THE ROLE OF CEO IN THE STRATEGIC PLANNING SYSTEM IN NIGERIAN BANKS
DR. (MRS.) S. L. ADEYEMI
DEPARTMENT OF BUSINESS ADMINISTRATION
UNIVERSITY OF ILORIN
The purpose of this paper is to analyze the CEO’s strategic role in the strategic planning system in the Nigerian banking industry. 69 Chief bank planners were selected for the study from banks that are generally considered to be at the leading edge of bank strategic planning in Nigeria. The paper explores the key dimensions of CEO’s participation in and relationship to bank strategic planning. First the impact of the rapidly changing internal and external environment on bank planning was examined. The survey findings indicating the current involvement of banks CEOs in specific dimension of corporate strategic planning are evaluated. However, while CEOs recognise the need, strategic planning has never really caught on as a basic bank management tool.
The strategic importance of the Chief executive officer (CEO) in big organization is widely recognized. Lorange, (1986). The magnitude of the CEO’s potential impact on the success of an organization highlights the need to more fully understand the ways a firm may attempt to ensure that CEO acts in a manner that maximizes firm success.
As every banker in Nigeria is well aware today the changes that have occurred in commercial banking over the years, together with emerging trends in “how business is done have added a new challenging dimension to the taste of bank management.
Therefore in any organization the Chief Executive Officer (CEO), has a major responsibility for the degree of success or failure overtime.
The Nigerian banking industry over the years has been operating in a highly competitive highly regulated and challenging environment.
Most of the challenges came as a rude shock to most Nigerian banks particularly the recent reforms in the banking industry. This revealed a void in strategic management that deserve...