Application of Strategic Planning and Performance in Nigerian Flour Mills: A Conceptual Review

Organizations do not operate in isolation but with interactions with various facets in the environment and have to tackle challenges of fierce competition, change in taste of customers, performance shortfalls, obsolescence of product, technological change, shortages of resource and culture change. This study examined how strategic planning can be applied to the process of sustaining performance using focusing on flour mills in Lagos. A conceptual review of the literature was done with the conceptual framework and models therefrom. Propositions were made, and efforts were made to obtain conclusions from the literature reviewed assessing the subjective and objective aspects of corporate performance. Relevant information was extracted from journals, articles, annual flour industry report, and bulletins presented by corporate strategists and policy planners. The inferences from the propositions revealed that strategic planning could be applied to sustain performance. Based on the finding, it can be concluded that strategic planning important in achieving organisational goals and it was recommended that more organisations should engage in strategic planning to enhance their performance.