The impact of grand strategy and planning formality on financial performance
- 1 March 1987
- journal article
- research article
- Published by Wiley in Strategic Management Journal
- Vol. 8 (2) , 125-134
- https://doi.org/10.1002/smj.4250080204
Abstract
An empirical study involving 97 manufacturing firms that averaged $20 million in annual sales yielded a strong positive correlation between the degree of planning formality and firm performance. Additionally, interactive analysis disclosed that this relationship pervaded various grand strategies; the implication being that formalized strategic planning was consistently a positive factor associated with high levels of organizational performance.Keywords
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