Linking the formal strategic planning process, planning flexibility, and innovativeness to firm performance

Linking the formal strategic planning process, planning flexibility, and innovativeness to firm performance

This study explores the link between financial performance and the formal strategic planning process, planning flexibility, and innovativeness of 448 firms in a multi-industry sample. The results suggest that firms' formal strategic planning processes and planning flexibility are positively ass...

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Veröffentlicht in:Journal of business research 2014-09, Vol.67 (9), p.2000-2007
Hauptverfasser: Dibrell, Clay, Craig, Justin B., Neubaum, Donald O.
Format: Artikel
Sprache:eng
Schlagworte:
Consortia
Financial performance
Firm performance
Flexibility
Formal strategic planning
Innovation
Innovations
Innovativeness
Planning flexibility
Planning methods
Strategic planning
Studies
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Beschreibung
Zusammenfassung:This study explores the link between financial performance and the formal strategic planning process, planning flexibility, and innovativeness of 448 firms in a multi-industry sample. The results suggest that firms' formal strategic planning processes and planning flexibility are positively associated, and each is positively related to innovativeness. In addition, innovativeness fully mediates the relationships between firm performance and the formal strategic planning process and planning flexibility.
ISSN:0148-2963
1873-7978
DOI:10.1016/j.jbusres.2013.10.011