An assessment of the impact of strategic planning on the Performance of selected rural and community banks in the Western Region of Ghana.
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Date
2012-07
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KNUST
Abstract
The study examined the impact of strategic planning on the performance of Rural and Community
Banks in the Western Region of Ghana. Strategic Planning has been unknown to many Rural and
Community banks prior to the 1990’s. Lack of planning within the Rural banking sector
contributed to the abysmal performance of these banks, contributing to the collapse of about 21
of these banks, and about a third of them going into distress. The intervention of the Association
of Rural Banks (ARB) in organizing a series of seminars on strategic planning for these banks in
1999, and the implementation of strategic plans by these banks in 2000, led to the rapid
improvement in the performance of these banks. The purpose of the study was to ascertain whether
or not the introduction of strategic planning in the Rural and Community Banks has had any
impact on the performance of these banks. The target population consisted of five rural and
community banks selected from eleven rural and community banks in the Western Region, with a
staff population of 300. The main instruments employed for data collection were questionnaires
and secondary data. The study revealed that Management participation in strategic planning in the
selected banks was significant, as the selected banks did not have enough financial resources to
hire strategic planners from outside. The study findings also revealed that the introduction of
strategic planning in the rural banking sector has improved the performance of the selected banks.
The study recommends the use of strategic plans by rural and community banks to help improve
the human resource base and the financial performance of their companies.
Description
A Thesis Submitted To The Department Of Marketing And Corporate Strategy In Partial Fulfillment Of The Requirements For The Award Of Degree Of Master Of Business Administration (Strategic Management Option)