Strategic Planning Process Formality and Institutional Performance

The relationship between strategic planning and the performance of organizations has been debated over the years. Some have specifically argued on the level of formality required in a strategic process to realize strategic outcomes. Based on various findings, some studies have recommended purposefully formalized strategic planning processes (deliberate strategies) while others have favored emergent strategies. Consequently, this study examined the relationship between strategic planning process and performance. It also focused on determining the degree of strategic planning process formality that influences the performance of businesses. Descriptive survey design was adopted. Twenty-six accredited private universities in Ghana which had strategic planning committees in place were selected using the stratified and purposive sampling techniques. Linear regression was used to determine the effects of strategic planning process on performance. Post hoc, One Way ANOVA was employed to determine significant differences between the degrees of strategic planning process formality and their corresponding performance levels. The study found that performance within the sector was low. Several recommendations to assist institutions wobble out of the current situation toward appreciating the importance of formality in the formulation of strategies have been proposed. Keywords: Strategic planning process formality, performance