving to achieve and sustain long-term economic growth. The recent downturn in FDI can be attributed to recurring political instability, sluggish economic growth, and a weak global economy, leading to dwindling investment in manufacturing and related sectors. Consequently, examining the long-term relationship between remittances, FDI, and economic growth is crucial for policymakers and government advisers. The present study sought to appraise the relationship among remittance inflow, foreign direct investment (FDI), and economic growth in Nigeria. Time series data, which spanned the period of 1986-2022, was utilized. The vector error correction model was employed for the estimation. From the study, remittance was found to have a negative and non-significant relationship with economic growth. A bi-directional causation was established between FDI and economic growth. Lastly, remittance had no significant relationship with foreign direct investment. The study hence recommends that policymakers should draw up sufficient FDI inflow strategies that would translate to economic growth. This could be done through building confidence in the domestic economy through political stability and cooperation with relevant stakeholders.
Abstract: The globalization of the world economy, coupled with the recent rise of anti-globalization sentiments in some regions, has made it challenging for underdeveloped nations like Nigeria to fully understand the drivers of economic growth. After gaining independence, Nigeria, like many other growing economies in sub-Saharan Africa, has been striving to ...
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