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Strategic Planning And Financial Performance: More Evidence

Author

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  • Noel Capon
  • John U. Farley
  • James M. Hulbert

Abstract

A recently published meta‐analysis of the impact of strategic planning on financial performance omitted a major study of corporate planning practice in Fortune 500 manufacturing firms. This article briefly reviews that study in light of the results of the meta‐analysis. Additional analysis examines performance and firm survival over a longer time period than in the original work. the overall conclusion is that a small but positive relationship between strategic planning and performance exists, and persists.

Suggested Citation

  • Noel Capon & John U. Farley & James M. Hulbert, 1994. "Strategic Planning And Financial Performance: More Evidence," Journal of Management Studies, Wiley Blackwell, vol. 31(1), pages 105-110, January.
    • Handle: RePEc:bla:jomstd:v:31:y:1994:i:1:p:105-110
    DOI: 10.1111/j.1467-6486.1994.tb00335.x
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    Cited by:

    1. Katrin M. Smolka & Ingrid Verheul & Katrin Burmeister–Lamp & Pursey P.M.A.R. Heugens, 2018. "Get it Together! Synergistic Effects of Causal and Effectual Decision–Making Logics on Venture Performance," Entrepreneurship Theory and Practice, , vol. 42(4), pages 571-604, July.
    2. Thomas Jenner, 2001. "Zum Einfluss der Gestaltung von Planungsprozessen auf den Erfolg strategischer Geschäftsfelder," Schmalenbach Journal of Business Research, Springer, vol. 53(2), pages 107-126, March.
    3. P. Maik Hamann, 2017. "Towards a contingency theory of corporate planning: a systematic literature review," Management Review Quarterly, Springer, vol. 67(4), pages 227-289, August.
    4. Anastasiia Laskovaia & Galina Shirokova & Michael H. Morris, 2017. "National culture, effectuation, and new venture performance: global evidence from student entrepreneurs," Small Business Economics, Springer, vol. 49(3), pages 687-709, October.
    5. Lopes, Miguel Vieira & Ross, R. Brent, 2013. "A Comparative Analysis of Strategic Planning Practices in Michigan Agribusiness Firms: 1992 vs. 2012," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 16(3), pages 1-30, September.
    6. Andrea Quintiliani, 2018. "The Relationship between the Market Value Added of SMEs Listed on AIM Italia and Internal Measures of Value Creation," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 9(1), pages 121-131, January.
    7. 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.
    8. Mohamed Laid Ouakouak, 2018. "Does a strategic planning process that combines rational and adaptive characteristics pay off ? Evidence from European firms," Australian Journal of Management, Australian School of Business, vol. 43(2), pages 328-349, May.
    9. Alain Gilles FOKA TAGNE & Nestor Magloire LETSINA & David Claude NOUHOU NKENGANG & Aurélien FOMEKONG NOUBOSSE, 2021. "Rôle des outils de contrôle de gestion dans l’amélioration de la performance organisationnelle des entreprises au Cameroun," Journal of Academic Finance, RED research unit, university of Gabes, Tunisia, vol. 12(2), pages 103-123, December.
    10. 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.
    11. Hossein Rezaei Dolat Abadi & Fatemeh Nematizadeh, 2012. "Analyzing the Impact of Corporate Governance and Organizational Learning on Strategic Planning Effectiveness (An Empirical practice among some industrial companies in Iran)," International Journal of Learning and Development, Macrothink Institute, vol. 2(3), pages 283-293, June.
    12. Rüdiger Hahn, 2013. "ISO 26000 and the Standardization of Strategic Management Processes for Sustainability and Corporate Social Responsibility," Business Strategy and the Environment, Wiley Blackwell, vol. 22(7), pages 442-455, November.

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