Impact of strategic planning on organisational performance of microfinance institution in Myanmar

The study is focused on the impact of strategic planning on organizational performance of Microfinance in Myanmar. Strategic planning plays as a vital role in organizational performance. In the long run, strategic planning has impact on the survival of organization. Microfinance has grown over the years since Microfinance sector has ability to improve the livelihood of the small holder. Microfinance institutions support the small holders through provision of loan facilities at low interest rates. Although microfinance sector is growth, most Microfinance Institutions (MFIs) still find challenges in dealing with the needs of increased customer in a dynamic financial environment that require establishment of viable strategies. Strategic planning is important to compete the market for survival of organization in the dynamic economic environment. The main limitation facing MFIs has been performance in terms of management, operations and strategic issues. The heavy barrier in implementing strategic planning is the lack of commitment as it distracts the successful implementation of strategic planning. There are many impacts of strategic planning on organizational performance such as high-quality products, significant changes in profitability level, large customer patronage and increases in sales volume. Strategic planning intensity is determined by managerial, organizational and environmental factors. The objective of this study is to investigate the impact of strategic Planning on organizational performance of microfinance institution (MFI) in Myanmar. This paper provides information which will assist managers to understand the importance of strategic planning process in realization of organizational goals