The impact of grand strategy and planning formality on financial performance

An empirical study involving 97 manufacturing firms that averaged $20 million in annual sales yielded a strong positive correlation between the degree of planning formality and firm performance. Additionally, interactive analysis disclosed that this relationship pervaded various grand strategies; th...

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Veröffentlicht in:	Strategic management journal 1987-03, Vol.8 (2), p.125-134
Hauptverfasser:	Pearce, John A., Robbins, D. Keith, Robinson, Richard B.
Format:	Artikel
Sprache:	eng
Schlagworte:	Applied sciences Business structures Chief executive officers Classification schemes Corporate planning Corporate strategies Economic indicators Exact sciences and technology Financial management Financial planning Firm modelling Formal organization Horizontal integration Hypotheses Literature reviews Operational research and scientific management Operational research. Management science Performance management Polls & surveys Processes Product development Profit planning Questionnaires Research methodology Sales growth Strategic management Strategic planning Studies
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Beschreibung
Zusammenfassung:	An empirical study involving 97 manufacturing firms that averaged $20 million in annual sales yielded a strong positive correlation between the degree of planning formality and firm performance. Additionally, interactive analysis disclosed that this relationship pervaded various grand strategies; the implication being that formalized strategic planning was consistently a positive factor associated with high levels of organizational performance.
ISSN:	0143-2095 1097-0266
DOI:	10.1002/smj.4250080204