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

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  • Dibrell, Clay
  • Craig, Justin B.
  • Neubaum, Donald O.

Abstract

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.

Suggested Citation

  • Dibrell, Clay & Craig, Justin B. & Neubaum, Donald O., 2014. "Linking the formal strategic planning process, planning flexibility, and innovativeness to firm performance," Journal of Business Research, Elsevier, vol. 67(9), pages 2000-2007.
    • Handle: RePEc:eee:jbrese:v:67:y:2014:i:9:p:2000-2007
    DOI: 10.1016/j.jbusres.2013.10.011
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