The Impact of Strategic Planning on Institutional Excellence: A Field Study of Insurance Companies in the Capital Municipality of Sana’a

Abstract

This study aimed to identify the impact of strategic planning with its dimensions- environmental analysis, strategic direction, and strategy formulation- on institutional excellence with its dimensions, which include leadership excellence, service excellence, and process excellence in the insurance companies based in the Capital Municipality of Sana’a. To achieve the objectives of the study and test its hypotheses, the descriptive-analytical method was used, and a questionnaire was employed for collecting data from the study sample. The study population consisted of (208) individuals, covering general managers, deputy-managers, department managers and section heads. Since the population was small, the study used the complete census sampling method. The data were coded and entered in the (SPSS) program. The study results revealed that the insurance companies under study practiced strategic planning with all its dimensions at a high level. The institutional excellence with all its dimensions also scored a high level. Furthermore, the study results indicated a statistically significant impact of strategic planning on the institutional excellence in the companies under investigation. The study recommends that attention should be paid to strategic planning in order to enhance institutional excellence and to strengthen this relationship by considering the concept of strategic planning and institutional excellence as part of its business philosophy, taking into account preparing a development plan to improve its services.