Factors Affecting Strategic Planning Practices at Cogebanque Rwanda

The study scrutinized the factors affecting strategic planning practices at COGEBANQUE one of the leading commercial bank in Rwanda. Efficiency and effectiveness as strategic planning is essential in organizations performance. Primary and secondary data have been used for the study. The study used questionnaire to elicit information from employees of Cogebanque limited. Data collected have been analyzed by using descriptive and inferential statistics. The hypotheses have tested using the Pearsons Product Moment Correlation Coefficient to establish the significance of relationship between the various variables used in measuring subject matter. The results of the hypotheses discovered that there is a noteworthy positive correlation between strategic planning and organizational performance. Mission of the organization, training of human resources, right leadership and technology were found are prodigious strategies to good performance of an organization. Researcher recommends that all factors of various dimensions should be put into the right perspective, so as to help the general workforce of the organization to understand the main objectives and the strategic plans in place to achieve them. This will educate the employees of the organization to gear towards delivering services to enhance the general strategy of the organization and then raise its performance. It is also recommended that lines of communication between managerial and non-managerial staff should be enhanced in order to embolden and support the flow of information and feedback mechanisms among company staff.