Impact of Strategic Planning on Financial Performance of Companies in Turkey

Abstract

Strategic planning is important for strategic management of companies. The purpose of this study is to explore the impact of strategic planning on financial performance of Major Industrial Enterprises of Turkey. Our findings show that many domestic and foreign firms in our sample have a strategic process in place. It is an annual process and considered a very important organizational activity. This paper is one of the few studies to examine the strategic planning process in a sample of firms from a transitional economy. It can be considered a longitudinal study because it examines a set of institutions to identify changes in their performance over time, as they incorporate the use of strategic tools in a dynamic competitive environment. The findings of this study provide a contribution to our understanding of the nature and practice of strategic planning in Turkish companies and possibilities of correlations between their efforts and performance.

The relationship between strategic planning and business performance: an empirical study of manufacturing SMEs in Western province in Sri Lanka

“…According to the literature review, these findings are consistent with Bracker and Pearson (1986), Robinson et al (1986) Shrader et al (1989, Baird et al (1994), Glen and Weerawardena (1996), Kargar and Parnell (1996), Wijewardena et al (2004), Veskaisri et al (2007) Efendioglu andKarabulut (2010) and Aldehayyat and Twaissi (2011). On the other hand Kraus et al (2006), O'Regan et al (2008, Gică and Negrusa (2011) found that a negative relationship.…”

Розвиток Методик Аналізу Мікросередовища Підприємства На Прикладі Закладу Аптечної Галузі

“…Аналіз зовнішнього середовища -центральне питання наукової дискусії у сфері стратегічного керування і на сьогоднішній день. Діагностика середовища стосовно корпоративної стратегії (Dyson, 2000) [5], [6], (Chenhall, & Langfield-Smith, 2007) [7], (Friedl, & Biloslavo, 2009) [8], (Efendioglu, & Karabulut, 2010) [9], інструменти діагностики і можливості їх застосування в конкретних умовах [10], (Ittner, & Larcker, 1998) [11], (Aldehayyat, & Anchor, 2008) [12]) -поширені об'єкти такого аналізу. Спільне в цих дослідженнях -зосередження основної уваги на аналізі макросередовища.…”

Quantitative performance targets by using balanced scorecard system: Application to waste management and public administration

“…The implementation of an IMS involves specific activities, such as planning, documentation, implementation, audit, and review, which together act as a cycle of continuous improvement based on the methodology known as the Deming Cycle or Plan-Do-Check-Act (PDCA) (Deming, 1986;Moen and Norman, 2010;Sokovic and Pavletic, 2007;Sokovic et al, 2010). Therefore, in an IMS, a systematic and continuous plan needs to be developed (Efendioglu and Karabulut, 2010;Kriemadis and Theakou, 2007).…”