scholarly journals A critical review of theoretical aspects of strategic planning and firm performance

2019 ◽  
Vol 7 (03) ◽  
Author(s):  
Dr. Sadudin Ibraimi
Keyword(s):  
Firm Performance ◽  
Strategic Planning ◽  
Performance Management ◽  
Critical Review ◽  
And Performance ◽  
Strategic Theories ◽  
Constituent Elements

In this paper we examine the reasons and justify the striking interest being taken by researchers and managers on strategic planning, but also the limits of those principles, some intrinsic others that can be overcome by an integration with tradition. A framework which attempts to relate the constituent elements that distinguish the two main strategic theories and shows that both must be considered for strategic planning and performance management is provided

scholarly journals Strategic Management in Finnish and Norwegian Government Agencies

2019 ◽  
Vol 9 (4) ◽  
pp. 80
Author(s):  
Jan-Erik Johanson ◽  
Åge Johnsen ◽  
Elias Pekkola ◽  
Stephen Affleck Reid
Keyword(s):  
Strategic Planning ◽  
Strategic Management ◽  
Performance Management ◽  
Public Management ◽  
New Public Management ◽  
Nordic Countries ◽  
Government Agencies ◽  
Interesting Study ◽  
New Public ◽  
And Performance

The purpose of this article is to analyse the design and implementation of strategic planning and performance management in governmental agencies in two Nordic countries, Finland and Norway. Nordic countries are an interesting study from a comparative perspective because while they are commonly assumed to have been high-intensity new public management reformers, they are also commonly assumed to have a distinct public management tradition. Moreover, these two countries are interesting to study because within the Nordic public management tradition, Finland and Norway specifically represent two different public management traditions. Finland belongs to the Eastern Nordic public management tradition, with an emphasis on decentralisation and agency autonomy, while Norway belongs to the Western Nordic public management tradition, with an emphasis on hierarchical governance, and hence, much performance management and reporting. Therefore, we expected to find more decentralised strategic management and an emphasis on evaluation in Finland, and more central, planning-like strategic management and reporting in Norway. Our comparison shows that both countries had mandatory strategic planning and utilised decentralised strategic planning in government agencies. The stronger legal orientation in the public administration in Finland, however, made strategic changes more complicated in Finland than in Norway.

scholarly journals Strategic planning and performance of SMEs in Ghana

2018 ◽  
Vol 12 (1) ◽  
pp. 62-76 ◽  
Author(s):  
Jacob Donkor ◽  
George Nana Agyekum Donkor ◽  
Collins Kankam Kwarteng
Keyword(s):  
Firm Performance ◽  
Strategic Planning ◽  
Research Work ◽  
Data Gathering ◽  
Service Firms ◽  
Complex Activity ◽  
Content Type ◽  
And Performance ◽  
Develop Market ◽  
Rich Data

Purpose This paper aims to examine the interacting effect of market dynamism and strategic planning on the performance of small- and medium-scale enterprises (SMEs) in Ghana. Design/methodology/approach This study has used quantitative approach in dealing with the interacting effect of market dynamic on strategic planning and SMEs’ performance in Ghana. Purposive sampling is used to select 200 small- and medium-sized manufacturing and service firms in Ghana. The hierarchical multiple regression analysis is performed to test the hypotheses. Findings This study finds that a consistent application of strategic planning methodologies contributes to the advancement of SME performance in Ghana. In addition, it was ascertained that market dynamism has a significant positive relationship with firm performance, although its effect is not significant. Finally, the study reveals that market dynamism only influences SME performance when there is strategic planning. Research limitations/implications The findings are limited to the SMEs in Ghana. The study of market dynamism, strategic planning and performance is a very complex activity; therefore, to gather rich data on such research work may be best accomplished if the researchers adopt mixed method data gathering techniques. This will enrich the understanding on market dynamism, strategic planning and SMEs’ performance relationship. Practical implications The findings of this research work offer guidance to owners or managers considering how to develop market dynamics and strategic planning to enhance firm performance. Originality/value This study reports on an obvious gap in the prevailing literature that few empirical research works have explored on the possible impacts of market dynamism and strategic planning on performance of SMEs in a third world country.

