Vol 12 Iss 2 Cover

THE ROLE OF SCENARIO PLANNING IN BUSINESS STRATEGY IN SHELL PETROLEUM DEVELOPMENT COMPANY LIMITED WARRI, DELTA STATE OF NIGERIA

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ABSTRACT
Scenario planning has played a positive role in Business Strategy in Shell Petroleum Development Company (S.P.D.C) since 1903 when Shell D’ Archy started oil exploration in Nigeria. There has been a problem of the difficulty in determining the role played by Scenario Planning in Business Strategy in Shell, Warri. The specific objectives of the study are to; determine the role of scenario planning in business strategy; ascertain the role of the strategic planning aspect of scenario planning in business strategy formulation and highlight the role of the process steps’ aspect of scenario planning in business strategy implementation in S.P.D.C., Warri, Delta State of Nigeria. The study adopted a survey design and a sample size of 400 from a population of 525 using Taro Yamane formula. The study found that scenario planning played a positive role in business strategy in S.P.D.C. (Z = 4.880). The strategic planning aspect of scenario planning played a positive role in business strategy formulation in S.P.D.C. (Z = 5.855) and the process steps’ aspect of scenario planning played a positive role in the business strategy formulation in S.P.D.C. (Z = 6.831). It was concluded that: That scenario planning played a positive role in business strategy in S.P.D.C. It implies that scenario thinking had a positive role in objectives in the company. This would make this company’s ability to make flexible plans would make the company achieve her goals and objectives. That the strategic planning aspect of scenario planning played a positive role in business strategy formulation in S.P.D.C. It implies that this process of making risk taking decisions systematically played a role in developing long range plans for effective management. These decisions would make for the provision of a good environment for achieving the organizational objective. It was recommended that the strategic managers of the company should continue to use scenario planning to play a positive role in business strategy. A continuous use of strategic planning as a process will influence strategy formulation. Therefore, the use of six process steps of scenario planning will positively affect strategy implementation.

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