Scenario Planning as a Recipe for Corporate Performance: The Nigerian Manufacturing Sector Experience

Owolabi Lateef Kuye, Ben Akpoyomare Oghojafor

Abstract


As organisations struggle to deal with an increasingly uncertain world, they are looking to their managers to find
ways in helping them to prepare for possible futures. Many organisations now apply scenario planning methods
as means of evaluating their effectiveness and performance under different sets of assumptions about the future.
This study investigates the relationship between scenario planning and corporate performance in the
manufacturing sector in Nigeria. A survey research method was used to generate data from a sample of
manufacturing firms in Nigeria on scenario planning and corporate performance variables. Responses from the
survey were statistically analyzed using descriptive statistics, product moment correlation, regression analysis and
Z-test (approximated with the independent sample t-test). The results of the study indicate a statistical significant
relationship between scenario planning and corporate performance as well as reveal a significant difference
between the performance of firms whose scenario planning are low and the performance of firms whose scenario
planning are high. The research findings provide insights regarding how the interaction between scenario
planning and corporate performance would assist the growth and development of the manufacturing sector in
Nigeria.


Full Text: PDF DOI: 10.5539/ijbm.v6n12p170

Creative Commons License
This work is licensed under a Creative Commons Attribution 3.0 License.

International Journal of Business and Management   ISSN 1833-3850 (Print)   ISSN 1833-8119 (Online)

Copyright © Canadian Center of Science and Education

To make sure that you can receive messages from us, please add the 'ccsenet.org' domain to your e-mail 'safe list'. If you do not receive e-mail in your 'inbox', check your 'bulk mail' or 'junk mail' folders.