Smart cuts?: Strategic planning, performance management and budget cutting in U.S. cities during the great recession

2014 ◽  
Vol 26 (3) ◽  
pp. 494-526 ◽  
Author(s):  
Benedict S. Jimenez
Keyword(s):  
Strategic Planning ◽  
Performance Management ◽  
Local Governments ◽  
The Great Recession ◽  
Administrative Capacity ◽  
Cutback Management ◽  
Rational Management ◽  
Effective Organization ◽  
And Performance ◽  
Research Show

Periods of fiscal decline present an opportunity for city officials to transform their local government into a leaner and more effective organization by targeting cuts to non-essential programs and services. However, the political nature of the fiscal retrenchment process means that such opportunity is often squandered. Could the application of strategic planning and performance management in cutback management lead to a more focused and targeted budget cutting? Advocates of rational management believe that information gathering, analysis and use in decision-making can help local governments adapt to a fiscal crisis by facilitating targeted cuts in expenditures that preserve administrative capacity, and avoiding across-the-board cuts that trim both the organization's muscle and fat. The results of this research show that rational analytic techniques do matter in budget cutting.

scholarly journals Performance Budgeting in Context: An Analysis of Italian Central Administrations

2019 ◽  
Vol 9 (4) ◽  
pp. 79
Author(s):  
Andrea Bonomi Savignon ◽  
Lorenzo Costumato ◽  
Benedetta Marchese
Keyword(s):  
Public Sector ◽  
Strategic Planning ◽  
Performance Management ◽  
Management Practices ◽  
Local Level ◽  
Policy Implications ◽  
Performance Budgeting ◽  
Strategic Plans ◽  
And Performance ◽  
The Impact

The impact of financial austerity in many countries and the need to set the direction for governments have radically changed several aspects of Public sector management (Rubin and Willoughby 2014; Anessi-Pessina et al. 2016). A central component of this effort to transform public management involves using strategic planning and performance measures for budgeting decisions (Joyce 1997). Over the last decade, there has been an increase in the use of performance budgeting at the national as well as at subnational and local level, with varying approaches and results across countries (Bleyen et al. 2017; OECD 2017). This article analyzes the dynamics of strategic planning and performance management practices in relation to the budgeting processes in the context of the Italian central government, with the aim of evaluating whether a predominant integration model is apparent in relation to those used in different countries at the OECD level. Starting in 2009, reforms concerning the implementation of performance management tools in the Italian public sector have been promoted and revised, although the need to fully integrate the performance and budgeting processes looks urgent. Based on data from Italian Ministries, this article analyzes the type of relationship and the degree of coherence between adopted strategic plans and budgets. The results show the persistence of a prevalent misalignment between planning and budgeting. Data that were collected from the analysis of strategic plans and budgets from ten Ministries depict a patchy situation, in which some ministries integrate the processes defining a consistent and comparable model, while some others do not. In the conclusions, areas for improvement of the process are identified, while providing policy implications.

Effects of Formal Strategic Planning on Financial Performance in Small Firms: A Meta-Analysis

1993 ◽  
Vol 17 (3) ◽  
pp. 53-64 ◽  
Author(s):  
Charles R. Schwenk ◽  
Charles B. Shrader
Keyword(s):  
Firm Performance ◽  
Strategic Planning ◽  
Financial Performance ◽  
Small Firm ◽  
Small Firms ◽  
Sampling Error ◽  
Meta Analysis ◽  
Firm Financial Performance ◽  
And Performance ◽  
First Time

Researchers have been examining the effects of formal strategic planning on small firm financial performance for more than twenty years. Reviewers of prior studies have drawn differing conclusions as to whether formal planning improves small firm performance. We have applied meta-analysis for the first time to the results of previous studies on formal strategic planning and small firm performance. The results suggest that even though the size of the effects for planning for individual studies Is not large, the overall relationship between formal planning and performance across studies Is positive and significant. Much of the variance in the size of the effects, however, Is not explained by sampling error, Indicating the potential for other variables to moderate the effects of planning on the performance of small firms. It is concluded, in general, that strategic planning is a beneficial activity for small firms.

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