ASSESSMENT ON FORMULAION AND EXECUTION OF STRATEGIC PLAN: IN THE CASE OF MOHA SOFT DRINKS INDUSTRY S.CO

Abstract

Strategy formulation and implementation includes the process of developing a vision and mission, identifying environment analysis for an organization, establishing objectives, generating alternative strategies, and choosing particular strategies to pursue accomplishment. This study sought to assess strategic plan formulation and implementation in the case of MOHA Drinks Industry S.C. The research design adopted was descriptive research. By using a primary data,a questionnaire was distributed to a total of 54 employees at the Head Office. 44 respondents were found who were conversant on the strategic plan formulation and execution of the company. The data collected was analyzed by using statistical Package for Social Sciences (SPSS) Version 17 and the strategic plan reviewed. The major findings of the study revealed that in the formulation, implementation and evaluation process of the strategic plan, the basic elements of the vision, mission and value statements do not shared among employees, Lackof fully participation of middle level and senior staffs in the process, Lack of adequate internal and external environmental study, Lack of provision of adequate policies, manuals and procedures, development of organizational culture, lack of employee’s motivation and reward systems more linked with the Human Resource, which there is no strategic initiative identified. Further, in the evaluation phase, Lack of key performance indicators and failure to take corrective action when the strategic plan implemented failed to meet the intended outcome though it was identified that the company provide adequate financial and technology facility resource. It is recommended that top management commitment and the human resource capability to the strategy formulation and implementation process, effective leadership to drive the implementation process, employee commitment to the strategy process, rewards and incentives to encourage employees to contribute their best to the implementation process. Furthermore, there should be strategic evaluation process by setting key performance indicators and corrective action must be taken when there is a deviation between the planned objectives and goals and the actual performance