Submit Your Article

The Nigerian business environment has evolved through several changes, especially in recent times; and these have necessitated reinventing plans for a more optimum performance. These fundamental changes range from political, economic, and socio-cultural, to technological variables; and have had tremendous influence on the growth, size and complexity of business organizations and this situation has drastically altered how business executives can effectively manage their operations in most modern organizations. This study therefore investigated the nexus between strategic planning and financial performance of manufacturing industries in Lagos Nigeria. This study adopted a descriptive survey design. The result of the analysis indicated a strong positive relationship between the variables (r=.791, p>.05); thus, a very strong positive relationship exists between planning techniques and market share. Also, the result of hypothesis two shows the result of the bi variate Pearson’s correlation analysis between strategic control and sales volume. This result indicates a very strong positive relationship between the variables (r= .762, p>.05); thus, the strength of the relationship between strategic control and sales volume is very strong. The study recommended that the management of NBC limited and SBC limited should ensure that the resources of the organizations are adequately and uniformly allocated across all functional areas in the organization and monitor each functional area for effective utilization of the allocated resources. Also, the managers in the organizations should ensure that effective collaboration is achieved between all the functional areas in the organization to achieve improved productivity.