Strategic planning and firm performance

Over time the concept and practice of strategic planning has been embraced worldwide and across sectors because of its perceived contribution to organizational effectiveness. Past studies have indicated the existence of a relationship between strategic planning and firm performance and mainly utilized financial performance indicators. However, the main focus has been on the direct relationship between strategic planning and performance without taking cognizance of the fact that there are other factors that could affect this relationship. This book recognizes that the attainment of the strategic planning intermediate outcomes and people involvement in the strategic planning process could influence the realization of the anticipated strategic planning results. The direct relationship between strategic planning and firm performance, the relationship between strategic planning and intermediate outcomes and the moderating effect of worker participation on these relationships is examined. The analysis could be useful to managers who practice strategic planning on the need for effective handling of the strategic planning process for company success.