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Larger firms benefit less, not more, from strategic planning for improving firm performance.
The findings show that a large number of cities use strategic planning with a high level of satisfaction; however, questions are raised about the true level of strategic capacity.
The study demonstrated strategic planning as a learning tool and a strategic resource which is consistent with the underlying assumptions of resource based theory, systems theory, chaos theory and balanced score card model assumptions.
It is concluded, in general, that strategic planning is a beneficial activity for small firms.
However, strategic planning is found to be positively and significantly related to organisational effectiveness.
The results confirm that strategic planning has a positive association and predictive relationship with the performance of SMEs.
The paper also shows that the resources required for adopting a strategic planning approach do not form a significant obstacle; and the higher the position, the more likely is participation in the strategic planning pr...
The overall conclusion is that a small but positive relationship between strategic planning and performance exists, and persists.
This study focused on strategic planning systems as predictors of performance in a developing country context.
This suggests that a closer analysis of process characteristics in the analysis of strategic planning may help mitigate the divergent results in strategic planning research.

Related Questions

Why need to Strategic planning?4 answersStrategic planning is necessary due to several reasons. Firstly, it helps organizations adapt to the dynamic external environment, high competition, and achieve their ultimate goals. Secondly, it determines the direction of development and identifies activities that contribute to goal achievement, especially in large organizations. Thirdly, strategic planning creates a competitive advantage and sustainable profits by making coherent decisions about an organization's place in the industry. Additionally, strategic planning is crucial in political contexts as it emphasizes the importance of specifying goals, resources, and assumptions. Furthermore, it enables careful thought and preparation for implementing change interventions, providing a clear roadmap for achieving desired outcomes. Lastly, strategic planning is essential in organizing business events to ensure feasibility, desired outcomes, value creation, and attendee experience.
How can strategy be used to achieve competitive advantage and sustainability?5 answersStrategy can be used to achieve competitive advantage and sustainability by incorporating various elements. Digital marketing, such as social media green marketing and cause-related marketing, has a positive relationship with sustainability competitive advantage. Core competence development, resource-based view, and VRIO assessment can help identify competencies that can be developed for a competitive advantage. A sustainable business approach, considering economic, socio-cultural, and environmental dimensions, is essential for sustainable competitiveness. Big data management, sustainability commitments, and marketing play a role in obtaining competitive advantage. Strategic sustainability management, including the formulation of appropriate sustainability strategies, is crucial for gaining a competitive advantage in the mining industry. By integrating these strategies and approaches, organizations can enhance their competitive advantage while also promoting sustainability.
Purpose of Strategic Planning?5 answersStrategic planning is a vital and ongoing process that helps organizations define their purpose, set goals and objectives, and determine the actions needed to achieve them. It is a management tool that allows organizations to focus their energies, align their resources, and ensure that all employees are working towards the same goals. Strategic planning also helps organizations evaluate and adjust their direction in response to environmental variables. It is considered a fundamental tool for achieving organizational goals and increasing sales and profitability. Strategic planning is a meso-level approach to strategy formulation, providing a systematic and deliberate process for formulating organizational strategies. It is also a key component of market success and a basis for the entire management system. Overall, the purpose of strategic planning is to guide organizations in preparing for the long term, making informed decisions, and achieving sustainable development.
Wht is STRATEGIC PLANNING?4 answersStrategic planning is a managerial approach used to formulate organizational strategies through a systematic and deliberate process. It involves considering various aspects of public management and governance, such as transnational and network governance, public values and stakeholder expectations, rules and regulations, organizational and societal change, and public governance in complex systems. The process of strategic planning in a political context involves careful planning to achieve goals by specifying objectives, assumptions, and available resources. However, it is important to also predict the moves and reactions of opponents and revise the strategy if assumptions prove to be wrong. Strategic planning is crucial for organizations and businesses to plan for the long term and make the right strategic decisions based on the problems, constraints, and challenges faced. It involves understanding the elements and tools needed for sustainable development at both national and regional levels. Empirical studies have shown that strategic planning has a direct and significant impact on the quality of local emergency management programs. Overall, strategic planning is an ongoing process that defines an organization's purpose, direction, and action steps needed to achieve its goals and objectives.
