STRATEGIC PLANNING AND FINANCIAL PERFORMANCE: A META‐ANALYTIC REVIEW*

Research output: Contribution to journalArticlepeer-review

209 Scopus citations

Abstract

After two decades of research, the effect of strategic planning on a firm's performance is still unclear. While some studies have found significant benefits from planning, others have found no relationship, or even small negative effects. Interpretation of these findings is confounded by the fact that many of these studies base their findings on a small number of firms. This article uses meta‐analysis to aggregate the results of 29 samples on a total of 2496 organizations. Cumulation of previous studies found modest correlations between planning and nine performance measures. Extensive measurement problems suggest that these findings underestimate the true relationship between planning and performance.

Original languageEnglish (US)
Pages (from-to)353-374
Number of pages22
JournalJournal of Management Studies
Volume28
Issue number4
DOIs
StatePublished - Jul 1991
Externally publishedYes

ASJC Scopus subject areas

  • Business and International Management
  • Strategy and Management
  • Management of Technology and Innovation

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