Abstract:

Over the years strategic management has gained some portion of consideration from professional and academic world. Several authors have given information on strategic management issues. The dynamic nature of the environment of business alerts organisations to embrace strategic management. However, this study focuses on the effect of strategy formulation and implementation on organisational performance, a study of Honeywell Flour Mill Plc Lagos Nigeria. This research leveraged on the resource based view theory. The survey instrument for the study is questionnaire. In this study, the population size was the total one thousand five hundred (1500), the Yard formula was adapted to get the sample size of 315. However, two hundred and eighty-three (283) copies of the questionnaire were returned. The researcher used the format of the questionnaire with close ended format on a 5-point Likert Scale. The instruments were validated, and data gathered were analysed through descriptive and regression analysis. In addition, secondary data was gotten from journals, articles, facts from the internet, class lecture notes and knowledge of the researcher. This study indicates a significant relationship between strategy formulation and profitability. However, strategy implementation has no statical and significant effect on the sales volume of Honeywell Flour Mill Plc. However, the recommendation for this study remains that the management and staff of Honeywell Flour Mill Plc should frequently involve in viable strategy formulation and ensure complete implementation process as this would enhance the overall performance of the organisation.