How top companies have improved their strategic human resource management to gain a competitive advantage?0 answersTop companies have improved their strategic human resource management (SHRM) to gain a competitive advantage by integrating HRM with their overall business strategies. They recognize that human resources are valuable and play a crucial role in organizational success. By developing HR strategies that align with their business goals, companies can attract, develop, and retain high-quality employees, which in turn contributes to organizational performance and competitive advantage. Effective HRM practices, such as resourcing, motivating, valuating, learning and development, reward, and employee relations, are key to building strategic capabilities and achieving sustainable competitive advantage. Companies also focus on investing in human capital and ensuring that their employees have the necessary skills to adapt to changes in the business climate. Additionally, companies that prioritize internal communication and employee participation/autonomy have seen an impact on sales growth, further enhancing their competitive advantage.
Can an organization have a good strategy and still fail to achieve competitive advantage?8 answers

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Does financing affect the decreasing number of customer of grocery store?
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Financing can indeed impact the decreasing number of customers at grocery stores. Research by rupali pramaik et al. reveals that small retail shoppers, including grocery stores, are experiencing declining sales, with 78% offering credit facilities to attract customers. Additionally, the study highlights that 98% of small shoppers attract customers by offering better quality goods, indicating a correlation between quality and customer retention. Furthermore, David A. Matsa's work demonstrates that high financial leverage in supermarket firms can lead to reduced product quality, potentially resulting in decreased customer loyalty and sales. Therefore, the interplay between financing decisions, product quality, and customer retention strategies can significantly influence the number of customers at grocery stores.
How can proper academic planning affect students’ performance?
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Proper academic planning plays a crucial role in enhancing students' performance. It involves strategies like time management tools, effective communication, and predictive grade visualization. Academic planning aids in maximizing time management, organizing daily activities, and improving study effectiveness. Strategic planning in schools positively correlates with academic performance, emphasizing factors like student performance in exams, competition among students, attendance, and discipline. Predicting grades through interactive tools influences students to focus on performance improvement, although it may lead to neglecting other aspects like workload. Additionally, the planning skills of Heads of Departments significantly impact academic performance in science subjects, highlighting the importance of proper planning, including ICT usage, instructional material acquisition, and training needs assessment.
What are the main problems for implementation plans failing?
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Implementation plans often fail due to various reasons. Lack of needs assessment with key stakeholders, insufficient buy-in from medical staff, poor patient engagement, and contextual barriers are common issues leading to implementation failures. Additionally, problems in designing learning implementation plans, difficulties in implementing scientific learning, and issues in evaluating affective and psychomotor domains contribute to implementation failures in educational settings. Furthermore, inadequate dissemination of policies, lack of awareness among officials, bureaucratic reluctance, and misallocation of funds hinder the successful implementation of new policies and initiatives. To enhance implementation success, it is crucial to address these multifaceted challenges by conducting thorough needs assessments, fostering stakeholder buy-in, improving communication, enhancing engagement, and ensuring proper resource allocation and awareness dissemination.
What is control over personal finances?
5 answers
Control over personal finances refers to the ability to effectively manage and administer one's money and assets, leading to a successful economic life. It involves practices such as financial planning, saving, investing, and spending wisely. Individuals who exhibit control over their personal finances demonstrate maturity, discipline, and moderation, which are essential for achieving financial goals and building a strong financial foundation. This control allows individuals to optimize their economic resources, improve their quality of life, and achieve financial security in the long term. Moreover, having control over personal finances involves organizing daily financial activities, managing debt, making investments, and seeking financial peace of mind.
What is the importance of budgeting strategies?
5 answers
Budgeting strategies play a crucial role in various economic environments by ensuring macroeconomic stability, accelerating economic growth, and improving overall well-being. They involve the dynamic realization of goals, principles, and tasks to coordinate regulatory measures with economic and social changes. Financial planning and budgeting are essential tools for regulating business activities, providing accurate information for achieving development goals. In agribusiness, budgeting is vital for managing costs, uncertainties, and maintaining competitiveness within the supply chain. Fiscal strategies are key for macroeconomic stability, managing uncertainties, and ensuring consistency in budget revenues and expenditures. Strategically oriented budgeting, when interconnected with enterprise strategies, activates economic processes and fosters growth in small and medium-sized businesses. Overall, budgeting strategies are fundamental for effective financial management, goal achievement, and sustainable economic development.
