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STRATEGIC PLANNING AND FORECASTING: A PANACEA FOR GROWTH IN PONTICELLI NIGERIA LIMITED
Abstract. The purpose of this study is to empirically investigate the relationship between planning and forecasting in modern organisations, our focus is on Ponticeli Nig. Ltd. This is paramount as organisations needs to be abreast with the past, today and compare/contrast as well as project what will happen in the future. These activities, inform of forecasting and planning cuts across all paraphernalia of mankind irrespective of class, age, race etc. This simply implies that, in order to manage any system, the role of forecasting and planning must not be treated with levity. Potent Research and hypothetical questions were raised and tested using qualitative forecasting techniques. Relevant literature was reviewed. The convenience sampling method was adopted due to the fact that clients/consumers of Ponticelli Nig. Ltd. products in Port Harcourt are virtually many. The ―spearman rank correlation coefficient‖ was used to test various formulated hypotheses. The rationale for this decision was due to the fact that the researcher seeks to examine the relationship between planning and forecasting as it relates to the growth of Ponticelli Nig. Ltd. The findings revealed that, resources as a variable of planning, plays a weak role in forecasting. In the same vein, control has no relationship with the firms qualitative analysis in the overall products provided in Ponticelli Nig. Ltd. The study recommended that Ponticeli Nig. Ltd. and other organisation in Port-Harcourt Nigeria should devise a more unique and distinct ways of forecasting, since the study pointed an obvious weak relationship between control and forecasting, same as resources and qualitative analysis.
Keywords: Planning, Forecasting, Change and Growth .