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Strategic planning and company performance: An appraisal of the empirical evidence

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  • Greenley, Gordon E.

Abstract

Although the prescriptive strategic management literature implies a positive association between strategic planning and company performance, with directional causality from strategic planning to performance, confirmatory empirical evidence is equivocal. The overall aim of this article is to investigate whether or not an association is evident, from the published empirical evidence. This investigation was based on an appraisal of the methodological rigour of the empirical studies. Many differences were found among the methodologies of these studies, while the rigour of each study is seemingly limited. Consequently, their results cannot be legitimately combined, and therefore it cannot be concluded that an association is evident. This conclusion highlights the dichotomy between strategic planning as a determinant of performance, and strategic planning as a process to improve the effectiveness of management. Directions for further research are given for tackling this dichotomy.

Suggested Citation

  • Greenley, Gordon E., 1994. "Strategic planning and company performance: An appraisal of the empirical evidence," Scandinavian Journal of Management, Elsevier, vol. 10(4), pages 383-396, December.
    • Handle: RePEc:eee:scaman:v:10:y:1994:i:4:p:383-396
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    Cited by:

    1. Debarliev, Stojan & Trpkova, Marija, 2011. "Strategic planning practice in transition economies: Empirical evidence from the Macedonian context," Business and Economic Horizons (BEH), Prague Development Center (PRADEC), vol. 4(1), pages 1-13, January.
    2. Stojan Debarliev & Marija Trpkova, 2011. "Strategic planning practice in transition economies: Empirical evidence from the Macedonian context," Business and Economic Horizons (BEH), Prague Development Center, vol. 4(1), pages 27-39, January.
    3. Rudd, John M. & Greenley, Gordon E. & Beatson, Amanda T. & Lings, Ian N., 2008. "Strategic planning and performance: Extending the debate," Journal of Business Research, Elsevier, vol. 61(2), pages 99-108, February.
    4. Hossein Hakimpoor Author_Email: hhossein3@live.utm.my & Dr. Huam Hon Tat & Assoc Prof. Dr. Khairil Anuar Arshad, 2011. "Strategic Marketing Planning (Smp) And Smes’ Performance: The Moderating Effects Of Structural Dimensions Of Marketing Networks," 2nd International Conference on Business and Economic Research (2nd ICBER 2011) Proceeding 2011-219, Conference Master Resources.
    5. Peter Maik Hamann & Oliver Halw & Thomas W. Guenther, 2023. "Meta‐analysis of the corporate planning–organizational performance relationship: A research note," Strategic Management Journal, Wiley Blackwell, vol. 44(7), pages 1803-1819, July.
    6. Ahmed Imran Hunjra & Nuzhat Shamim & Babar Khalid, 2014. "Impact of Strategic Planning on the Financial Performance of Small and Medium Banks in Islamabad," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 3(2), pages 96-130, June.
    7. Demirbag, Mehmet & McGuinness, Martina & Akin, Ahmet & Bayyurt, Nizamettin & Basti, Eyup, 2016. "The professional service firm (PSF) in a globalised economy: A study of the efficiency of securities firms in an emerging market," International Business Review, Elsevier, vol. 25(5), pages 1089-1102.
    8. Titus Jr., Varkey K. & Covin, Jeffrey G. & Slevin, Dennis P., 2011. "Aligning strategic processes in pursuit of firm growth," Journal of Business Research, Elsevier, vol. 64(5), pages 446-453, May.
    9. Mohamud Jama Ali & Elegwa Mukulu & John M. Kihoro & Joyce D. Nzulwa, 2016. "Moderating Effect of Firm Size on the Relationship between Functional Integration and Firm Performance," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 6(9), pages 38-57, September.
    10. Demirbag, Mehmet & Tatoglu, Ekrem & Glaister, Keith W. & Zaim, Selim, 2010. "Measuring strategic decision making efficiency in different country contexts: A comparison of British and Turkish firms," Omega, Elsevier, vol. 38(1-2), pages 95-104, February.
    11. Phillips, Paul & Moutinho, Luiz, 2014. "Critical review of strategic planning research in hospitality and tourism," Annals of Tourism Research, Elsevier, vol. 48(C), pages 96-120.

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