How do different types of planning functions (e.g., strategic, tactical, operational) impact the performance of international firms?
5 answers
Strategic planning plays a crucial role in enhancing the performance of international firms by influencing various aspects of their operations. It involves formulating long-term objectives and strategies to navigate complex global markets. Strategic planning positively correlates with firm performance, especially when coupled with strategic maneuverability, which enhances organizational agility and responsiveness. Additionally, the adoption of strategic competences like effective resource management and networking by managers in international contexts further contributes to firm success. Neglecting strategic planning can put firms at a competitive disadvantage, risking decreased performance compared to strategically planning competitors. Therefore, a well-developed strategic planning process, along with the implementation of strategic competences, is vital for improving the performance of international firms.
What are the weaknesses of the environmental education programme?
5 answers
The weaknesses of environmental education programs can vary based on different studies. One study highlighted weaknesses in the planning and execution stages of an Environmental Education program in a public company in Rio Grande do Sul, leading to project infeasibility. Another study emphasized the importance of evaluating the effectiveness of e-learning systems in higher education for sustainable development, pointing out weaknesses such as the need to improve self-organization and time management in online learning environments. Additionally, a study on Environmental Education programs in Sergipe noted that policies presented in Impact studies lacked consideration for age groups and did not align with curricular guidelines, indicating a weakness in program design and implementation. These weaknesses underscore the importance of addressing various aspects to enhance the efficacy and impact of environmental education initiatives.
What are the key factors that contribute to the success of TVET governance frameworks in different countries and regions?
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Successful TVET governance frameworks in various countries and regions are influenced by several key factors. These include strategic partnerships between training institutions and industries, the integration of TVET into systems of innovation, the utilization of information and communication technology (ICT) in TVET systems, and the development of comprehensive 10-year plans focusing on quality improvement, governance enhancement, and enrollment expansion. Moreover, factors such as understanding organizational cultures, aligning missions and visions, and strengthening governance systems play crucial roles in ensuring the effectiveness of TVET governance frameworks. By addressing these factors, countries and regions can enhance the quality, relevance, and efficiency of their TVET systems, ultimately contributing to economic growth and prosperity.
How to develop a marketing plan?
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To develop a marketing plan, start by conducting a situational analysis and environmental scanning to understand the market landscape. Establish clear goals and objectives, identifying the target audience and their purchasing behavior. Develop a comprehensive marketing strategy that aligns with the long-term vision of the business and short-term action plans. Create specific marketing tactics to implement the strategy effectively, considering factors like product positioning and pricing. Forecasting for the marketing plan and calculating important financial ratios are crucial for budgeting and resource allocation. Finally, present the marketing plan to stakeholders and ensure proper implementation, monitoring, and evaluation to adjust strategies according to market changes and consumer demands.
What is the relationship between strategic orientation and neo institutionalism?
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The relationship between strategic orientation and neo-institutionalism lies in their complementary nature. Strategic orientation focuses on what actors actually do, shared cognitions, and the role of language in creating shared meanings. Neo-institutionalism, on the other hand, emphasizes the impact of institutions on firm behavior, highlighting how strategic choices are inherently influenced by formal and informal constraints within institutional frameworks. By integrating these perspectives, organizations can benefit from a deeper understanding of how strategies are formulated and implemented within the context of institutional pressures and norms. This integration allows for a more comprehensive analysis of organizational behavior, strategy development, and competitive advantage within the broader organizational landscape.
What are the deceptive strategies by humans?
4 answers
Humans employ various deceptive strategies in different contexts. In communication, individuals strategically choose implicature triggers to exploit their interlocutors' interpretation strategies, even in uncooperative scenarios. Strategic deception is not new and has roots in military tactics, with Sun Tzu emphasizing feigning incapacity, misrepresenting proximity, and offering baits to mislead enemies. In adaptive behavior studies, agents collude to play the same strategy but can deceive by playing differently, showing that deceptive strategies can be profitable with a small number of deceptive agents. Additionally, humans are susceptible to motion camouflage, a stealth strategy where predators conceal their motion to approach prey successfully, as demonstrated in psychophysical experiments. In cybersecurity, the adaptivity of defense strategies is crucial for deceiving human adversaries effectively, with purely adaptive algorithms proving most successful.